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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
CategoryMarchYTD March
F23F22% ChangesF23F22% Changes
Utility Vehicles35,97627,38031%3,56,9612,23,68260%
Cars + Vans21223-91%229222134%
Passenger Vehicles35,99727,60330%359,253225,89559%
Commercial Vehicles and 3 Wheelers sales summary (Domestic) – March 2023
CategoryMarchYTD March
F23F22% ChangesF23F22% Changes
LCV < 2T3,3853,806-11%40,41932,33925%
LCV 2 T – 3.5 T17,42815,20215%1,98,1211,38,34343%
LCV > 3.5T + MHCV1,46982977%10,0366,43556%
3 Wheelers (including electric 3Ws)5,6974,04341%58,52030,07995%
Exports – March 2023
CategoryMarchYTD March
F23F22% ChangesF23F22% Changes
Total Exports2,1153,160-33%32,10732,510-1%

SOURCE: Mahindra

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