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Key Highlights:
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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