Yes, Mahindra has been growing slowly and steadily in the auto industry not only by expanding its portfolio but also by innovation in terms of products. Though some buyers still complain about services or finishing of Mahindra cars, anyways Indians are buying those cars and they are even doing exports in bulk.
Recently the company has revealed its March 2023 numbers and they look pretty good if you compare a year before or even month on month. However, the brand’s manufacturing capacity increase is still a hurdle which if crossed, Mahindra looks to unlock the growing Indian automotive industry.
Mahindra Auto records highest-ever vehicle sales at 66,091 units with 21% growth; Sells highest-ever SUV volume of 35,976 with 31% growth on March 23
Mahindra & Mahindra Ltd., a top Indian automotive company, reported its highest-ever auto sales for March 2023, with 35,976 vehicles sold and a growth rate of 31%. The company also achieved a record annual sale of SUVs with 356,961 units sold, indicating a growth of 60%.
In the Passenger Vehicle segment, which comprises UVs, cars, and vans, the company sold 35,997 units in March 2023, growing at 30%, and recorded an annual sale of 359,253 vehicles, a growth rate of 59%.
The Commercial Vehicle segment saw a sale of 22,282 vehicles in March 2023, with a growth rate of 12%, and an annual sale of 2,48,576 vehicles, growing at 40%. The LCV (2 – 3.5T) segment also achieved its highest-ever annual sales of 198,121 units in F23.
Mahindra Truck and Bus Division (LCV > 3.5T + MHCV) recorded a robust performance with 1,469 units sold in March 2023, growing at 77%, and an annual sale of 10,036 units, growing at 56%. The company’s exports for the month stood at 2,115 vehicles, and it sold 5,697 units of 3-wheelers in March 2023.
According to Veejay Nakra, President of, the 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”.
