Mahindra Records 2.98% Growth in Domestic CV Sales in January 2024

The LCV > 3.5T + MHCV category experienced an impressive growth of 145%, selling 2,326 CVs in January 2024, compared to 948 units in January 2023.

Mahindra & Mahindra, a leading commercial vehicle manufacturer, has released its commercial vehicle sales report for January 2024. Mahindra witnessed a 2.98% increase in domestic CV sales. The figures rose from 28,286 units in January 2023 to 29,130 units in January 2024.

Mahindra is a market leader in the commercial vehicle segment, with decades of experience. Mahindra has a solid reputation in both India and the international market. Furthermore, the brand has always received positive responses from other countries and has a strong presence in over 100 countries. The Mahindra Group is well-known in agriculture, tourism, real estate, logistics, and alternative energy. Let’s take a look at Mahindra’s Truck Sales statistics

Category-wise Sales Breakdown

LCV<2T: 51% Growth

The LCV <2T category recorded a significant growth of 51%, with sales reaching 4,039 units in January 2024 compared to 2,675 units in the same month last year.

LCV 2 T–3.5 T: 5% Decline

Mahindra's LCV 2T–3.5T category experienced a 5% decline, closing January 2024 with 17,116 units, down from 18,101 units in January 2023.

LCV > 3.5T + MHCV: 145% Growth

The LCV > 3.5T + MHCV category experienced an impressive growth of 145%, selling 2,326 CVs in January 2024, compared to 948 units in January 2023.

3 Wheelers (Including Electric 3Ws): 14% Decline

The 3-wheelers category, including electric three-wheelers, saw a decline in sales, dropping from 6,562 units in January 2023 to 5,649 units in January 2024, representing a 14% fall.

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Mahindra’s Export Sales January 2024

Mahindra, a globally renowned CV maker present in 100+ countries, reported a decline in Export CV Sales in January 2024. The sales count dropped to 1,746 units, representing a significant 42% decrease from 3,009 units in January 2023.

Veejay Nakra, President of the Automotive Division, M&M Ltd. Stated that “In January, we sold a total of 43,068 SUVs, a healthy 31% growth, and a total of 73,944 vehicles, a 15% growth over last year. We began the year with the launch of 2024 XUV700, with a whole host of new features that elevate comfort, tech, and sophistication to the next level."

From small utility vehicles to heavy-duty trucks, Mahindra offers a wide range of options that appeal to a wider customer base. The company has been proactive in integrating advanced technologies and features into its commercial vehicles, emphasizing safety, efficiency, and driver comfort. These innovations have attracted new customers and retained existing ones.