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Mahindra Sales Report October 2024: Experienced Growth of 10% in Domestic CV Sales


By Priya SinghUpdated On: 04-Nov-2024 02:31 PM
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ByPriya SinghPriya Singh |Updated On: 04-Nov-2024 02:31 PM
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Explore M&M's sales report for October 2024! In October 2024, their LCVs over 3.5 tonnes, including MHCVs, skyrocketed by 17%, while other categories varied.
Mahindra is a market leader in the commercial vehicle segment, with decades of experience.

Key Highlights:

  • Mahindra's domestic commercial vehicle sales rose by 10.03%, from 35,117 units in October 2023 to 38,638 units in October 2024.
  • The LCV 2T-3.5T segment grew by 17%, with sales reaching 23,893 units.
  • Three-wheeler sales increased by 5%, totaling 9,826 units.
  • Sales of LCVs over 3.5 tonnes fell by 5%, totaling 984 units.
  • Export sales surged by 89%, with 3,506 units shipped compared to 1,854 units last year.

Mahindra & Mahindra, one of the country's leading automotive manufacturers, has released its commercial vehicle sales report for October 2024. Mahindra, a leading commercial vehicle manufacturer, witnessed a 10.03% growth in domestic CV sales. The sales figures increased from 35,117 units in October 2023 to 38,638 units in October 2024.

Mahindra is a market leader in the commercial vehicle segment, with decades of experience. Mahindra has a solid reputation in both India and the international market. Furthermore, the brand has always received positive responses from other countries and has a strong presence in over 100 countries. 

From small utility vehicles to heavy-duty trucks, Mahindra offers a wide range of options to its wider customer base. The Mahindra Group is well-known in agriculture, tourism, real estate, logistics, and alternative energy. Let’s take a look at Mahindra’s Truck Sales statistics for October 2024:

Mahindra’s Domestic Sales – October 2024

Category

FY24

FY23

% Change

LCV 2T

3,935

4,335

-9%

LCV 2T-3.5T

23,893

20,349

17%

LCV 3.5T + MHCV

984

1,031

-5%

Three-Wheeler 

9,826

9,402

5%

Total

38,638

35117

10.03%

Category-wise Sales Breakdown

In the fiscal year 2024, sales in different vehicle categories showed varied trends compared to the fiscal year 2023:

LCV<2T: 9% Decline

The LCV <2T category experienced a decline of 9%, with sales reaching 3,935 units in October 2024 compared to 4,335 units in the same month last year.

LCV 2 T–3.5 T: 17% Growth

In this segment, sales grew by 17%, with sales reaching 23,893 units in October 2024 compared to 20,349 units in the same month last year.

LCV > 3.5T + MHCV: 5% Decline

The LCV > 3.5T + MHCV category experienced a decline of 5% to 984 units in October 2024 from 1,031 units in October 2023.

3 Wheelers (Including Electric 3Ws): 5% Growth

The three-wheelers category, including electric three-wheelers, saw an increase in sales. Three-wheeler vehicle sales increased by 5% to 9,826 units in October 2024 from 9,402 units in October 2023.

Mahindra’s Exports Sales – October 2024

Category

FY 24

FY23

% Change

Total Exports 

3,506

1,854

89.00%

Mahindra experienced growth in Export CV Sales in October 2024. The company exported 3,506 units in October 2024, compared to 1,854 units in October 2023 and experienced growth of 89%.

Also Read: Mahindra Sales Report August 2024: Experienced Growth in Export CV Sales

CMV360 Says

Mahindra's rise in commercial vehicle sales is great news for the industry. The increase in smaller trucks shows a growing demand, which is important for many businesses. It's also good to see more sales in three-wheelers, especially electric ones. However, the drop in larger vehicle sales indicates that companies need to adjust to market changes. Overall, Mahindra's strong export growth shows it has a good reputation worldwide.

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