Mahindra & Mahindra Ltd. (M&M Ltd.), one of India’s leading automotive manufacturers, reported a strong start to 2026 with total vehicle sales of 104,309 units in January, marking a 24% year-on-year growth, including exports.
The company’s performance was led by robust demand in the utility vehicle (UV) segment, where Mahindra sold 63,510 SUVs in the domestic market, registering a 25% growth compared to January 2025. Overall UV sales, including exports, also stood at 63,510 units for the month.
Commercial Vehicles and Last-Mile Mobility Show Momentum
Mahindra’s domestic commercial vehicle sales reached 27,656 units, reflecting a 22% year-on-year increase. Within this category:
- Light Commercial Vehicles (LCV) below 2 tonnes grew by 13% to 4,009 units.
- LCV 2–3.5 tonnes recorded a 23% rise with 23,647 units sold.
The three-wheeler segment, including electric three-wheelers, also delivered a strong performance, with sales rising 28% to 9,566 units in January 2026.
Exports Maintain Positive Trend
Mahindra’s exports posted steady growth during the month. Total export volumes increased by 5%, reaching 3,577 units, while year-to-date exports grew by 23%, underlining the company’s expanding global footprint.
Record Bookings for New Models
Commenting on the sales performance, Mr. Nalinikanth Gollagunta, CEO – Automotive Division, Mahindra & Mahindra Ltd., said the company carried forward the momentum from last year with a strong opening month in 2026.
He highlighted the overwhelming response to the XUV7XO and XEV 9S, for which bookings opened on January 14, recording 93,689 bookings worth ₹20,500 crore within just four hours, marking a record milestone for the company.
