Mahindra Sales in November 2024: Records 15.61% YoY Growth, Check Stats

Mahindra's sales data for November 2024 shows that the company sold 46,222 passenger vehicles, reflecting a 15.16% year-on-year (YoY) growth from 39,981 units sold in November 2023. This is an increase of 6,241 units. However, month-on-month (MoM) sales declined by 15.20%, compared to 54,504 units sold in October 2024, resulting in a decrease of 8,282 units.

Mahindra has introduced two new electric SUVs, the BE6e and XEV9e, built on the electric origin architecture INGLO and powered by MAIA. Both models come with several first-in-segment features, and their prices have been announced. Deliveries for these models are set to begin in early 2025.

Mahindra Sales in November 2024

Mahindra Passenger Vehicle Sales Nov 2024

Mahindra's passenger vehicle (PV) sales for November 2024 were entirely driven by the company's utility vehicle (UV) lineup, with no sales of cars or vans in recent months. UV sales reached 46,222 units, marking a 16% increase compared to 39,981 units sold in November 2023. Between April and November 2024, the company sold a total of 360,936 units, reflecting a 21% year-to-date (YTD) increase over 298,593 units sold during the same period in 2023. The Thar Roxx, Scorpio/N, and XUV 700 were the key models contributing to this growth.

In the commercial vehicle (CV) segment, Mahindra saw overall improved demand, despite a decline in sales of light commercial vehicles (LCVs) under 2 tons. LCV sales dropped by 24% year-on-year (YoY), falling to 3,098 units in November 2024 from 4,083 units sold in November 2023. Year-to-date (YTD) sales also showed a decline, with a 10% drop to 26,225 units in FY25, compared to 29,047 units sold in FY24.

Sales of larger 3.5T LCVs, along with medium and heavy commercial vehicles (MHCVs), also showed a 4% YoY growth, reaching 881 units in November 2024, compared to 844 units in November 2023. However, YTD sales in this category declined by 3%, with 8,067 units sold in FY25, down from 8,278 units in the same period last year.

Mahindra Reports Rising Exports in Nov 2024

Mahindra experienced a significant surge in exports in November 2024. Exports rose to 2,776 units, reflecting a 53% year-on-year (YoY) growth compared to 1,816 units shipped in November 2023. On a year-to-date (YTD) basis, exports also showed positive growth, increasing by 17% to 21,009 units in FY25, up from 17,986 units sold in FY24.

Mahindra's Farm Equipment Sector saw strong demand in November 2024, with both year-on-year (YoY) and year-to-date (YTD) sales growth. The favorable monsoon season and a good Rabi crop have driven farmers to showrooms for tractor purchases. In November 2024, domestic tractor sales reached 31,746 units, reflecting a 2% YoY growth from 31,069 units sold in November 2023. Exports saw even more impressive growth, with a 62% increase, reaching 1,632 units in November 2024, compared to 1,005 units shipped in November 2023.