Mumbai, April 1, 2026: Mahindra & Mahindra Ltd. (M&M Ltd.) has reported total vehicle sales of 99,969 units in March 2026, registering a 21% year-on-year growth, including exports. The strong monthly performance was led by robust demand in the company’s core SUV portfolio, alongside steady growth in commercial vehicles.

SUVs Continue to Drive Momentum

Mahindra’s Utility Vehicles (UV) segment remained the key growth engine, with 60,272 units sold in the domestic market, marking a 25% YoY increase compared to March last year. Including exports, total SUV sales stood at 62,109 units.

The company’s expanding SUV lineup continues to resonate strongly with Indian consumers, contributing significantly to its overall growth trajectory.

Commercial Vehicles Post Steady Gains

In the commercial vehicle (CV) segment, Mahindra recorded 24,928 domestic sales, reflecting an 11% year-on-year growth. The segment continues to benefit from improved demand in last-mile delivery, logistics, and infrastructure-led sectors.

Additionally, three-wheelers, including electric models, saw notable traction with 39% growth in March, highlighting increasing adoption in urban mobility and last-mile transport.

FY26 Ends with Record-Breaking Volumes

The financial year FY 2025–26 concluded on a high note for Mahindra & Mahindra Ltd., with the company achieving all-time-high annual sales across key segments:

• SUVs: 6,60,276 units (20% YoY growth)
• LCVs (<3.5T): 2,89,597 units (13% YoY growth)

This milestone underscores Mahindra’s strong market positioning and sustained demand across both personal and commercial mobility segments.

Leadership Commentary

Nalinikanth Gollagunta, CEO of the Automotive Division at M&M Ltd., stated that the company closed the financial year on a “very positive note,” achieving its highest-ever volumes in both SUVs and LCV (<3.5T) segments.

He highlighted that March SUV sales of 60,272 units (up 25%) and LCV sales of 24,928 units (up 11%) were instrumental in driving the company’s overall 21% growth, with total monthly volumes nearing the 1 lakh mark.

Segment-Wise Performance Snapshot

Passenger Vehicles (Domestic – March 2026)

• Utility Vehicles: 60,272 units (+25% YoY)
• Total Passenger Vehicles: 60,272 units (+25% YoY)

Commercial Vehicles & 3-Wheelers (Domestic – March 2026)

• LCV <2T: 3,526 units (flat YoY)
• LCV 2T–3.5T: 21,402 units (+13% YoY)
• 3-Wheelers (incl. EVs): 10,801 units (+39% YoY)

Exports

• March 2026: 3,968 units (-4% YoY)
• FY26 Total Exports: 40,990 units (+18% YoY)

Outlook

With record annual volumes, strong SUV demand, and steady growth across commercial segments, Mahindra & Mahindra Ltd. is well-positioned to sustain its upward momentum into FY27. Continued focus on product innovation, electrification, and market expansion is expected to further strengthen its leadership in India’s automotive sector.