Mahindra November 2024 Sales Report: A Bag of Growth and Declines

Mahindra has released its November 2024 sales data, highlighting robust growth in some segments while others have faced challenges. Despite the dynamic market conditions, the company has showcased resilience, particularly in its passenger vehicles (PV) and tractor divisions.

Passenger Vehicles (PV)

Mahindra’s PV sales in November 2024 stood at 46,222 units, marking a 15.16% YoY growth from 39,981 units sold in November 2023. This represents a volume growth of 6,241 units. The company’s lineup remains entirely utility vehicles (UVs), with cars and vans absent from recent sales reports. The Thar Roxx, Scorpio/N, and XUV 700 were key contributors to this growth.

However, MoM sales dropped by 15.20%, declining from 54,504 units in October 2024, a volume loss of 8,282 units.

Electric Vehicles

Commercial Vehicles (CV): Mixed Performance

Three-Wheelers and Exports

Exports surged 53% YoY, with 2,776 units shipped in November 2024 versus 1,816 units in November 2023. On a YTD basis, exports grew 17% to 21,009 units.

Farm Equipment Sector

Mahindra’s tractor sales reflected positive growth, aided by favorable monsoon conditions and a robust Rabi crop:

• Domestic Sales: Increased 2% YoY to 31,746 units in November 2024.
• Exports: Soared 62% YoY, reaching 1,632 units from 1,005 units.

Conclusion