M&M shares gained nearly 2% after strong May sales numbers, driven by robust SUV and tractor demand.
The deets: Mahindra reported a 17% YoY rise in total vehicle sales for May 2025, selling 84,110 units across domestic and export markets.
SUVs led the charge, with domestic sales jumping 21% YoY to over 52,000 units. Including exports, total SUV sales stood at 54,819 units.
Commercial vehicles were a mixed bag, light CVs rose 14%, but the sub-2 tonne category fell 18%.
Tractor sales were solid, with domestic sales climbing 10% YoY to 38,914 units, lifted by early monsoons and upbeat rural sentiment. Including exports, total tractor sales hit 40,643 units, up from 37,109 last year.
Zoom out: with kharif sowing season approaching, Mahindra expects rural demand to stay strong, supported by higher MSPs, full reservoirs, and continued policy tailwinds. Meanwhile, SUVs remain a hot favourite as Indian buyers gravitate toward bigger, feature-packed rides.
