Mahindra & Mahindra records 21% growth in total auto sales in November 2023
Mahindra & Mahindra Ltd. (M&M Ltd.), a key player in India’s automotive sector, announced its robust auto sales for November 2023, with a notable growth of 21%, including exports. The company reported a total sale of 70,576 vehicles during the month, highlighting its strong market presence.
SUV Sales Soar in Domestic Market
In the Utility Vehicles segment, Mahindra registered a significant growth of 32%, selling 39,981 vehicles in the domestic market. The overall figure, including exports, stood at 40,764 vehicles. This growth is indicative of the increasing consumer demand for Mahindra’s SUV portfolio.
Veejay Nakra’s Insights on Mahindra’s Growth
Veejay Nakra, President of the Automotive Division at M&M Ltd., commented on the company’s sustained growth trajectory. He pointed out the healthy demand for SUVs, with 39,981 units sold in November, marking a 32% increase. Despite facing supply challenges on select parts, Mahindra continues to monitor and address these issues proactively.
Mahindra’s Automotive Division Celebrates Strong Sales Performance in November 2023
Commercial Vehicles and Passenger Vehicles Performance
Mahindra’s performance in the Commercial Vehicles segment was equally impressive, with domestic sales standing at 22,211 vehicles. The company also recorded growth across various categories, including Light Commercial Vehicles (LCVs) and Medium & Heavy Commercial Vehicles (MHCVs).
Exports in November 2023
While the company faced a decrease in total exports by 42% in November 2023, Mahindra & Mahindra Ltd. remains committed to maintaining its market influence both domestically and internationally.
Mahindra & Mahindra Ltd.’s sales performance in November 2023 underlines its strong position in the Indian automotive industry and its commitment to delivering quality and innovation in the auto sector.