Mahindra has reported its highest ever SUV sales at 43,708 units and highest ever total volumes at 80,679 vehicles in October 2023
A leader in the utility vehicle segment, Mahindra has reported their highest ever SUV sales in October 2023. Growth was seen across the PV and CV segments to record highest ever total volumes of 80,679 units. The company also looks forward to improved performance in the months ahead with new launches planned
Mahindra PV and CV Sales October 2023
Mahindra PV sales in October 2023 stood at 43,708 units, a 35.63 percent YoY growth over 32,226 units sold in October 2022. This was a volume growth of 11,482 units. This was a MoM growth of 5.92 percent when compared to 41,267 units sold in September 2023 relating to volume growth of 2,441 units.
On a YTD basis, Mahindra has seen an increase in UV sales by 30 percent to 2,58,612 units in the FY23-24 period from 1,99,278 units sold in the same period last year. Car and van sales dipped by 100 percent YoY and 99 percent YTD with only 10 units sold in the FY 2023-24 period.
Mahindra’s domestic Commercial Vehicle sales stood at 25,715 units, also marking its highest-ever sales. Growth was seen across all segments except where LCV under 2T sales were concerned, which fell by 5 percent YoY to 4,335 units from 4,562 units in October 2023 and October 2022 respectively. YTD sales also fell by 5 percent to 24,964 units in FY2023-24 from 26,170 units sold in the same period last year.
LCV 2T-3.5T saw a 29 percent YoY growth to 20,349 units in October 2023 from 15,728 units sold in October 2022. YTD sales grew by 9 percent to 1,23,077 units in FY2023-24 from 1,12,988 units sold in FY2022-23.
LCV sales in the higher than 3.5T and MHCV segments also saw a 49 percent YoY growth to 1,031 units in October 2023 from 690 units sold in October 2022. YTD performance improved by 52 percent to 7,434 units in the current period from April-October 2023 from 4,898 units sold in the same period last year. In the LCV space, it was the Mahindra Bolero Pick-up that has received much attention and recently crossed 1 lakh unit sales, achieving this milestone within 16 months of launch.
Mahindra also saw significant growth in its 3 wheeler sales which also includes electric 3 wheelers. Sales improved by 85 percent YoY to 9,402 units in October 2023 from 5,081 units sold in October 2022 while YTD sales grew by 59 percent to 48,628 units in the April-October 2023 period from 30,661 units sold in the same period last year.
Mahindra Exports October 2023
During the month of October 2023, Mahindra total exports stood at 1,854 units reflecting a 33 percent de-growth when compared to 2,755 units shipped in October 2022. On a YTD basis, during the period April-October 2023, Mahindra’s exports fell by 13 percent to 16,170 units. This was against 18,511 units shipped in the same period of 2022.
