Mahindra Sales Report August 2024: Experienced Growth in Export CV Sales

Key Highlights:

• Mahindra's LCVs over 3.5 tonnes and MHCVs saw an 81% growth in August 2024 compared to the previous year.
• Domestic CV sales slightly declined by 0.78%, from 30,657 units in August 2023 to 30,418 units in August 2024.
• The LCV segment under 2 tonnes experienced a 24% decline in sales.
• Three-wheeler sales, including electric models, grew by 32% in August 2024.
• Mahindra's export CV sales increased by 26%, with 3,060 units sold in August 2024 compared to 2,423 units in August 2023.

Mahindra & Mahindra, one of the country's leading automotive manufacturers, has released its commercial vehicle sales report for August 2024. 

Mahindra, a leading commercial vehicle manufacturer, witnessed a 0.78% decline in domestic CV sales. The sales figures decreased from 30,657 units in August 2023 to 30,418 units in August 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. From small utility vehicles to heavy-duty trucks, Mahindra offers a wide range of options to its wider customer base. 

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 for August 2024:

Mahindra’s Domestic Sales – August 2024

Category-wise Sales Breakdown

In the fiscal year 2024, sales in different vehicle categories showed varied trends compared to the fiscal year 2023:

LCV<2T: 24% Decline

The LCV <2T category experienced a decline of 24%, with sales reaching 2,957 units in August 2024 compared to 3,896 units in the same month last year.

LCV 2 T–3.5 T: 18% Decline

In this segment, sales declined by 18%, dropping to 14,661 units from 17,800 units in August 2024.

LCV > 3.5T + MHCV: 81% Growth

The LCV > 3.5T + MHCV category experienced an impressive growth of 81% to 3,474 units in August 2024 from 1,917 units in August 2023.

3 Wheelers (Including Electric 3Ws): 32% Growth

The three-wheelers category, including electric three-wheelers, saw an increase in sales. Three-wheeler vehicle sales increased by 32% to 9,326 units in August 2024 from 7,044 units in August 2023.

Mahindra’s Exports Sales – August 2024

Mahindra experienced growth in Export CV Sales in August 2024. The company exported 3,060 units in August 2024, compared to 2,423 units in August 2023 and experienced growth of 26%.

Also Read: Mahindra Sales Report June 2024: Experienced Growth in Export CV Sales

CMV360 Says

Mahindra's performance in August 2024 reflects a mixed trend across different segments. While the decline in domestic CV sales, particularly in the LCV segment under 3.5 tonnes, poses challenges, the significant growth in MHCV and export sales demonstrates the company's strength in larger vehicle categories and international markets.