FY 23-24 March Sale Numbers for Commercial Vehicles: Mahindra & Escorts Kubota

FY 23-24 has finally come to an end with the last day of March and here are the sales numbers of 2 leading OEMs in the commercial vehicles industry, Mahindra & Mahindra and Escorts Kubota Ltd. 

Mahindra & Mahindra: Trucks, Buses, 3 Wheelers, Tractors

Mahindra and Mahindra commercial vehicles sales fell by 6.32% in March FY24 compared to March FY 23. Sales of commercial vehicles with GVW in the range 2 T – 3.5 T fell by 22% followed by Mahindra 3 Wheelers (Includes Mahindra Last Mile Mobility and Electric vehicles) with 7%. 

3.5 T GVW + MHCV category commercial vehicles under Mahindra Trucks and Buses saw the maximum growth in sales numbers with 126% increase in March FY 24 compared to March FY 23. 

However the YTD March 24 figures show a positive growth of 33% for the 3 wheeler segment in comparison to YTD Feb 23. 

The company sold 26,209 commercial vehicle units in March FY 24 including 3 Wheelers and YTD March 24 units stands at 3,40,399. 

Mahindra & Mahindra tractor division sales on March FY 24 fell by 26% with domestic sales declining by 28% YoY. However the exports saw a growth of 25.60% in March FY 24 when compared to March FY 23. Total sales figures in units stood at 26,024 for March FY24 that includes domestic + exports. 

Escorts Kubota: Tractors

Escorts Kubota Limited formerly Escorts Limited also saw a fall in tractor sales in March FY24. The sales fell by 16.60%, domestic + exports combined in March FY 24 compared to March FY 23 and domestic sales saw a decline by 16.1% with exports taking a hit by 24.30%. Total sales figures in units stood at 8,587 for March FY24 that includes domestic + exports.