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Mahindra's Commercial Vehicle Division Posts Impressive 16.68% Growth in August 2023


By Priya SinghUpdated On: 01-Sep-2023 06:24 PM
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ByPriya SinghPriya Singh |Updated On: 01-Sep-2023 06:24 PM
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Mahindra's commercial vehicle success can be attributed to its diverse product portfolio, catering to various segments of the market. From small utility vehicles to heavy-duty trucks, Mahindra offers a wide range of options that appeal to a broad customer

The LCV category, which comprises vehicles weighing less than 2 tons, sold 3,896 CV units. This figure is the same as it was last month. As a result, there was no change in sales.

Mahindra Zor Grand.webp

In a promising turn of events for the Indian automotive industry, Mahindra & Mahindra, one of the country's leading automotive manufacturers, has reported a significant surge in its commercial vehicle sales for the month of August 2023.

According to the latest data released by the company, Mahindra's commercial vehicle segment has witnessed an impressive growth rate of 16.68% compared to the same period last year.

This remarkable upturn comes after a challenging period for the industry, marked by disruptions caused by the COVID-19 pandemic and supply chain constraints. Mahindra's robust performance in the commercial vehicle sector serves as a beacon of hope, reflecting the resilience and adaptability of the Indian automotive market.

Let’s take a look at Mahindra’s Commercial Vehicle Sales statistics

Mahindra’s Domestic sales

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The LCV category, which comprises vehicles weighing less than 2 tons, sold 3,896 CV units. This figure is the same as it was last month. As a result, there was no change in sales.

The LCV category, which comprises vehicles weighing between 2 tons to 3.5 tons sold 18,768 CV units. In August 2023, this category sold 18,768 units, up from 16,940 units in August 2022. As a result, it yielded an 11% increase.

The sale of LCVs weighing more than 3.5 tonnes and Medium and Heavy Commercial Vehicles increased by 47% to 949 units in August 2023, compared to 646 units in August 2022.

The sale of 3-wheelers including electric three-wheelers increased by 47% to 7,044 units in August 2023, compared to 4,793 units in August 2022.

Also Read: Mahindra & Mahindra Ltd. saw significant growth in the Medium and Heavy Commercial Vehicles segment In July 2023

Mahindra’s Export sales

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The Mahindra Export CV Sales Figure for August 2023 indicates a decline of 17% in sales. The company sold 2,423 units in August 2023 as compared to 2,912 units in August 2022.

Mahindra's commercial vehicle success can be attributed to its diverse product portfolio, catering to various segments of the market. From small utility vehicles to heavy-duty trucks, Mahindra offers a wide range of options that appeal to a broad 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 played a pivotal role in attracting new customers and retaining existing ones.

As Mahindra & Mahindra continues to set new benchmarks in the commercial vehicle industry, all eyes are on the company's future endeavors and its potential to further drive growth and innovation in the automotive sector. This impressive surge in sales signals a promising future for Mahindra and the Indian commercial vehicle market as a whole.

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