Auto Sales October 2022: Mahindra's SUV Sales Grow By 61%, Retains Tag Of Number 1 SUV OEM

Mahindra Auto reported its sales for October 2022 and the company sold a total of 61,114 vehicles last month. The automaker's sales remained strong in the SUV space with 32,226 units sold helping the manufacturer retain the number one SUV player tag for the second consecutive month. Mahindra registered a growth of 61 per cent year-on-year in SUV sales, as against 20,034 units sold in October 2021. With respect to year-to-date sales, SUV volumes stood at 199,278 units between April and October 2022, a growth of 78 per cent when compared to 112,050 units sold during the same period last fiscal.

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Speaking on the strong SUV sales, Veejay Nakra, President, Automotive Division, M&M Ltd., said, "Our sales volume continued to grow in October on the back of strong festive demand. We sold 32,226 SUVs in October, registering a growth of 61 per cent fueled by robust demand across our portfolio. Our Commercial Vehicles also registered strong growth for the month."

Mahindra's year-to-date volumes grew by 78 per cent between April and October 2022

Mahindra sold 72 cars and vans in October 2022, registering a decline of 25 per cent when compared to 96 units sold in October last year. The company's total passenger vehicle sales stood at 32,298 units, witnessing a hike of 60 per cent of 20,130 sold in October 2021. Exports, meanwhile, stood at 2,755 units, declining by 13 per cent over 3,174 units shipped in October last year. The company's exports between April and October this year grew by five per cent from 17,553 units in FY2022 to 18,511 in FY2023.

Mahindra's three-wheeler sales (including electric three-wheelers grew by 44%

With respect to commercial vehicle sales, the Light Commercial Vehicles (LCV) under 2-tonne registered a 44 per cent growth with 4,562 units sold, last month as against 3,175 units sold in October 2021. The LCV segment between 2-tonne and 3.5-tonne stood at 15,728 units, registering a 41 per cent growth as against 11,178 units sold in October last year. The 3.5-tonne+ LCV and MHCV segment registered a five per cent decline in volumes with 690 units sold.

The three-wheeler space was particularly impressive for Mahindra with sales growing by 44 per cent. The company sold 5,081 units last month including electric three-wheelers as against 3,527 units, which makes this growth even more impressive.