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

Key Highlights:

• M&M's LCV sales of over 3.5 tonnes jumped 77% YoY in June 2024.
• LCVs under 2 tonnes rose 5% to 3,223 units.
• LCVs between 2-3.5 tonnes fell 12% to 14,097 units.
• Total export sales increased by 4%, from 2,505 to 2,597.
• Other categories had moderate or negative growth.

Mahindra & Mahindra, one of the country's leading automotive manufacturers, has released its commercial vehicle sales report for June 2024. Mahindra, a leading commercial vehicle manufacturer, witnessed a 2.04% decline in domestic CV sales. The sales figures decreased from 27,336 units in June 2023 to 26,778 units in June 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 June 2024:

Mahindra’s Domestic Sales – June 2024

Category-wise Sales Breakdown

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

LCV<2T: 5% Growth 

The LCV <2T category experienced a Growth of 5%, with sales reaching 3,223 units in June 2024 compared to 3,063 units in the same month last year.

LCV 2 T–3.5 T: 12% Decline

In this segment, sales declined by 12%, dropping to 14,097 units from 16,042 units in June 2024.

LCV > 3.5T + MHCV: 77% Growth

The LCV > 3.5T + MHCV category experienced an impressive growth of 77% to 3,274 units in June 2024 from 1,854 units in June 2023.

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

The three-wheelers category, including electric three-wheelers, saw a decrease in sales. Three-wheeler vehicle sales decreased by 3% to 6,184 units in June 2024 from 6,377 units in June 2023.

Mahindra’s Exports Sales – June 2024

Mahindra experienced growth in Export CV Sales in June 2024. The company exported 2,597 units in June 2024, compared to 2,505 units in June 2023 and experienced growth of 4%.

Also Read: Mahindra & Mahindra Sales Report for May 2024: Highlights Strong Performance in Heavy Vehicle Category

CMV360 Says

Mahindra & Mahindra's latest sales report for June 2024 shows a noticeable trend: while their heavier commercial vehicles saw a big jump in sales, LCV segment faced challenges. 

This mix of growth and decline highlights the complexity of the market they operate in. Despite a slight dip in domestic sales overall, their increase in export numbers indicates a strategic focus on international markets.