M&M records its highest monthly sales ever in September 2022.

M&M's Farm Equipment Sector (FES) also revealed its tractor sales figures for September 2022. Total tractor sales (domestic + exports) increased 21% year on year to 48,713 units in September 2022, up from 40,331 units in September 2021.

Mahindra & Mahindra (M&M) announced that the company's overall automotive business sold 64,486 vehicles in September 2022, a 129% increase over the previous year.

Mahindra & Mahindra's Farm Equipment Sector sold 47100 units in September, up from 39053 units in September 2021, the company said in a press release. Total Mahindra & Mahindra tractor sales, including domestic and exports, were 48,713 units in September 2022, compared to 40,331 units in the same period last year. For the month, exports totaled 1613 units.

In September 2022, the company sold 21,666 commercial vehicles (LCV+MHCV) compared to 9,468 units sold in September 2021, a 128.83% increase. From 2,981 units sold in the same period last year, Mahindra 3-Wheeler including electric 3Ws sales increased 94% to 5,774 units in September 2022.

The total number of vehicles exported during the month was 2,538. During the review period, domestic tractor sales increased by 21% to 47,100 units, while tractor exports increased by 26% to 1,613 units.

M&M's Farm Equipment Sector (FES) also revealed its tractor sales figures for September 2022. Mahindra's utility vehicles segment recorded its highest monthly sales of 34,262 SUVs, growing 166% year on year to become the industry's No. 1 UV player.

Mahindra & Mahindra (M&M) announced that the company's overall automotive business sold 64,486 vehicles in September 2022, a 129% increase over the previous year.

"Our sales in September 2022 are the highest ever in a month," said Hemant Sikka, President - Farm Equipment Sector, M&M. "Due to the festival season, demand remained strong throughout the month and is expected to remain so in October. With the Kharif crop harvest beginning soon and crop prices remaining stable, sentiments are cheerful. The above-average monsoon has increased reservoir levels, resulting in high moisture content in the soil, which is very encouraging for increased food grain production in the upcoming Rabi season."

In India, M&M Group is a market leader in farm equipment, utility vehicles, information technology, and financial services. It is the world's largest tractor manufacturer in terms of volume. It is well-known in the fields of renewable energy, agriculture, logistics, hospitality, and real estate.

In Q1 FY23, the company reported a 66.9% increase in standalone net profit to Rs 1,430 crore on a 66.7% increase in revenue to Rs 19,613 crore over Q1 FY22.

On the BSE, Mahindra & Mahindra shares fell 1.33% to Rs 1,251.85.