M&M December sales: Domestic SUVs sales up 24% Y-o-Y on strong demand

December auto sales: Mahindra & Mahindra Limited (M&M Ltd) sold 35,171 SUVs in the month of December domestically, recording a 24 per cent year-on-year (Y-o-Y) growth, according to an exchange filing by the company on Monday. Cars and vans saw a significant drop of 97 per cent Y-o-Y sales, with the company only selling three units in the last month of the calendar year.

In the three-wheeler category, M&M Ltd saw a marginal YoY increase of five per cent, selling 5,307 units, compared to 5,052 sold in December 2022.

Total exports for the company also fell 41 per cent YoY, with the company selling 1,819 units in December, compared to 3,100 sold last year.

The automaker announced that its overall auto sales for the month of December 2023 stood at 60,188 vehicles, a growth of 6 per cent, including exports. The domestic sales for commercial vehicles stood at 17,888.

Explaining the slowdown in exports and car sales, Veejay Nakra, President, Automotive Division, M&M Ltd stated, "We continued to face some supply challenges on select parts. We are working closely with our suppliers to mitigate these challenges going forward".

The overall sales indicate a growing preference for SUVs in the domestic market. In November, the company also reported a 31 per cent YoY increase in SUV sales.

Year-to-date sales in December 2023

Overall, year-to-date (YTD) domestic sales of passenger vehicles saw a 29 per cent increase in December 2023. The company sold 333,777 units compared to 259,858 sold in December 2022.

YTD domestic sales of commercial vehicles also went up 48 per cent to 60,503, compared to 40,911 in December 2022.

YTD exports fell 20 per cent to 19, 805 compared to 24,733 recorded during the same period last year.