Did Mahindra Auto Achieve Record SUV Sales in October?
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Synopsis
Mahindra & Mahindra Ltd has seen a remarkable surge in auto sales, achieving their highest SUV sales to date in October. With significant increases across various segments, the company is celebrating a successful month, driven by favorable GST adjustments. Discover the details behind this impressive sales performance.
Key Takeaways
- Mahindra achieved record SUV sales of 71,624 units in October.
- Overall sales reached 120,142 vehicles, a 26 percent increase.
- Commercial vehicle sales grew by 14 percent.
- The company launched new editions of popular models in October.
- Mahindra dismissed rumors of a demerger of its automotive and tractor businesses.
Mumbai, Nov 1 (NationPress) Mahindra & Mahindra Ltd has revealed that its total auto sales for October reached 120,142 vehicles, marking a significant increase of 26 percent when including exports, spurred by GST rate reductions that delighted customers.
In the Utility Vehicles category, Mahindra recorded sales of 71,624 vehicles in the domestic market, reflecting a growth of 31 percent. Overall, the total sales in this segment, including exports, stood at 73,890 vehicles.
The domestic sales for commercial vehicles were reported at 31,741 units, showing a growth rate of 14 percent, as stated by the company.
“In October, we achieved SUV sales of 71,624 units, a remarkable 31 percent increase, marking the highest monthly SUV sales we have ever recorded,” stated Nalinikanth Gollagunta, CEO of the Automotive Division at M&M Ltd.
“Total vehicle sales reached 120,142 units, a 26 percent increase compared to the same month last year. October also witnessed the launch of new editions of the Thar, Bolero, and Bolero Neo,” Gollagunta added.
Last month, the company denied rumors regarding a potential demerger of its automotive and tractor divisions. In a stock exchange filing, the automaker confirmed that there are no plans for a demerger, emphasizing that it continues to gain greater value from synergies by keeping these operations under the M&M umbrella.
In September, Mahindra had announced overall auto sales of 100,298 vehicles, reflecting a 16 percent increase from the previous year. The company also noted a record rise in customer interest during the Navratri festival, with SUV sales surging by over 60 percent and commercial vehicles growing by over 70 percent during the first nine days of the celebration.
Within the utility vehicles segment, Mahindra sold 56,233 units in the domestic market in September, marking a 10 percent increase year-over-year, while total UV sales, including exports, reached 58,714 units. The company's domestic commercial vehicle sales stood at 26,728 units, demonstrating 18 percent growth.
Point of View
Mahindra's sales growth reflects a robust automotive market driven by consumer enthusiasm and favorable policy changes. The confidence in Mahindra's product offerings, especially in SUVs, showcases their commitment to innovation and customer satisfaction, aligning with the nation's economic recovery narrative.
NationPress
02/11/2025
Frequently Asked Questions
What was Mahindra's total auto sales in October?
Mahindra's total auto sales in October reached 120,142 vehicles, representing a growth of 26 percent year-over-year.
How many SUVs did Mahindra sell in October?
In October, Mahindra sold 71,624 SUVs in the domestic market, marking a 31 percent increase.
What was the growth in Mahindra's commercial vehicle sales?
Mahindra reported a 14 percent growth in commercial vehicle sales, totaling 31,741 units in October.
Did Mahindra consider a demerger of its automotive and tractor businesses?
No, Mahindra clarified that there are no plans for a demerger and continues to benefit from synergies within the company.
What factors contributed to Mahindra's sales growth?
GST rate cuts and the launch of new vehicle editions significantly contributed to Mahindra's sales growth in October.
