Mahindra Shares Recover After Decline; Auto Sales Data Show 22% Rise In Passenger Vehicle Sales

The auto sales are upon us and after Bajaj Auto, it is Mahindra and Mahindra, one of the biggest automakers in the country, to showcase their sales for the previous month.

PV Sales Jump By Over 22%

In an exchange filing submitted by the automaker, the company's domestic cumulative passenger vehicle sales for June 2024 stood at 40,022 units, compared to 32,588 units, marking a 22.81 per cent growth in the sales.

Meanwhile, when it comes to commercial vehicles, including 3-wheelers, the company sold as many as 26,778 units of them in June of FY25, compared to 27,336 units in FY24, marking a 2 per cent decline in their sales. It is to be noted that these numbers have the company's domestic sales in focus.

When it comes to the company's other wings, that is, the sale of tractors, the company sold 44,478 units in June FY24, this jumped to 47,319 units in June FY25, increasing the sales of the agricultural wagon by 6 per cent.

Tractor Exports Rise

Here, there was a sharp rise in the export of these tractors. The export of these vehicles rose by a mammoth 28 per cent.

In a statement issued by the company through an exchange filing, the company's President of the Automotive Division, Veejay Nakra, said, “We sold a total of 40,022 SUVs in June, a growth of 23% and 69,397 total vehicles, a 11 per cent growth over last year.

June has been a momentous month, as we rolled out the 200,000th XUV700 from our facility. We also celebrated 25 years of Bolero Pik-Ups, a category creator and a market leader in the LCV segment.”

The company shares have ostensibly been placated by these numbers. After the initial lull in the company share's prospects, wherein the shares saw a marginal decline, the investors appear to have put their faith back in the entity's potential as the share values recovered.

At the halfway mark of the intraday trade, at 11:55 IST, the company shares rose by 0.26 per cent or Rs 7.50, taking the cumulative value Rs 2,874.15 per share.