Mahindra & Mahindra reported robust sales growth across its automotive and farm equipment divisions in December 2024. The company’s utility vehicle sales reached 41,424 units in the domestic market, marking an 18 per cent increase compared to the same period last year. Total automotive sales, including exports, grew by 16 per cent to 69,768 vehicles.

The shares of Mahindra & Mahindra Limited were trading at ₹3,056.85 up by ₹49.75 or 1.65 per cent on the NSE today at 11 am.

In the farm equipment sector, domestic tractor sales rose 22 per cent to 22,019 units from 18,028 units in December 2023. Total tractor sales, including exports, increased by 20 per cent to 22,943 units.

The company’s light commercial vehicle segment (2T – 3.5T) showed positive momentum with a 16 per cent growth, selling 16,139 units. However, smaller commercial vehicles under 2T experienced a 15 per cent decline.

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Hemant Sikka, President of Mahindra’s Farm Equipment Sector, attributed the strong tractor sales to positive cash flow from Kharif harvest and favorable reservoir levels supporting rabi season sowing. Meanwhile, Veejay Nakra, President of the Automotive Division, highlighted Mahindra’s achievement as the only Indian auto company to attain world leader status in the Dow Jones Sustainability Index within the Auto Sector.

Export performance was mixed, with automotive exports surging 70 per cent while tractor exports declined 17 per cent compared to December 2023.