Mahindra & Mahindra, a leading automotive and farm equipment manufacturer, has reported strong sales growth in both its automotive and farm equipment divisions for December 2024. The company saw a significant increase in sales in the domestic market, with utility vehicle sales reaching 41,424 units, marking an 18 per cent growth compared to the previous year. Total automotive sales, including exports, reached 69,768 vehicles, showing a 16 per cent increase.
In the farm equipment sector, Mahindra & Mahindra reported a 22 per cent growth in domestic tractor sales, reaching 22,019 units. Total tractor sales, including exports, increased by 20 per cent to 22,943 units. The company’s light commercial vehicle segment also showed positive momentum with a 16 per cent growth, selling 16,139 units.
Hemant Sikka, President of Mahindra’s Farm Equipment Sector, attributed the strong tractor sales to positive cash flow from the Kharif harvest and favorable reservoir levels supporting the rabi season sowing. 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.
While automotive exports surged by 70 per cent, tractor exports declined by 17 per cent compared to December 2023. Overall, Mahindra & Mahindra’s performance in both the automotive and farm equipment sectors reflects its strong position in the market and its commitment to sustainability and innovation.
The company’s stock price also saw a positive trend, with shares trading at ₹3,056.85, up by ₹49.75 or 1.65 per cent on the NSE at 11 am. This growth in sales and stock price further solidifies Mahindra & Mahindra’s position as a key player in the automotive and farm equipment industry.
