Auto Sales August 2023: Mahindra Reports Highest Ever SUV Sales In Indian Market

Mahindra & Mahindra Ltd., announced their sales figures for the month of August 2023. The company reported overall sales of 70,350 vehicles, marking a 19 per cent growth year-on-year. The company also reported its best ever Utility Vehicles (UV) sales in the Indian market with 37,270 units sold - up 26 per cent year-on-year.

When considering exports, the total sales in the UV category reached 38,164 vehicles for the month of August. In the Commercial Vehicles segment, the company reported the sale of 23,613 units domestically.

Moving to the commercial vehicle segments, Mahindra reported sales of 3,896 units in the LCV (Light Commercial Vehicles) under 2 tons segments - the same as in August 2022. As for the LCVs in the 2 to 3.5-ton category, the company reported a growth of 11 per cent with 18,768 units sold. In the LCVs exceeding 3.5 tons and MHCVs (Medium and Heavy Commercial Vehicles) segment, Mahindra reported total sales of 949 units - a 47 per cent growth year-on-year.

As for the three-wheeler market, including electric variants the company’s sales surged by 47 per cent, reaching a total of 7,044 units for the month of August.

As for the export figures the company reported a total of 2,423 units exported in August 2023. When considering year-to-date exports, the company shipped 11,897 units, a 17 per cent decline in August than that of F23.
 

Taking a broader view of the year-to-date (YTD) performance, Mahindra & Mahindra's Utility Vehicles segment witnessed substantial growth, with a 31 per cent increase in sales compared to the same period last year. Similarly, the Passenger Vehicles category saw a 29 per cent growth in YTD sales.

Veejay Nakra, President, Automotive Division, M&M Ltd., “We are excited to witness another record month, as we clocked our highest-ever SUV domestic sales of 37,270 in a month with a growth of 26 per cent. We also registered an overall growth of 19 per cent for the month of August. While demand for our key SUV brands continue to be strong, we are keeping a close watch on the availability of semi-conductors and select parts, for sustained and smooth scaleup.”