Khyati Sharma 2026-11-02
Mahindra & Mahindra has delivered a strong sales performance in October 2026, achieving its highest-ever monthly automotive sales of 1,31,109 vehicles, including exports. The company's overall automotive sales increased by 9% year-on-year compared with 1,20,142 vehicles sold in October 2025.
The biggest highlight was the company's domestic SUV performance. Mahindra sold 73,338 SUVs in October 2026, registering 2% growth compared with 71,624 units sold in October 2025. This is the highest-ever monthly domestic SUV sales figure recorded by the company.
Mahindra's commercial vehicle business also delivered positive growth, with domestic sales of light commercial vehicles reaching 33,037 units, up 4% year-on-year. Meanwhile, exports increased significantly by 77% to 7,102 vehicles.
The company's strong October performance reflects continued demand for SUVs, pickup vehicles, three-wheelers and other mobility products during the festive season.
October 2026 was an important month for Mahindra across its automotive business. The company recorded growth in several major vehicle categories, with SUVs remaining its biggest domestic passenger vehicle segment.
Here are the key sales highlights:
Total automotive sales: 1,31,109 units, including exports.
Total sales growth: 9% year-on-year.
Domestic SUV sales: 73,338 units.
SUV sales growth: 2% year-on-year.
Domestic LCV sales: 33,037 units.
LCV sales growth: 4% year-on-year.
Three-wheeler sales: 17,632 units, up 38%.
Exports: 7,102 units, up 77%.
The numbers show that Mahindra's growth was not limited to its SUV portfolio. Its commercial mobility products and international business also contributed to the overall performance.
Mahindra's SUV business continued to be a major contributor to its October 2026 performance. The company recorded domestic sales of 73,338 utility vehicles, marking a new monthly record.
In October 2025, Mahindra had sold 71,624 SUVs in the domestic market. The latest performance represents an increase of 1,714 units and year-on-year growth of approximately 2.4%.
Including exports, Mahindra's total utility vehicle sales reached 74,904 units during October 2026.
The company's SUV portfolio includes popular models such as the Scorpio-N, Scorpio Classic, XUV700, Thar, Thar ROXX, Bolero, Bolero Neo, XUV 3XO and XUV 3XO ZNG.
The wide range of products allows Mahindra to serve customers looking for compact SUVs, family-oriented vehicles, lifestyle off-roaders and rugged utility vehicles.
The company has also been expanding its technology and powertrain offerings to attract customers in different SUV categories.
Mahindra's commercial vehicle business recorded domestic sales of 33,037 units in October 2026, representing 4% growth compared with 31,741 units in October 2025.
The light commercial vehicle category between 2 tonnes and 3.5 tonnes remained an important contributor, with sales reaching 28,654 units.
This category registered 5% year-on-year growth compared with 27,182 units in October 2025.
The smaller LCV category below 2 tonnes recorded sales of 4,383 units, compared with 4,559 units in the same month last year, marking a 4% decline.
Mahindra Commercial Vehicle Sales Breakdown
| Vehicle Category | October 2025 | October 2026 | Growth |
|---|---|---|---|
| LCV Below 2 Tonnes | 4,559 | 4,383 | -4% |
| LCV 2–3.5 Tonnes | 27,182 | 28,654 | +5% |
| Total LCV Sales | 31,741 | 33,037 | +4% |
Mahindra's commercial vehicle portfolio includes products designed for cargo transportation, small businesses, logistics operators and last-mile delivery applications.
Models such as the Bolero Maxx Pik-Up range and other small commercial vehicles play an important role in the company's commercial mobility business.
The positive growth in the 2–3.5-tonne segment indicates continued demand for vehicles used in goods transportation and business operations.
Mahindra also recorded strong growth in its three-wheeler business during October 2026.
Domestic three-wheeler sales, including electric vehicles, reached 17,632 units, compared with 12,762 units in October 2025. This represents impressive year-on-year growth of 38%.
The performance highlights the continued importance of three-wheelers in India's passenger and cargo transportation markets.
Mahindra has a presence in this segment through its Last Mile Mobility business, which offers electric and conventional three-wheeler solutions.
Electric three-wheelers are becoming increasingly important for urban transportation, passenger mobility and last-mile delivery operations.
The growing interest in lower operating costs and electric mobility could provide additional opportunities for manufacturers in this segment.
Exports were another major highlight of Mahindra's October 2026 performance.
The company exported 7,102 vehicles during the month, compared with 4,015 units in October 2025. This represents a substantial year-on-year increase of 77%.
Mahindra's growing international presence provides additional opportunities for its automotive business beyond the domestic Indian market.
The company has been strengthening its global presence through its utility vehicles and commercial mobility products.
The strong export growth in October also contributed to the company's record total monthly automotive sales.
Another important development during October was the introduction of the Mahindra XUV 3XO ZNG, the company's first factory-fitted CNG passenger vehicle.
The XUV 3XO ZNG was introduced to provide customers with an alternative fuel option while retaining the familiar SUV design and practicality of the standard XUV 3XO.
It uses a 1.2-litre mStallion turbo-petrol engine with a factory-fitted twin-cylinder CNG system.
The CNG configuration is designed to offer a balance between performance and running costs. The twin-cylinder arrangement also helps retain usable boot space compared with some conventional CNG installations.
Mahindra reported strong customer traction for the XUV 3XO ZNG during its October sales announcement.
The introduction of this model reflects the company's efforts to expand its powertrain choices and reach customers looking for more economical mobility solutions.
Commenting on the company's October 2026 performance, Dr. Velusamy R, President of Automotive Business at Mahindra & Mahindra, highlighted the record-breaking SUV and total vehicle sales.
He noted that the festive season, along with the refreshed product portfolio, helped maintain strong demand across SUVs, pickups and three-wheelers.
He also highlighted the positive customer response to Mahindra's first CNG passenger vehicle, the XUV 3XO ZNG.
The company's performance suggests that its product expansion strategy and strong presence in the SUV segment continue to support its automotive business.
While Mahindra's automotive business delivered record results, its Farm Equipment Business reported a decline in domestic tractor sales during October 2026.
The company sold 62,626 tractors in the domestic market, compared with 72,071 units in October 2025, representing a 13% year-on-year decline.
Total tractor sales, including exports, stood at 64,846 units during the month.
Mahindra attributed the domestic tractor sales decline mainly to a shift in the festive calendar. Diwali fell in November in 2026, compared with October in 2025, affecting the timing of customer purchases.
However, tractor exports increased by 40% to 2,220 units.
This distinction is important because the record automotive sales figure and the tractor sales performance relate to separate business divisions.
Mahindra's Trucks and Buses business also reported strong growth in October 2026.
The combined business, including Mahindra Truck and Bus Division (MTBD) and SML Mahindra, recorded sales of 2,838 vehicles, compared with 2,034 units in October 2025.
This represents year-on-year growth of 40%.
Cargo vehicle sales increased to 2,036 units from 1,255 units, registering growth of 62%. Passenger vehicle sales reached 802 units, compared with 779 units in the previous year.
The Mahindra Truck and Bus Division recorded particularly strong growth, with its total sales increasing 82% to 1,773 units.
The performance reflects demand across cargo transportation and passenger commercial vehicle categories.
| Business Segment | October 2026 Sales | YoY Growth |
|---|---|---|
| Domestic SUVs | 73,338 | +2% |
| Utility Vehicles Including Exports | 74,904 | — |
| Domestic LCVs | 33,037 | +4% |
| Domestic Three-Wheelers | 17,632 | +38% |
| Total Automotive Sales Including Exports | 1,31,109 | +9% |
| Automotive Exports | 7,102 | +77% |
| Domestic Tractor Sales | 62,626 | -13% |
| Total Tractor Sales Including Exports | 64,846 | -12% |
| Trucks and Buses | 2,838 | +40% |
Mahindra's October 2026 results highlight the continued importance of SUVs and commercial mobility products in India's automotive market.
The record domestic SUV sales indicate that customer interest in the company's utility vehicle portfolio remains strong. The growth in commercial vehicles and three-wheelers also demonstrates the contribution of business and last-mile transportation demand.
The 77% increase in exports is another positive development, showing that Mahindra's business is gaining additional momentum in international markets.
However, the decline in tractor sales indicates that performance across the company's different business divisions remains mixed and can be influenced by seasonal factors.
Going forward, Mahindra's ability to maintain SUV demand, expand its commercial vehicle portfolio, improve exports and introduce new powertrain options will be important for its growth.
Mahindra & Mahindra recorded a landmark performance in October 2026, achieving its highest-ever monthly automotive sales of 1,31,109 vehicles, including exports.
Domestic SUV sales reached a record 73,338 units, while commercial vehicle sales increased 4% to 33,037 units. Three-wheeler sales grew 38%, and automotive exports jumped 77%.
The introduction of the XUV 3XO ZNG and continued demand across the company's SUV and pickup portfolio also supported its performance.
Although tractor sales declined due to the shift in the festive calendar, the overall automotive business delivered a strong result. Mahindra's October performance reinforces its position as one of India's major SUV and commercial vehicle manufacturers.
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