Mahindra Sales Soar 21% in March, SUV Demand Drives Record FY26

Utility Vehicles domestic sales touched 60,272 units in March, up 25 per cent, while overall UV sales including exports reached 62,109 units. Domestic Commercial Vehicles sales for the month were 24,928, marking a growth of 11 per cent.

The company reported year‑to‑date exports rising 18 per cent to 40,990, while total exports eased 4 per cent year‑on‑year to 3,968 vehicles in March.

The financial year concluded with all‑time‑high volumes of 6,60,276 SUVs and 2,89,597 light commercial vehicles under 3.5 tonnes, delivering robust YoY growth of 20 per cent and 13 per cent, respectively, across both segments, the company said in a release.

"In March, we achieved SUV sales of 60,272 units, a growth of 25 per cent and light commercial vehicles under 3.5 tonnes of 24,928 units, a growth of 11 per cent YoY," said Nalinikanth Gollagunta, CEO, Automotive Division, M&M Ltd.

Passenger vehicle domestic sales for March comprised 60,272 UVs, and no cars or vans were reported in the release.

In the commercial vehicle and three‑wheeler mix, LCVs under 2 tonnes remained stable at 3,526 in March, while LCVs in the 2-3.5 tonne segment rose 13 per cent to 21,402. Three‑wheeler sales, including electric three‑wheelers, surged 39 per cent to 10,801 in March, and YTD volumes for three‑wheelers reached 1,12,003, up 30 per cent.

The company had reported strong sales growth in February 2026, with overall auto sales rising 18 per cent year-on-year to 97,177 vehicles, including exports.

The company said its UV segment remained a key driver of growth. Mahindra sold 60,018 SUVs in the domestic market, registering a 19 per cent increase compared to the same month last year.

Following this, shares of M&M were trading at Rs 3,051, an increase of 3 per cent on the NSE on Wednesday noon.

- IANS