Mahindra & Mahindra Ltd. (M&M Ltd.) reported a strong performance in December 2024, with total vehicle sales reaching 69,768 units, reflecting a solid growth of 16% compared to the previous year. This figure includes both domestic and export sales, showcasing the company’s continued strength in the automotive sector.
Mahindra’s Utility Vehicle sales showed impressive growth in December 2024, with the company selling 41,424 units in the domestic market, reflecting an 18% increase. Including exports, the total sales in the segment reached 42,958 vehicles. In addition, the company’s Commercial Vehicle segment also performed well, with 19,502 units sold domestically. This solid performance across both segments highlights Mahindra’s strong position in the automotive market as it continues to meet the demand for both utility and commercial vehicles.
Mahindra Thar Roxx |
The company sold 41,424 utility vehicles, marking an 18% increase compared to the same month last year. This contributed to a 21% growth in overall passenger vehicle sales for the year-to-date, with 4,02,360 units sold in 2024. In contrast, the car and van segment saw no sales in December, continuing the downward trend from previous months. Despite this, Mahindra’s continued strength in the utility vehicle market helped maintain positive overall sales growth.
Mahindra’s commercial vehicle sales in December 2024 saw a mixed performance across various categories. The Light Commercial Vehicle (LCV) segment below 2T experienced a 15% decline, with 2,409 units sold compared to 2,849 units in December 2023. However, the LCV 2T to 3.5T segment reported a positive growth of 16%, with 16,139 units sold. The larger LCV and Medium and Heavy Commercial Vehicle (MHCV) segment saw a 12% decline in sales, with 954 units sold. In the three-wheeler category, including electric models, Mahindra saw an 8% growth, selling 5,750 units in December. Overall, Mahindra’s commercial vehicle and three-wheeler sales in December 2024 show varied trends, with some segments showing growth and others facing challenges.
Mahindra Scorpio N |
Veejay Nakra, President of the Automotive Division at M&M Ltd., commented, “In December, we sold 41,424 SUVs, reflecting an 18% growth, and a total of 69,768 vehicles, marking a 16% increase. The year concluded on a high note as we became the only Indian automotive company to achieve the Dow Jones Sustainability Index (DJSI) world leader status in the Auto Sector. The DJSI ranking is one of the most prestigious global benchmarks for ESG performance, assessing over 13,000 companies from various industries, and we are ranked first among all global automotive OEMs.”
