Mahindra & Mahindra Ltd. (M&M Ltd.), one of India’s leading automotive companies, today announced that its auto sales for the month of March 2023 stood at 35,976 vehicles, its highest ever, with a growth of 31%. The company also clocked the highest ever annual sales of its SUVs at 356,961 units, with a growth of 60%. In the Passenger Vehicle segment (which includes UVs, cars and Vansvans), the company sold 35,997 units (growth of 30%) in March 2023 and recorded an annual sale of 359,253 vehicles (growth of 59%).
The Commercial Vehicle segment recorded a sale of 22,282 vehicles in March 2023 (growth of 12%) and annual sale of 2,48,576 vehicles (growth of 40%). The LCV (2 – 3.5T) segment recorded its highest ever annual sales of 198,121 units in F23. Mahindra Truck and Bus Division (LCV > 3.5T + MHCV), also registered good performance with 1,469 units in March 2023 (growth of 77%) and annual sale of 10,036 units (growth of 56%)
Exports for the month were at 2,115 vehicles, and the company sold 5,697 units of 3-wheelers in March 2023.
According to Veejay Nakra, President, Automotive Division, M&M Ltd., “We are delighted to close the year with a growth of 50% for the Auto Sector on annual basis and the highest ever numbers, in almost all segments of the business. Our SUV business recorded all-time high numbers, with a growth of 31% in March 2023, while it recorded a 60% overall growth in F23, on the back of good demand across the portfolio. The Pik-up (LCV 2-3.5T) segment recorded the highest ever annual volume with a strong 43% growth, consolidating its leadership position. We would like to thank our associates, dealers, partners, suppliers, and customers, who have made this a remarkable year”.
| Passenger Vehicles sales summary (Domestic) – March 2023 | ||||||
|---|---|---|---|---|---|---|
| Category | March | YTD March | ||||
| F23 | F22 | % Changes | F23 | F22 | % Changes | |
| Utility Vehicles | 35,976 | 27,380 | 31% | 3,56,961 | 2,23,682 | 60% |
| Cars + Vans | 21 | 223 | -91% | 2292 | 2213 | 4% |
| Passenger Vehicles | 35,997 | 27,603 | 30% | 359,253 | 225,895 | 59% |
| Commercial Vehicles and 3 Wheelers sales summary (Domestic) – March 2023 | ||||||
|---|---|---|---|---|---|---|
| Category | March | YTD March | ||||
| F23 | F22 | % Changes | F23 | F22 | % Changes | |
| LCV < 2T | 3,385 | 3,806 | -11% | 40,419 | 32,339 | 25% |
| LCV 2 T – 3.5 T | 17,428 | 15,202 | 15% | 1,98,121 | 1,38,343 | 43% |
| LCV > 3.5T + MHCV | 1,469 | 829 | 77% | 10,036 | 6,435 | 56% |
| 3 Wheelers (including electric 3Ws) | 5,697 | 4,043 | 41% | 58,520 | 30,079 | 95% |
| Exports – March 2023 | ||||||
|---|---|---|---|---|---|---|
| Category | March | YTD March | ||||
| F23 | F22 | % Changes | F23 | F22 | % Changes | |
| Total Exports | 2,115 | 3,160 | -33% | 32,107 | 32,510 | -1% |
