Mahindra Sales Report September 2024: Domestic CV Sales Rise to 33,750 Units; 25% Export Growth

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Updated On: 01-Oct-2024 09:42 AM

Mahindra achieved 25% export growth and 5.74% domestic sales rise in September 2024, showcasing strong market resilience.

Key Highlights

25% growth in export sales, totaling 3,027 units.
Domestic sales increased by 5.74%, reaching 33,750 units.
Significant 25% rise in LCV > 3.5T + MHCV segment sales.
27% increase in 3-wheeler sales, including electric models.
LCV < 2T segment sales declined by 13%.

Mahindra & Mahindra, one of the leading manufacturers of commercial vehicles, has reported a strong performance for September 2024. The company's Light Commercial Vehicles (LCV) above 3.5T and Medium & Heavy Commercial Vehicles (MHCV) segments recorded an impressive 25% growth, reinforcing Mahindra’s presence in the heavier commercial vehicle market.

In September 2024, Mahindra's domestic commercial vehicle sales increased by 5.74%, with the total units sold rising from 31,918 in September 2023 to 33,750 in September 2024. This growth demonstrates Mahindra’s resilience in an increasingly competitive 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 August 2024:

Domestic Sales Breakdown for September 2024

Category	F25 (September 2024)	F24 (September 2023)	% Change
LCV < 2T	3,444	3,941	-13%
LCV 2T – 3.5T	16,988	17,438	-3%
LCV > 3.5T + MHCV	3,274	2,618	25%
3-Wheelers (Including Electric 3Ws)	10,044	7,921	27%
Total	33,750	31,918	5.74%

Domestic Sales Breakdown for September 2024

LCV < 2T: - In September 2024, Mahindra sold 3,444 units in this category, a decline compared to 3,941 units in September 2023, reflecting a 13% drop.
LCV 2T–3.5T: - The company closed September 2024 with 16,988 units sold, a slight drop from 17,438 units in September 2023, showing a modest 3% decrease.
LCV > 3.5T + MHCV: - This category saw significant growth, with sales rising by 25%. A total of 3,274 vehicles were sold in September 2024, up from 2,618 units in the previous year.
3-Wheelers (Including Electric 3-Wheelers): - The 3-wheeler segment, which includes electric models, witnessed substantial growth. Mahindra sold 10,044 units in September 2024, compared to 7,921 units in September 2023, marking a 27% increase.

Mahindra’s Export Sales Performance for September 2024

Category	F25 (September 2024)	F24 (September 2023)	% Change
Exports	3,027	2,419	25%

Mahindra & Mahindra also recorded significant growth in its export sales. The company's commercial vehicle export volume rose to 3,027 units in September 2024, up from 2,419 units in September 2023, reflecting a 25% increase. This growth underlines Mahindra’s strong international market presence and competitive edge.

Mahindra’s overall sales performance in both domestic and international markets highlights the brand's continued strength and adaptability in the global commercial vehicle landscape.

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CMV360 Says

Mahindra & Mahindra’s impressive 25% growth in export sales and a solid 5.74% rise in domestic sales for September 2024 highlight the company's strong market position. Despite some declines in lighter segments, the growth in heavier vehicles and electric 3-wheelers underscores Mahindra’s resilience and future potential.