In the Utility Vehicles segment, Mahindra sold 58,021 vehicles in the domestic market, a growth of 11% on YoY basis. The domestic sales for Commercial Vehicles stood at 24,079, up 19% YoY.
Total exports increased by 37% to 5,000 units in May 2026 from 3,646 units in May 2025.
Nalinikanth Gollagunta, CEO, Automotive Division, M&M, said: “The sustained demand across our portfolio continues, constrained by supply chain challenges due to manpower shortages at select suppliers.”
M&M’s Farm Equipment Business (FEB) has recorded domestic sales of 47,845 units in May 2026 as against 38,914 units in May 2025, reflecting a 23% year-on-year growth. Exports for the month stood at 1,850 units, up 7% YoY.
Total tractor sales (domestic + exports) during May 2026 were at 49,695 units as against 40,643 units for the same period last year, up 22% YoY.
Veejay Nakra, president, Farm Equipment Business, Mahindra & Mahindra, said: “This high growth was driven by timely completion of Rabi harvesting & favorable terms of trade for farmers.”
The Trucks and Buses (CV > 3.5T) business of Mahindra & Mahindra has reported total sales of 3,129 vehicles for May 2026, which is a YoY growth of 18%.
Of this, Cargo Vehicle sales added up to 1,153 units (up 0.4% YoY) and that of Passenger Vehicles was 1,976 units (up 32% YoY).
Mahindra’s Trucks & Buses business comprises of Mahindra Trucks & Buses division (MTBD) and SML Mahindra (SML).
Vinod Sahay, executive chairman – SML, president – Aerospace, Advanced Technologies, Trucks, Buses & CE, M&M, said: “The CV industry continues to face near-term headwinds, driven by elevated input costs and higher diesel prices amid ongoing geopolitical uncertainties, putting pressure on fleet operators’ profitability.
The industry is showing signs of short to medium term moderation even though structural drivers such as infrastructure spending and replacement demand remain supportive for long term growth. We maintain an overall cautious outlook as cost pressures and macroeconomic uncertainties continue to weigh on industry sentiments currently.”
M&M Group enjoys a leadership position in farm equipment, utility vehicles, information technology, and financial services in India. It is the world's largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.
The company's standalone net profit jumped 53.34% to Rs 3,737.27 crore in Q4 FY26 as against Rs 2,437.14 crore reported in Q4 FY25. Total income increased by 25.29% year on year to Rs 40,244.81 crore in the quarter ended 31 March 2026.
The scrip fell 1.08% to currently trade at Rs 3002.15 on the BSE.
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