Notably, one of India's premier SUV players, Mahindra Auto, made a grand exit for the month of March 2025 by opening the sales book. Under his immediate supervision, the company announced the sales figures for its complete passenger SUVs, commercial vehicles, and farm equipment range. The company has registered good sales figures across the segments.
Overall, Mahindra registered a total of 83,894 units in March 2025, a 23% year-on-year growth. All sales from both domestic and export are included in this count. If we dissect these figures relative to the organization's growth, we see that Mahindra has expanded greatly and emerged as a leading automaker in India across PVs, CVs, and even farm equipment.
Mahindra in the domestic market sold 48,048 units in the last month; all of these 48,048 units were SUVs, a prideful statement for Mahindra Car and something not witnessed by any other car maker in India. With 18% YoY growth, compared with sales in March 2024 of 40,631 units, it gained 7,414 units in volume. YTD, Mahindra's SUV sales stand at 5,51,487 units, with a 20% YoY growth compared with 4,59,864 sales in the same period last year. If we compare March 2025 sales of 50,420 units with February 2025 sales, a slight drop of 4.70% or 2,372 units is seen. Export numbers included: Mahindra sold 50,835 SUVs last month.
CV and Tractor Sales Mahindra’s commercial vehicle operations are currently leading between 2T to 3.5T capacity for LCV sales, which registered an impressive growth of 23% YoY last month with total sales of 18,958. The same gross growth was not apparent for LCV <2T capacity since they sold quite a modest 3,530 units, registering a de-growth of 12% YoY. One could say it was a comparable situation for the LCV >3.5T+MHCV segment, with Mahindra selling 1,463 units resulting in a 4% sales decrease. Mahindra's 3W CV performance is improving, with sales of 7,752 units in March 2025, recording a substantial year-on-year growth of 47% against 5,279 units sold in March 2024.
In the area of exports, Mahindra has performed remarkably well, with shipments totaling 4,143 units last month, achieving a staggering growth of 163% YoY compared to 1,573 units sold during the same period last year.
In the tractors segment of Mahindra's Farm Equipment Sector, an altogether different story emerges in the comparison of YoY growth. Mahindra sold 32,582 units in the domestic market, with a further 2,352 units outside India, giving a total of 34,934. This allowed for a 34%-YoY growth for the domestic market, 35%-export growth YoY, and 34%-YoY growth in total. A statement from Mahindra, as shared by Veejay Nakra, President, Automotive Division, M&M Ltd., read: "In March, we sold a total of 48,048 SUVs, with a growth of 18% and 83894 total vehicles, a 23% growth from last year. We also started the deliveries of our Electric Origin SUVs, where we see a strong continued demand momentum. The year ended positively with us selling over 5 lakh SUVs in the domestic market for the first time."
In his comments regarding March performance, Hemant Sikka, President of Farm Equipment Sector, Mahindra &Mahindra Ltd., said, "In March'25, we sold 32,582 tractors in the domestic market, recording a growth of 34% over the previous year. The tractor industry has seen good momentum owing to favorable weather conditions, good reservoir levels, strong rabi outlooks, and favorable terms of trade for farmers. The harvest season for northern regions has already started and is expected to go smoothly across the country. The last week's delivery momentum in March picked up due to festivities and is expected to continue in Q1 FY26 with the very good rabi crop harvest expectation and the enhanced cash flow in the hands of the farmers. In the exports market, we sold 2352 tractors, an increase of 35% compared to last year."
About M&M's performance in F'25, Hemant further added, "We have registered our highest-ever tractor sales in F25 with a whopping 12% growth, owing to powerful retail sales across the country and lowest ever channel inventory at dealers."
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