Mahindra Auto Records Record SUV Sales of 73,338 Units in Oct '26; Farm Equipment Sees 13% Decline
Mahindra & Mahindra's Automotive division recorded its highest-ever monthly sales in October 2026, with 73,338 SUVs sold domestically and total vehicle sales at 131,109 units. Farm Equipment sales declined 13% YoY to 62,626 tractors domestically due to a festive calendar shift. Trucks & Buses business grew 40% to 2,838 vehicles.
Record-breaking sales in a key segment (SUVs) and overall automotive growth are material events that can significantly influence investor perception and stock performance.
The automotive segment achieved record-breaking sales, and the Trucks & Buses business showed significant growth, indicating a strong positive performance for these divisions.
Mahindra & Mahindra Ltd. (M&M) announced its monthly sales performance for October 2026, showcasing significant growth in its automotive segments while experiencing a decline in farm equipment sales.
The company's overall auto sales for October 2026 reached 131,109 vehicles, marking a 9% increase year-on-year, including exports. The Utility Vehicles (UV) segment recorded its highest-ever domestic sales, with 73,338 units sold, a 2% growth. Total UV sales, including exports, stood at 74,904 vehicles. The Commercial Vehicles segment also saw growth, with domestic sales of 33,037 units, up 4%.
Dr. Velusamy R, President, Automotive Business, M&M, expressed satisfaction, stating, "October was a landmark month for us, with SUV sales topping at 73,338 units and total vehicle sales of 131,109, both the highest we have ever clocked in a month." He attributed the strong performance to the festive season, a refreshed portfolio, and positive customer traction for its new CNG vehicle, the XUV 3XO ZNG.
In contrast, Mahindra's Farm Equipment Business (FEB) reported a domestic tractor sales volume of 62,626 units in October 2026, a 13% year-on-year decline from 72,071 units in October 2025. Veejay Nakra, President – Farm Equipment Business, attributed this dip primarily to a festive calendar shift, with Diwali moving to November in 2026. However, exports in the farm equipment segment showed robust growth, increasing by 40% to 2,220 units.
The Trucks & Buses business reported a strong performance with overall sales (including exports) of 2,838 vehicles, a 40% year-on-year growth. Cargo vehicle sales in this segment grew by 62% to 2,036 units, while passenger vehicle sales increased by 3% to 802 units.
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