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Syed Usman Hasan
01 Apr 2024

Mahindra Records Drop in Domestic CV Sales: Sold 26,209 Units, March 2024

By Syed Usman Hasan News Date 01 Apr 2024

Mahindra Records Drop in Domestic CV Sales: Sold 26,209 Units, March 2024

Mahindra & Mahindra Saw Decrease in Both Domestic and Export CV Sales: 6.33% and 26.00%, respectively.  

The LCV > 3.5T + MHCV category saw remarkable growth, with a 126% surge in truck sales. 

In March 2024, Mahindra & Mahindra, a leading manufacturer of commercial vehicles, saw a decrease of 6.33% in its domestic CV sales. There was a drop in numbers, from 27,979 units in March 2023 to 26,209 units in March 2024.

The Mahindra sales report for March 2024 included data on sales for different types of vehicles. Now, let's examine the sales data for each category.

LCV<2T 

The category registered sales of 4,012 units in March 2024, compared to 3,385 units in March 2023. The brand witnessed a 19% increase in sales growth. 

LCV 2 T–3.5 T 

Mahindra closed the March 2024 sales with 13,601 units, whereas the units sold by LCV 2 T–3.5 T were 17,428 in the same month last year. The brand experienced a 22% decline in the 2024 FY. 

LCV > 3.5T + MHCV  

The LCV > 3.5T + MHCV segment experienced 126% growth in March. To illustrate, the segment sold 3,317 CVs in March 2024, compared to 1,469 units in March 2023.  

3 Wheelers (Including Electric 3Ws)

The 3-wheeler category, including the electric segment, also registered a decrease in sales. They sold 5,279 units of 3-wheelers and electric 3-wheelers in March 2024, compared to 5,697 units in March 2023. As a result, the brand registered a 7% fall. 

Official Statement For Mahindra CV Sales Report, March 2024

According to Veejay Nakra, President of the Automotive Division at M&M Ltd., “We ended the financial year F24 on a positive note with Mahindra PikUps crossing 2 lakh units during the year, which is the highest ever for any commercial vehicle in the load segment in India. In March, we sold a total of 40,631 SUVs, with a growth of 13%, and 68,413 total vehicles, a 4% growth over last year.”

Check Mahindra Export CV Sales Statistics March 2024

Mahindra & Mahindra, a top commercial vehicle (CV) maker worldwide, has a strong presence in more than 100 countries. In March 2024, Mahindra's Export CV Sales saw a decrease in sales volume, dropping to 1,573 units from 2,115 units in March 2023, showing a significant 26% decline.

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