Mahindra & Mahindra’s October auto sales jump 26% to 1.2 lakh units, SUV sales hit record high
Mahindra & Mahindra (M&M) posted a strong performance in October, reporting a 26% year-on-year increase in total auto sales to 1,20,142 units, driven by record SUV demand and steady growth in its farm equipment business.
Domestic passenger vehicle sales surged 31% to 71,624 units, marking the highest-ever monthly SUV sales for the company, according to its regulatory filing, News.Az reports, citing foreign media.
“In October, we achieved SUV sales of 71,624 units — the highest ever in a month,” said Nalinikanth Gollagunta, CEO of Mahindra’s Automotive Division.
Commercial vehicle sales in India rose 14% to 31,741 units.
Mahindra’s farm equipment division also delivered solid growth. Tractor sales rose 13% to 73,660 units, supported by a good monsoon, a favourable GST rate cut in September, and robust agricultural activity.
Domestic tractor sales grew 12%, while exports surged 41% to 1,589 units.
“Timely Rabi sowing and good progress in Kharif harvesting bode well for tractor demand going forward,” said Veejay Nakra, President of the Farm Equipment Business.
What’s driving the momentum?
Robust festive season demand
Strong monsoon boosting rural income
GST rate cut on farm machinery
Expanding SUV portfolio and supply improvements
M&M shares recently rallied amid expectations that GST reforms would benefit the auto sector, and the latest sales figures add further momentum to the company’s growth story.
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