Mahindra Auto sells 43,277 SUVs, a 16% growth in August 2024

Mahindra & Mahindra Ltd announced that its overall auto sales for the month of August 2024 stood at 76,755 vehicles, including exports.

In the Utility Vehicles segment, Mahindra sold 43277 vehicles in the domestic market, a growth of 16% and overall, 44670 vehicles, including exports. The domestic sales for Commercial Vehicles stood at 21092. According to Veejay Nakra, President, Automotive Division, M&M Ltd., “We sold a total of 43,277 SUVs in August, a growth of 16% and 76,755 total vehicles. India’s Independence Day holds a significant place for us at Mahindra and this year we celebrated the day with the launch of the much-awaited THAR ROXX – ‘THE’ SUV. With Thar ROXX, we're setting our sights on making the Thar franchise the No. 1 SUV franchise (>12.5 Lakh segment) by volume within the next 3 to 5 years”.

Mahindra & Mahindra Ltd said on May 16 it will invest Rs 12,000 crore in its electric vehicle (EV) unit, Mahindra Electric Automobile, over a period of three years up to March 31, 2027.

Mahindra Electric Automobile Limited, a subsidiary of M&M, has been incorporated on October 25, 2022 in India. Total Income of MEAL for the year ended March 31, 2024 was Rs 56.96 crores.

Net worth of MEAL as on March 31, 2024 stood at Rs 3,207.14 crore. The revenue from operations of MEAL for FY24 was nil.