Auto Sales October 2023: Mahindra Registers 49% Growth In PV Sales

Mahindra and Mahindra have registered total sales of 80,679 units, witnessing a year-on-year growth of 32 per cent during the same period last year. This figure includes domestic sales and exports of passenger vehicles and commercial vehicles.

The brand sold 43,708 units of passenger vehicles in October 2023, witnessing a year-on-year growth of 36 per cent during the same period last year. This is the highest passenger vehicle sales figure recorded by the brand. Mahindra’s sales in October 2022 also included 72 cars and vans, which were not present in the current year’s sales figures.

Veejay Nakra, President, Automotive Division, M&M Ltd said, “In October, we clocked the highest ever volumes at 80,679 vehicles, a growth of 32%. Both SUVs and CVs achieved the highest-ever volumes for the third consecutive month at 43,708 and 25,715 vehicles respectively. While the strong festive demand should see us continue our growth momentum in November, we will keep a close watch on select supply-related challenges.”

In the commercial vehicle segment, Mahindra and Mahindra sold 25,715 units in October 2023. It registered a year-on-year growth of 22 per cent as the brand sold 20,980 units in the same period last year. In the light commercial vehicle (LCV) segment of under two tonnes, Mahindra sold 4,335 units registering a five per cent decline from last year. In the LCV segment between two tonnes and 3.5 tonnes, Mahindra sold 20,349 units which was a 29 per cent growth compared to October 2022. Similarly, in the LCV category of over 3.5 tonnes, Mahindra sold 1,031 units which is 49 per cent higher than the same period in the previous year.

Mahindra also sold 9,402 three-wheelers (including electric three-wheelers), registering a growth of 85 per cent compared to October 2022 when it sold 5,081. Last month, Mahindra exported 1,854 units, a third down from the exports in October 2022 when it sold 2,755 units.