Mahindra's shares surge as sales top 1L units in September
What's the story
Mahindra & Mahindra Ltd. (M&M) shares gained up to 2% on October 1, after the company reported impressive sales figures for September. The growth was mainly driven by strong performance across both its automotive and farm equipment divisions. M&M's automotive segment alone recorded a 16% year-on-year (YoY) increase, selling 1,00,298 vehicles last month.
Market performance
M&M's utility vehicle segment reports robust growth
In the utility vehicle segment, M&M sold 56,233 units in the domestic market last month. This is a 10% increase from September 2024. The company also reported a whopping 43% jump in exports to 4,320 units during the same period. Nalinikanth Gollagunta, CEO of Automotive Division at M&M, attributed this growth to GST reforms and pent-up demand from previous weeks.
Sales boost
Three-wheelers and LCVs also witnessed major jump in sales
M&M also witnessed a major jump in sales of its three-wheelers and light commercial vehicles (LCVs). The company sold 13,017 units of three-wheelers last month, a 30% increase from September 2024. LCVs with a payload capacity between two to 3.5 tons also saw a 21% rise in sales to reach 23,342 units during the same period.
Tractor sales
Farm equipment sector reports whopping 49% jump
In the Farm Equipment Sector, M&M reported a whopping 49% YoY jump in total tractor sales (domestic and exports) to 66,111 units last month. In the domestic market alone, tractor sales grew by a whopping 50% to reach 64,946 units last month. The company also witnessed a marginal increase of 10% in exports to reach 1,165 units during this period.