Strong Sales
M&M's September car despatches hit record high driven by GST cut, festive demand
This story was originally published at 12:00 IST on 1 October 2025
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--Mahindra & Mahindra total vehicle total sales 100,298 units in Sept
--M&M Sept domestic utility vehicle sales 56,233 units, up 10% on year
--Mahindra & Mahindra domestic CV sales 26,728 units in Sept, up 18% on year
--M&M domestic three-wheeler sales 13,017 units in Sept, up 30% on year
--M&M exports 4,320 units in Sept, up 43% on year
--M&M Sept total tractor sales 66,111 units, up 49% on year
--M&M Sept domestic tractor sales 64,946 units, up 50% on year
--M&M Sept tractor exports 1,165 units, up 10% on year
--M&M Apr-Sept domestic utility vehicle sales 297,570 units, up 14% on yr
--M&M Apr-Sept domestic three-wheeler sales 53,578 units, up 32% on year
--M&M Apr-Sept exports 20,303 units, up 38% on year
--M&M Apr-Sept domestic tractor sales 247,336 units, up 20% on year
NEW DELHI – Wholesale sales of sport utility vehicles by Mahindra & Mahindra Ltd. hit a record high in September, driven by a demand push created by a cut in goods and services tax rate and the festival season, according to its Wednesday exchange filing. M&M sold 100,298 automobile units in September, up over 16% on year.
M&M sold 56,233 passenger vehicles last month, with a portfolio comprising only sport utility vehicles. Wholesale sales of these cars grew over 10% on year but a stronger 43% on month. The company had held back despatches to dealerships in August in anticipation of the new GST regime, which became applicable on Sept. 22.
"Thanks to the impetus from GST 2.0 and the preceding weeks' pent-up demand, we have seen robust growth in dealer-reported customer retail during the first nine days of Navratri, with over 60% growth in the SUV segment and over 70% growth in the CV segment compared to the first nine days of Navratri last year," said the Chief Executive Officer of M&M's automotive division Nalinikanth Gollagunta.
M&M further said that billing numbers of its sport utility vehicles were subdued in September due to availability of trailers in the last ten days of September. "The surge in festive demand has placed significant constraints on availability of trailers. We are working to improve dispatches to our dealer network within the constraints," Gollagunta said.
The company sold 26,782 commercial vehicles to dealerships in September, up 18% on year. Within this, sales of light commercial vehicles with load capacity below 2 tonnes fell 2% on year to 3,386 units. Sales of light commercial vehicles with a payload capacity of between 2 and 3.5 tonnes grew 21% on year to 23,342 units.
Wholesale sales of three-wheelers, including electric models, grew 30% on year but fell 37% on month to 13,017 units. M&M exported 4,320 automobile units in September, up 43% on year. Three-wheeler sales and exports are both likely record-high figures, based on data available with Informist.
APR-SEPT SALES
The company sold 297,570 sport utility vehicles in Apr-Sept, up 14% compared to the corresponding period a year ago. Sales of three-wheelers in this period grew 32% on year to 53,578 units. M&M has exported 20,303 automobile units in this financial year so far, up 38% on year. Overall commercial vehicle sales in this period grew 8.5% on year to 131,058 units.
TRACTOR SALES
M&M's agriculture equipment business recorded a rather strong September when it comes to wholesale sales, benefitting from the GST rate cut on tractors and a favourable monsoon season.
The company sold 66,111 tractors in September, up 49% on year. Domestic sales, forming almost the entirety of this, grew 50% on year to 64,946 units. Exports registered a 10% growth to 1,165 units. In Apr-Sept, the company sold 257,025 tractors, up 20% on year. Domestic tractor sales in Apr-Sept grew 20% to 247,336 units while exports grew 12% on year to 9,689 units.
"Honourable Prime Minister's decision on the GST rate cut, has increased offtake in the first 9 days of Navratri which is in the month of September this year compared to October last year," said M&M's farm equipment division chief Veejay Nakra. "This has been further supported by factors like a positive Kharif outlook, increase in the area sown this season and an above-normal monsoon," Nakra added.
Mahindra and Mahindra had reported a net profit of INR 34.50 billion on a revenue of INR 341.43 billion. At 1103 IST, shares of the company traded 1.2% higher at INR 3,467.30 a piece. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Anand JC
Edited by Deepshikha Bhardwaj
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