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Informist, Monday, Dec. 2, 2024

--M&M Nov total sales 79,083 units

--M&M Nov India utility vehicle sales 46,222 units vs 39,981 units year ago

--M&M Nov commercial vehicle sales 22,042 units vs 22,211 units year ago

--M&M Nov three-wheeler sales 8,043 units vs 6,568 units year ago

MUMBAI – Mahindra & Mahindra Ltd. Monday said it sold a total 79,083 vehicles in November, including exports. The company sold 46,222 sports utility vehicles in November in the domestic market, up 16% on year. Including exports, the company sold 47,294 sports utility vehicles. Domestic commercial vehicle sales were 22,042 units.

During Apr-Nov, the company sold a total of 360,936 sports utility vehicles, up 21% from 298,593 a year ago. The company's total exports, including sales of subsidiary company Mahindra Last Mile Mobility Ltd., were 21,009, up 17% on year.

The automaker sold 18,063 commercial vehicles in the 2.0-3.5 tonne capacity light commercial vehicle category in the month, up 5% on year. The company sold 3,098 light commercial vehicles with less than 2-tonne capacity in November, down 24% on year.

The company sold a total of 881 light commercial vehicles--with 3.5-tonne capacity--and medium and heavy commercial vehicles during the month, up 4% on year. In November, the company sold 8,043 three-wheelers, including electric three-wheelers, up 22% from a year ago.

In the farm equipment sector, the company sold 31,746 units in India in November, up 2% on year. The company's exports of such equipment were 1,632 units in November, up 62% on year. For Apr-Nov, the company sold a total of 313,680 farm equipment units, a growth of 9% on year. For Apr-Nov, the company's domestic sales rose 8% on year to 302,308 units, while exports were up 34% at 11,372 units.

"The marginal decline in the industry is due to shift in festive season of Diwali and Dhanteras as compared to the previous year," Hemant Sikka, president of farm equipment sector, Mahindra & Mahindra, said in a press release.

M&M had reported a net profit of INR 38.41 billion for the September quarter on revenue of INR 275.53 billion. At 1132 IST, shares of the company traded at INR 2,995.20 on the National Stock Exchange, up 1%.  End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Reported by Jahanvi Kothari

Edited by Namrata Rao

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