Mahindra & Mahindra Sees Robust Growth in October Sales

Mahindra & Mahindra Ltd reported a robust 26% growth in auto sales for October, driven by strong domestic passenger vehicle and tractor sales. The company's export numbers also rose significantly. Contributing factors include favorable monsoon conditions and the recent GST rate cut.

Mahindra & Mahindra Ltd has announced a significant surge in its overall auto sales, recording a 26% increase in October. The company sold 1,20,142 units during the month, bolstered by strong domestic passenger vehicle sales.

The Indian automotive giant saw a remarkable 31% rise in domestic passenger vehicle sales, reaching 71,624 units—marking the highest SUV sales achieved in any month, according to Nalinikanth Gollagunta, CEO of the Automotive Division. Domestic commercial vehicle sales also experienced a 14% growth, totaling 31,741 units.

In the farm equipment sector, M&M reported a 13% increase in tractor sales, with domestic sales comprising 72,071 of the 73,660 units sold. Exports grew by 41%. Veejay Nakra, President of the Farm Equipment Business, attributes the success to a favorable monsoon and the impact of the GST rate cut.

(With inputs from agencies.)