M&M Reports Strong January 2026 Sales of 104,309 Units with 24% YoY Growth
Mahindra & Mahindra delivered strong January 2026 performance across all business segments with total vehicle sales of 104,309 units, marking 24% year-over-year growth. The automotive division achieved 25% SUV growth with 63,510 units sold domestically, while the farm equipment business excelled with 46% tractor sales growth reaching 38,484 units. The trucks & buses division contributed 3,065 vehicles with 40% growth, demonstrating the company's robust market positioning and operational strength across diverse automotive segments.
*this image is generated using AI for illustrative purposes only.
Mahindra & Mahindra has delivered exceptional January 2026 performance, reporting total vehicle sales of 104,309 units, marking a robust 24% year-over-year growth. The automotive and farm equipment manufacturer demonstrated strong momentum across all business segments, with particularly impressive performance in SUVs and tractors.
Automotive Division Performance
The company's automotive division achieved significant milestones in January 2026. SUV sales reached 63,510 units in the domestic market, representing a strong 25% growth compared to the previous year. Commercial vehicle sales also performed well, with LCV sales under 3.5T reaching 27,656 units, a growth of 22%.
| Vehicle Category: | January 2026 | January 2025 | YoY Growth |
|---|---|---|---|
| Total Vehicle Sales: | 104,309 | - | 24% |
| SUVs (Domestic): | 63,510 | 50,659 | 25% |
| LCV < 2T: | 4,009 | 3,541 | 13% |
| LCV 2T-3.5T: | 23,647 | 19,209 | 23% |
| 3 Wheelers: | 9,566 | 7,452 | 28% |
| Exports: | 3,577 | 3,404 | 5% |
According to NaliniKanth Gollagunta, CEO, Automotive Division, M&M Ltd., the company began the year on a strong note by achieving SUV sales of 63,510 units and LCV sales of 27,656 units. A significant highlight was the opening of bookings for XUV7XO and XEV 9S on January 14th, which clocked 93,689 bookings worth Rs. 20,500 crore in just 4 hours.
Farm Equipment Business Excellence
The Farm Equipment Business delivered outstanding results with domestic tractor sales of 38,484 units, reflecting a remarkable 46% year-over-year growth. Total tractor sales including exports reached 40,643 units, compared to 27,557 units in the previous year. Export performance was particularly strong with 2,159 units sold, representing 72% growth.
| Farm Equipment Metrics: | January 2026 | January 2025 | YoY Growth |
|---|---|---|---|
| Domestic Tractor Sales: | 38,484 | 26,305 | 46% |
| Export Sales: | 2,159 | 1,252 | 72% |
| Total Tractor Sales: | 40,643 | 27,557 | 47% |
Veejay Nakra, President – Farm Equipment Business, attributed the robust growth to high reservoir levels supporting record Rabi sowing and expectations of government support in rural development.
Trucks & Buses Division Growth
The Trucks & Buses business, comprising Mahindra Trucks & Buses division and SML Mahindra Limited, sold 3,065 vehicles in January 2026, achieving 40% year-over-year growth. Cargo vehicles led the performance with 1,642 units sold, showing 49% growth, while passenger vehicles reached 1,423 units with 30% growth.
| Trucks & Buses Performance: | January 2026 | January 2025 | YoY Growth |
|---|---|---|---|
| Total Sales: | 3,065 | 2,192 | 40% |
| Cargo Vehicles: | 1,642 | 1,101 | 49% |
| Passenger Vehicles: | 1,423 | 1,091 | 30% |
Vinod Sahay, Executive Chairman – SML, President – Aerospace, Defence, Trucks, Buses & CE, highlighted that demand trends across the Indian commercial vehicle industry remained healthy, supported by infrastructure spending, replacement demand, and strong rural activity.
Historical Stock Returns for Amara Raja Energy & Mobility
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.09% | +1.84% | +0.32% | -13.28% | -18.04% | -5.29% |
17
