Mahindra shares rise by 2% after recording 16% growth in total sales

Shares of Mahindra & Mahindra (M&M) saw a 2% jump in share price, hitting an intraday high of Rs 3,501, after announcing its September sales. The automotive company announced that its overall auto sales for the month of September 2025 stood at 100,298 vehicles, recording a growth of 16% including exports.

In its utility vehicles segment or SUVs, the company sold 56,233 vehicles in the domestic market in the bygone month, with a growth of 10% over last year’s 51,062 units.  The tally also includes sales made under Mahindra Electric Automobile Limited. The Billing numbers of SUVs for September were subdued due to the availability of trailers in the last 10 days of the month. Overall, the company sold a total of 58,714 utility vehicles, which includes exports. 

Overall passenger vehicle sales on a year-to-date(YTD) basis grew by 14%, to 2,97,570, from last year’s 2,60,210 units.

Sale of three-wheelers, including electric vehicles, saw a 30% increase, up from 10,044 units to 13,017 units sold in September 2025. On a year-to-date (YTD) basis, sales grew by 32%, from 40614 vehicles last year to 53578 units in the same span of the current calendar year. 

Similarly, light commercial vehicles (LCVs) with a payload between 2 tonnes and 3.5 tonnes also saw sales increase by 21% on a year-on-year (YoY) basis to 23,342 units from 19,252 units. On a YTD basis, it grew by 12% from last year’s 1,01,643 vehicles. Yet, LCVs with a payload capacity under 2 tonnes saw a 2% decline YoY in sales, from 3444 units to 3386 units. It also slipped by 12% on a YTD basis in comparison to last year. 

Total exports increased to 4,320 units from 3,020 units in September 2024, recording a steep jump of 43%, while also seeing a 38% increase in sales in the January to September period for the current calendar year.

According to Nalinikanth Gollagunta, CEO, Automotive Division, M&M Ltd., “In September, we achieved SUV sales of 56,233 units, a growth of 10%, and total vehicle sales of 100,298 units, a 16% growth compared to the same month last year. 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. 

Explaining the drop in LCV sales, he said, “The surge in festive demand has placed significant constraints on the availability of trailers. We are working to improve dispatches to our dealer network within the constraints.”

At the time of reporting, M&M shares were trading at Rs apiece, up by 1.14% from yesterday’s close.