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Mahindra & Mahindra Ltd. (M&M), one of India’s leading automotive companies, reported total auto sales of 75,901 units in August 2025, registering flat growth compared to the same period last year.
Utility Vehicles and Passenger Vehicles Performance
In the utility vehicles segment, the company sold 39,399 units in the domestic market, reflecting a 9% decline year-on-year (YoY). Including exports, overall utility vehicle sales stood at 40,846 units. Despite the monthly dip, year-to-date utility vehicle sales rose 15%, reaching 2,41,337 units compared to 2,09,148 units in the previous fiscal year.
Passenger vehicle sales were also recorded at 39,399 units in August, mirroring the same -9% YoY trend, though cumulative sales maintained healthy double-digit growth.
Commercial Vehicles and 3-Wheelers
Mahindra’s commercial vehicle segment delivered stable growth momentum. Domestic sales stood at 22,427 units in August. Within this category:
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LCV <2T sales were nearly flat at 2,925 units (-1% YoY).
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LCV 2T–3.5T recorded a strong 13% growth, with 19,502 units sold.
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Three-wheelers (including electric models) saw 13% YoY growth, rising to 10,527 units.
Year-to-date sales of three-wheelers surged by 33%, underlining the growing demand in this segment.
Exports Performance
Exports provided a boost, with 3,548 vehicles shipped in August 2025, marking a 16% increase compared to the same month last year. Cumulative exports also recorded robust growth of 37%, totaling 15,989 units so far in FY26.
Management Commentary
Commenting on the performance, Nalinikanth Gollagunta, CEO of M&M’s Automotive Division, noted that August saw robust SUV demand despite anticipated GST changes. Passenger vehicle Vahan registrations grew 7.4% YoY, while commercial vehicle registrations (in the <7.5T LCV category) expanded 16% YoY.
He added that the company intentionally reduced wholesale billing in anticipation of the final GST announcement, aiming to minimize dealer inventory. The expected GST rationalisation is likely to act as a strong demand driver during the festive season.
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