Auto Sales March 2025: Mahindra Records 23% Sales Growth; Closes FY25 with Record 5.5 Lakh SUV Sales

Mahindra & Mahindra Ltd. reported strong sales growth for March 2025, with total vehicle sales reaching 83,894 units. This marks a 23 per cent increase compared to March 2024, reflecting the company’s consistent upward trajectory in the Indian auto market. The figures include both domestic sales and exports. 

In the Utility Vehicles (UV) segment, Mahindra recorded domestic sales of 48,048 units, growing 18 per cent year-over-year. When factoring in exports, total UV sales stood at 50,835 units. The commercial vehicle (CV) segment also performed well, with domestic sales reaching 23,951 units. While some subcategories of CVs experienced a decline, the LCV (2T–3.5T) segment showed a strong 23 per cent growth. 

Veejay Nakra, President of the Automotive Division at M&M Ltd., said, “In March, we sold a total of 48,048 SUVs, with a growth of 18 per cent, and 83,894 total vehicles, a 23 per cent growth over last year. We also started the deliveries of our Electric Origin SUVs, where we see a strong continued demand momentum. The year ended on a very positive note with us selling over 5 lakh SUVs in the domestic market for the first time ever.”

Mahindra’s export performance was particularly noteworthy, with a 163 per cent surge in March 2025 exports, totalling 4,143 units. The company’s overall international sales grew by 41 per cent year-over-year, demonstrating an effective global expansion strategy. 

For the financial year ending March 31, 2025, Mahindra achieved several major milestones. The company sold 551,487 SUVs in the domestic market, the highest-ever annual SUV sales in its history, representing a 20 per cent year-over-year growth. Mahindra also recorded the highest number of Vahan registrations during the financial year, with a 20 per cent increase over the previous year, ensuring that dealer inventories remained within optimal levels. 

Additionally, Mahindra strengthened its leadership position by becoming India’s No.1 SUV manufacturer and the second-largest passenger vehicle manufacturer by revenue. The company also solidified its dominance in the Light Commercial Vehicle (LCV) segment (<3.5T), crossing a 50 per cent market share. 

In October 2024, Mahindra posted a 25 per cent rise in SUV sales, marking its highest monthly sales during the financial year. This surge in demand has been fueled by successful new product launches, such as the Thar Roxx, which has attracted a strong customer base. 

Mahindra’s growth is not just limited to sales volume but is also reflected in its financial results. In the third quarter of the 2024-25 fiscal year, the company reported a consolidated profit of ₹29.64 billion, a 19 per cent increase from ₹24.90 billion in the same period of the previous year. This growth was primarily driven by robust demand for SUVs and tractors. 

Revenue during the quarter rose by 20 per cent to ₹305.38 billion, with the overall volume increasing by 17 per cent. The company’s tractor business, while smaller in revenue contribution, remained a highly profitable segment, contributing to an increase in the overall operating margin from 14.2 per cent to 15.5 per cent.