Auto Sales March 2024: Mahindra Passenger Vehicle Sales Up 13% YoY, At 40,631 Units

Mahindra Auto has announced its sales figures for March 2024. The manufacturer reported monthly sales of 40,631 passenger vehicles in the domestic market, registering an increase of 13 per cent over March 2023. However, the company also posted a 4.17 per cent month-over-month decrease compared to February 2024, down from 42,401 units. It also revealed its FY24 PV sales figures, which amounted to 4,59,864 units in total, and represented an increase of 28 per cent over FY23.

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Veejay Nakra, President, Automotive Division, M&M Ltd said, “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.”

Mahindra posted a month-over-month decrease in sales over February 2024

In terms of commercial vehicle sales, the company sold 20,930 units in March 2024, representing a marginal decrease as against the 22,825 units sold in the same month last year. In the fiscal year however, CV sales stood at 2,62,810 units, up by 5.7 per cent over the previous financial year. Three-wheeler sales on the other hand were down by 7 per cent in the month, amounting to 5279 units, although, sales increased by 33 per cent in FY24 (77,589 units) over the previous fiscal year (58,520 units).

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Mahindra’s exports, however, were on the decline in FY24, amounting to 24,663 units, down by 23 per cent over FY23. Monthly exports also went down from 2115 units in March 2023, to 1573 in March 2024.