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Mahindra's July 2024 sales show mixed results with a significant domestic and export decline, yet notable growth in heavier vehicle segments.
By Robin Kumar Attri
Mahindra & Mahindra, a leading manufacturer of commercial vehicles, experienced mixed results in its sales performance for July 2024. Despite a notable increase in the heavier segments of their commercial vehicle market, the company faced significant challenges in both domestic and export sales.
The overall performance indicated a 40% drop in export commercial vehicle (CV) sales and a 14.88% decline in domestic sales compared to the previous year.
In July 2024, this category registered sales of 3,036 units, compared to 3,400 units in July 2023, marking an 11% decline in sales.
This segment closed in July 2024 with 13,541 units sold, down from 15,723 units in the same month last year, resulting in a 14% loss.
Despite the overall decline, this segment experienced significant growth. Sales surged by 77%, with 3,136 units sold in July 2024 compared to 1,775 units in July 2023.
The 3-wheeler category, including electric 3-wheelers, saw a substantial decrease in sales. In July 2024, 3,593 units were sold, down from 6,481 units in July 2023, resulting in a 45% decline.
In the global market, Mahindra & Mahindra's export sales experienced a significant drop. The sales volume decreased to 1,515 units in July 2024 from 2,540 units in July 2023, representing a 40% decline.
Also Read: Ashok Leyland's Total CV Sales Declined in July 2024, Sold 11,914 Units
Despite the challenges, Mahindra & Mahindra continues to be a key player in the commercial vehicle market worldwide, maintaining a strong presence in over 100 countries. The company remains committed to addressing market dynamics and leveraging growth opportunities, particularly in the heavier segments of its commercial vehicle lineup.
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