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Mahindra Auto records highest-ever vehicle sales at 66,091 units with 21% growth; sells highest-ever SUV volume of 35,976 with 31% growth in March 23

Mahindra & Mahindra Ltd. (M&M Ltd.), one of India’s leading automotive companies, today announced that its auto sales for the month of March 2023 stood at 35,976 vehicles, its highest ever, with a growth of 31%

Mahindra & Mahindra Ltd. (M&M Ltd.), one of India’s leading automotive companies, today announced that its auto sales for the month of March 2023 stood at 35,976 vehicles, its highest ever, with a growth of 31%. The company also clocked the highest ever annual sales of its SUVs at 356,961 units, with a growth of 60%. In the Passenger Vehicle segment (which includes UVs, cars and Vansvans), the company sold 35,997 units (growth of 30%) in March 2023 and recorded an annual sale of 359,253 vehicles (growth of 59%).

The Commercial Vehicle segment recorded a sale of 22,282 vehicles in March 2023 (growth of 12%) and annual sale of 2,48,576 vehicles (growth of 40%). The LCV (2 – 3.5T) segment recorded its highest ever annual sales of 198,121 units in F23. Mahindra Truck and Bus Division (LCV > 3.5T + MHCV), also registered good performance with 1,469 units in March 2023 (growth of 77%) and annual sale of 10,036 units (growth of 56%)

Exports for the month were at 2,115 vehicles, and the company sold 5,697 units of 3-wheelers in March 2023.

According to Veejay Nakra, President, Automotive Division, M&M Ltd., “We are delighted to close the year with a growth of 50% for the Auto Sector on annual basis and the highest ever numbers, in almost all segments of the business. Our SUV business recorded all-time high numbers, with a growth of 31% in March 2023, while it recorded a 60% overall growth in F23, on the back of good demand across the portfolio. The Pik-up (LCV 2-3.5T) segment recorded the highest ever annual volume with a strong 43% growth, consolidating its leadership position. We would like to thank our associates, dealers, partners, suppliers, and customers, who have made this a remarkable year”.

Passenger Vehicles sales summary (Domestic) – March 2023
Category March YTD March
F23 F22 % Changes F23 F22 % Changes
Utility Vehicles 35,976 27,380 31% 3,56,961 2,23,682 60%
Cars + Vans 21 223 -91% 2292 2213 4%
Passenger Vehicles 35,997 27,603 30% 359,253 225,895 59%
Commercial Vehicles and 3 Wheelers sales summary (Domestic) – March 2023
Category March YTD March
F23 F22 % Changes F23 F22 % Changes
LCV < 2T 3,385 3,806 -11% 40,419 32,339 25%
LCV 2 T – 3.5 T 17,428 15,202 15% 1,98,121 1,38,343 43%
LCV > 3.5T + MHCV 1,469 829 77% 10,036 6,435 56%
3 Wheelers (including electric 3Ws) 5,697 4,043 41% 58,520 30,079 95%
Exports – March 2023
Category March YTD March
F23 F22 % Changes F23 F22 % Changes
Total Exports 2,115 3,160 -33% 32,107 32,510 -1%

SOURCE: Mahindra

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