M&M auto sales rise 16% YoY to 87,839 units in September; tractor sales up 2%; stock gains

  • M&M’s Passenger Vehicles (PV) sales stood at 51,062 units in the domestic market, a growth of 24% from 41,267 units sold in September 2023.

Ankit Gohel
Published1 Oct 2024, 09:56 AM IST
M&M’s exports last month spiked 25% to 3,027 units from 2,419 units, YoY.
M&M’s exports last month spiked 25% to 3,027 units from 2,419 units, YoY.

Mahindra & Mahindra Ltd. (M&M) on Tuesday reported total auto sales at 87,839 vehicles for the month of September 2024, registering a rise of 16% from 75,604 vehicles in the same month last year.

M&M’s Passenger Vehicles (PV) sales stood at 51,062 units in the domestic market, a growth of 24% from 41,267 units sold in September 2023. Overall, in the utility vehicles segment, the auto major sold 52,590 units, including exports.

Total Commercial Vehicles (CV) sales in September increased 6% to 33,750 units from 31,918 units, year-on-year (YoY).

Also Read | PC Jeweller stock hits 5% upper circuit after announcement of 1:10 stock split

“As we enter into the festivities of Navratri, we open bookings for the much-awaited Thar RoXX on 3rd October,” said Veejay Nakra, President, Automotive Division, M&M Ltd.

M&M’s exports last month spiked 25% to 3,027 units from 2,419 units, YoY.

Tractor Sales

M&M’s Farm Equipment Sector (FES), reported a 2% rise in its total tractor sales at 44,256 units last month from 43,210 units, YoY.

Domestic tractor sales in September 2024 increased 3% to 43,201 units, as against 42,034 units during September 2023. Exports for the month dropped 10% to 1,055 units from 1,176 units, YoY.

“Monsoon rainfall has seen an increase of 7.5% over LPA and this has helped increase in Kharif sowing of all crops except cotton. Reservoir levels have recovered very well and are now at 13% higher than LPA, which augurs very well for a bumper Rabi crop. On the back of good kharif crop and likely strong Rabi crop, rural sentiments are positive. With positive terms of trade for farmers and upcoming festivals, we expect robust demand for tractors going forward,” said Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd.

Also Read | BHEL’s fortunes revive as order book fills up on demand for coal-fired power

M&M share price increased over a percent after the release of September auto sales data. M&M stock price gained as much as 1.56% to 3,144.60 apiece on the BSE.

Mahindra & Mahindra shares have seen a stellar rally as the stock jumped over 11% in one month and more than 80% year-to-date (YTD). In the past one year, M&M shares have doubled investors’ money with over 101% returns.

At 9:55 am, M&M shares were trading 0.96% higher at 3,125.95 apiece on the BSE

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

Catch all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

MoreLess
First Published:1 Oct 2024, 09:56 AM IST
Business NewsCompaniesNewsM&M auto sales rise 16% YoY to 87,839 units in September; tractor sales up 2%; stock gains

Get Instant Loan up to ₹10 Lakh!

  • Employment Type

    Most Active Stocks

    Tata Steel share price

    167.05
    11:45 AM | 1 OCT 2024
    -1.4 (-0.83%)

    Tata Power share price

    484.95
    11:45 AM | 1 OCT 2024
    2.25 (0.47%)

    Bharat Electronics share price

    284.55
    11:45 AM | 1 OCT 2024
    -0.5 (-0.18%)

    Zee Entertainment Enterprises share price

    139.70
    11:45 AM | 1 OCT 2024
    2.05 (1.49%)
    More Active Stocks

    Market Snapshot

    • Top Gainers
    • Top Losers
    • 52 Week High

    Blue Dart Express share price

    8,726.45
    11:40 AM | 1 OCT 2024
    529 (6.45%)

    Angel Broking share price

    2,721.00
    11:41 AM | 1 OCT 2024
    159.3 (6.22%)

    Welspun Living share price

    173.60
    11:41 AM | 1 OCT 2024
    9.85 (6.02%)

    Caplin Point Laboratories share price

    2,009.70
    11:41 AM | 1 OCT 2024
    112.15 (5.91%)
    More from Top Gainers

    Recommended For You

      More Recommendations

      Gold Prices

      • 24K
      • 22K
      Bangalore
      77,245.00-160.00
      Chennai
      77,251.00-160.00
      Delhi
      77,403.00-160.00
      Kolkata
      77,255.00-160.00

      Fuel Price

      • Petrol
      • Diesel
      Bangalore
      102.86/L0.00
      Chennai
      100.85/L-0.13
      Kolkata
      104.95/L0.00
      New Delhi
      94.72/L0.00

      Popular in Companies

        HomeMarketsloanPremiumMint Shorts