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Mahindra’s Stellar Performance in June 2024: SUV Sales Soar by 23%, Total Volumes Up 11%

Mumbai, July 01, 2024: In a remarkable display of growth and market dominance, Mahindra & Mahindra Ltd. (M&M Ltd.), a frontrunner in India’s automotive sector, reported impressive sales figures for June 2024. The company announced that it sold a total of 69,397 vehicles, marking an 11% increase compared to the same period last year. This includes both domestic sales and exports, underscoring Mahindra’s expanding footprint in the global market.

The highlight of Mahindra’s performance was in the Utility Vehicles (SUV) segment. The company sold 40,022 SUVs in the domestic market alone, representing a substantial 23% growth from the previous year. Including exports, the total number of SUVs sold reached 40,644. This surge in SUV sales reflects the growing consumer preference for robust and versatile vehicles, and Mahindra’s ability to meet this demand with its diverse and innovative product lineup.

The commercial vehicle sector also saw significant activity. Mahindra’s domestic sales in this segment stood at 20,594 vehicles, further consolidating its position in the commercial vehicle market.

Veejay Nakra, President of the Automotive Division at M&M Ltd., expressed his satisfaction with the company’s performance. “We sold a total of 40,022 SUVs in June, achieving a growth of 23%. Our overall sales for the month reached 69,397 vehicles, reflecting an 11% increase over last year. June has been a momentous month for us, as we rolled out the 200,000th XUV700 from our facility. Additionally, we celebrated 25 years of Bolero Pik-Ups, a category creator and a market leader in the LCV segment.”

Nakra’s statement highlights key milestones for Mahindra, including the significant production landmark of the XUV700 and the enduring success of the Bolero Pik-Ups. The Bolero Pik-Ups, which have been a cornerstone of Mahindra’s commercial vehicle lineup, continue to lead the Light Commercial Vehicle (LCV) segment, demonstrating the brand’s sustained excellence and innovation.

Mahindra’s growth figures for June 2024 are indicative of its strong market strategy and the continued trust and preference of consumers for Mahindra vehicles. The company’s focus on innovation, quality, and customer satisfaction has enabled it to not only achieve impressive sales numbers but also set new benchmarks in the automotive industry.

As Mahindra looks to the future, the company remains committed to enhancing its product offerings and expanding its market presence both domestically and internationally. The positive sales trajectory in June 2024 sets a promising tone for the upcoming months, positioning Mahindra for continued success and leadership in the automotive sector.

Passenger Vehicles Sales Summary (Domestic) – June 2024
CategoryJuneYTD June
F25F24% ChangeF25F24% Change
Utility Vehicles400223258523%12424810016224%
Cars + Vans03-100%010-100%
Passenger Vehicles400223258823%12424810017224%
Commercial Vehicles and 3 Wheelers Sales Summary (Domestic) – June 2024
CategoryJuneYTD June
F25F24% ChangeF25F24% Change
LCV < 2T *322330635%975193924%
LCV 2 T – 3.5 T1409716042-12%4357046745-7%
LCV > 3.5T + MHCV3274185477%9201511580%
3 Wheelers
(including electric 3Ws) *

Exports – June 2024
CategoryJuneYTD June
F25F24% ChangeF25F24% Change
Total Exports *259725054%712569343%

* Includes sales made by subsidiary company Mahindra Last Mile Mobility Limited w.e.f. September 01, 2023

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