Mahindra & Mahindra (M&M), the Mumbai-based automotive giant, reported a significant 25% growth in the Light Commercial Vehicle (LCV) category weighing more than 3.5 tonnes, including medium and heavy commercial vehicles (MHCV), for September 2024.
The company sold 3,274 units in this segment, compared to 2,618 units in September 2023, marking a substantial increase in sales.
However, other segments showed mixed results. In the LCV category weighing less than 2 tonnes, sales saw a decline of 13%, with 3,444 units sold in September 2024, down from 3,941 units in the same month last year. Similarly, sales in the LCV category weighing between 2 and 3.5 tonnes dropped by 3%, with 16,988 units sold in September 2024 compared to 17,438 units in September 2023.
In the three-wheeler segment, including electric versions, the company saw a strong performance, with 10,044 units sold in September 2024, a 27% increase compared to 7,921 units in September 2023.
Veejay Nakra, President of the Automotive Division at M&M Ltd., said, "This month, we launched the all-new VEERO in the LCV <3.5-tonne segment, based on India’s first multi-energy modular CV platform. With best-in-class mileage, exceptional performance, industry-leading safety features, enhanced occupant protection, and a premium cabin experience, VEERO is set to disrupt the LCV <3.5-tonne space and has received a very positive response from the market."