In the utility vehicles segment, the company sold 41,424 vehicles in the domestic market, registering a growth of 18% YoY and overall, 42,958 vehicles, including exports.
The company sold 22,042 units of commercial vehicles (LCV+MHCV) in December 2024, up 9.02% from 17888 units sold in December 2023. Three-wheelers (including electric 3Ws) sales grew 8% YoY to 5,750 units in December 2024.
Exports for the month stood at 3,092 vehicles, registering a growth of 70% on YoY basis.
Further, the company's Farm Equipment Sector (FES) announced that its total tractor sales (domestic + exports) during December 2024 were at 22,943 units, up 19.88% from 19,138 units in December 2023.
Domestic tractor sales grew by 22% to 22,019 units in December 2024, compared to 18,028 units sold in November 2023. Tractor exports fell 17% to 924 units in December 2024, compared to 1,110 units during the same period last year.
According to Veejay Nakra, President, Automotive Division, M&M, “We sold 41424 SUVs, a growth of 18%, and 69768 total vehicles, a growth of 16% in December. The year ended on a high, as we became the only Indian auto company to attain Dow Jones Sustainability Index (DJSI) world leader status within the auto sector. The DJSI ranking is one of the most respected global benchmarks for ESG performance, covering over 13,000 companies across various industries, and we are ranked 1st among all global auto OEMs.”
Commenting on the performance, Hemant Sikka, President, Farm Equipment Sector, Mahindra & Mahindra, said, “We have sold 22019 tractors in the domestic market during December 2024, a growth of 22% over last year. Sentiments have remained positive in December on account of positive cash flow momentum from the Kharif harvest.
Additionally, favourable reservoir levels have resulted in strong sowing for the rabi season, further bolstering demand for tractors. Looking ahead, the tractor industry is poised for significant growth, underpinned by positive agricultural sentiments and favourable terms of trade for farmers. In the exports market, we have sold 924 tractors.”
M&M Group enjoys a leadership position in farm equipment, utility vehicles, information technology, and financial services in India. It is the world's largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality, and real estate.
On a consolidated basis, the company's net profit jumped 35.05% to Rs 3,170.72 crore on a 10.13% rise in income from operations to Rs 37,923.74 crore in Q2 FY25 as compared with Q2 FY24.