Mahindra Reports 17% Sales Growth in May, Passenger Vehicle Sales Surge 31%
Mahindra Reports 17% Sales Growth in May, Passenger Vehicle Sales Surge 31%

Mahindra & Mahindra has announced a significant 17% year-on-year increase in its total wholesales for May, reaching 71,682 units. The company delivered 61,415 units to its dealers during the month, marking a robust performance amid ongoing market challenges.

In a statement released on Saturday, the Mumbai-based auto major highlighted a substantial rise in domestic passenger vehicle sales. Sales in this segment surged by 31% to 43,218 units in May 2024 from 32,886 units in the same period last year.

The company also reported a modest 2% year-on-year growth in exports, with 2,671 units shipped in May 2024 compared to 2,616 units in May 2023.

Mahindra's Farm Equipment Sector (FES) witnessed a notable 9% increase in total tractor sales, which rose to 37,109 units from 34,126 units in May last year. Hemant Sikka, President of the Farm Equipment Sector at Mahindra & Mahindra, attributed this growth to favorable weather conditions.

"With the timely arrival of the southwest monsoon in Kerala and northeast states, and the forecast of an above-normal monsoon, the on-ground sentiments of farmers have improved significantly," Sikka said. He also expressed optimism that the commencement of land preparation activities for Kharif crops would further boost tractor demand in the coming months.

Mahindra & Mahindra, continues to strengthen its market position despite economic uncertainties, reaffirming its commitment to delivering quality products and services to its customers.

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