Mahindra & Mahindra Ltd., one of India’s leading automotive giants, has announced its vehicle sales figures for November 2024, showcasing a remarkable 16% growth in the Utility Vehicles segment. The company sold a total of 79,083 vehicles, including exports, in November 2024.
In the domestic market, Mahindra’s Utility Vehicle sales reached 46,222 units, marking a 16% year-on-year increase. When exports are included, the overall sales in the Utility Vehicles category amounted to 47,294 units. Additionally, the Commercial Vehicles segment in India saw sales of 22,042 units during the month.
Veejay Nakra, President of the Automotive Division at Mahindra & Mahindra, expressed his enthusiasm about the strong performance, stating, “We sold 46,222 SUVs, a growth of 16% in November, and achieved total vehicle sales of 79,083. This month, we also launched our eagerly anticipated Electric Origin SUVs – the BE6e and XEV9e. These vehicles are designed on the groundbreaking INGLO architecture and are powered by MAIA, the fastest automotive mind in the world. They represent Mahindra’s vision of ‘Unlimit India’—a vision where Indian innovation and design not only meet global standards but exceed them. We will begin the phased market introduction of these electric SUVs in late January 2025, with deliveries slated to commence towards the end of February or early March 2025.”
Passenger Vehicles Sales Summary – November 2024
In terms of passenger vehicles, Mahindra continued its strong momentum, selling 46,222 Utility Vehicles in the domestic market in November 2024, up from 39,981 in the same month the previous year. This marks a solid 16% increase. The company’s overall year-to-date (YTD) sales for the passenger vehicle segment reached 360,936 units, reflecting a 21% increase compared to 298,593 units sold during the same period in 2023.
For the year-to-date period, the Utility Vehicle category witnessed an impressive 21% growth. However, the car and van category showed no sales in November, and year-to-date, there was a 100% drop, reflecting Mahindra’s strategic focus on its SUVs.
Commercial Vehicles and 3-Wheelers Sales Summary – November 2024
The Commercial Vehicle category showed mixed performance in November 2024. Sales of Light Commercial Vehicles (LCVs) under 2 tons saw a decline of 24%, with 3,098 units sold, compared to 4,083 in November 2023. However, LCVs in the 2-3.5 ton range experienced a 5% increase, with 18,063 units sold, compared to 17,284 units in the previous year. The LCV segment over 3.5 tons and Medium and Heavy Commercial Vehicles (MHC) also saw a small increase of 4%, with 881 units sold in November.
The 3-wheeler segment, which includes both conventional and electric 3-wheelers, recorded a strong 22% growth, with 8,043 units sold in November 2024. Year-to-date sales for this category reached 58,483 units, a 6% increase compared to the same period in 2023.
Exports – November 2024
Mahindra’s export performance was also noteworthy in November, with a significant 53% growth in vehicle exports. The company shipped 2,776 units abroad, compared to 1,816 units in November 2023. Year-to-date, Mahindra’s total export volume stands at 21,009 units, reflecting a 17% increase compared to the 17,986 units sold during the same period in the previous year. The export figures also include sales made by Mahindra’s subsidiary, Mahindra Last Mile Mobility Limited, from November 1, 2023.
About Mahindra
Founded in 1945, the Mahindra Group is a multinational federation of companies with a robust presence in over 100 countries. It employs 260,000 people worldwide and enjoys leadership positions in key sectors such as farm equipment, utility vehicles, information technology, and financial services in India. The company is also the world’s largest tractor manufacturer by volume. Beyond its automotive endeavors, Mahindra has a strong presence in renewable energy, agriculture, logistics, hospitality, and real estate.
Mahindra is committed to driving positive change through its focus on Environmental, Social, and Governance (ESG) principles. The Group aims to lead globally in ESG, enabling rural prosperity and improving urban living. Its vision is to empower communities and stakeholders to Rise, embracing innovation and sustainable growth.
