Mahindra records highest-ever monthly sales in October at 96,648 units

New Delhi, Nov: Mahindra & Mahindra on Friday reported its best-ever monthly sales in October with 96,648 units, marking a 20 percent year-on-year increase.

The Mumbai-based auto major had dispatched 80,679 units to dealers in October last year.

In the utility vehicles segment, it sold 54,504 units in the domestic market, a growth of 25 per cent over 43,708 units in the year-ago period, Mahindra & Mahindra (M&M) said in a statement.

Overall passenger vehicle wholesales, including exports, stood at 55,571 units.

Domestic sales of commercial vehicles stood at 28,812 units last month, the auto major said.

"We are excited to have clocked the highest-ever SUV sales of 54,504 vehicles in October, a growth of 25 per cent and the highest-ever total volume of 96,648, a growth of 20 per cent," M&M President Automotive Division Veejay Nakra said.

The month began on a fantastic note with Thar ROXX garnering 1.7 lakh bookings in the first 60 minutes and the positive momentum continued across the SUV portfolio through the festive season, he added.

M&M's Farm Equipment Sector (FES) reported the highest-ever monthly domestic sales at 64,326 tractors last month as compared with 49,336 units during October 2023.

Total tractor sales, including exports, last month stood at 65,453 units, as against 50,460 units in the same period of 2023.

"The tractor industry has seen a very robust growth on the back of many positive factors coming together, notable being a very good monsoon, a good Kharif crop, high reservoir levels which will help in Rabi crops, and the government's announcement of higher MSP on key Rabi crops," M&M President FES Hemant Sikka said.

With the festive season providing momentum to positive sentiments, the company expects demand to remain strong in the coming months, he added.

He noted that the company exported 1,127 units last month.