Mahindra reported a total of 75,901 vehicle sales in August 2025, maintaining steady performance compared to the previous year when exports are factored in. While the overall numbers appear flat, the story unfolds differently across segments, with utility vehicles facing domestic challenges, and commercial vehicles, three-wheelers, and exports delivering robust results. Strategic adjustments and a promising festive season outlook set the stage for potential growth.
Utility Vehicles: Domestic Dip, Retail Resilience
In the utility vehicle (UV) segment, Mahindra sold 39,399 units domestically in August 2025, reflecting a 9% decline compared to the same period in 2024. Including exports, UV sales reached 40,846 units. The company intentionally reduced wholesale dispatches to manage dealer inventory levels in anticipation of potential GST reforms. Despite the drop in wholesale numbers, retail demand for Mahindraโs SUVs remained strong, with Vahan registrations growing by 7.4% year-on-year. For the April-to-August period of FY26, UV sales totaled 209,148 units, down 15% from 241,337 units in the same period of FY25, highlighting ongoing domestic market challenges.
Commercial Vehicles: A Mixed but Promising Picture
Mahindraโs commercial vehicle (CV) segment showed varied performance. Domestic sales of commercial vehicles reached 22,427 units in August 2025. Notably, the light commercial vehicle (LCV) category under 7.5 tonnes saw a healthy 16% increase in registrations, signaling strong demand. Within the LCV segment, vehicles under 2 tonnes experienced a slight 1% dip, with 2,925 units sold, while the 2โ3.5-tonne range performed strongly, growing 13% to 19,502 units. These figures underscore Mahindraโs ability to capture demand in key commercial vehicle categories.
Three-Wheelers: A Bright Spot
The three-wheeler segment, including electric models, emerged as a standout for Mahindra in August 2025. Sales reached 10,527 units, a solid 13% increase from the previous year. For the April-to-August period, three-wheeler volumes soared to 40,561 units, marking a remarkable 33% rise compared to 30,570 units in FY25. This growth highlights Mahindraโs strength in this niche but growing segment, driven by both traditional and electric offerings.
Exports: A Key Growth Driver
Mahindraโs export performance provided a significant boost, with 3,548 units shipped in August 2025, up 16% from the previous year. For the April-to-August period, exports climbed to 15,989 units, a substantial 37% increase over the 11,700 units recorded in FY25. This strong overseas demand helped offset domestic weaknesses, reinforcing Mahindraโs growing presence in international markets.
Also Read –Bajaj Auto Sees Robust Growth in August 2025 with 4.17 Lakh Units Sold
Strategic Moves and Future Outlook
While domestic utility vehicle sales faced headwinds, Mahindraโs commercial vehicles, three-wheelers, and exports provided a solid foundation for overall performance. The companyโs decision to moderate wholesale volumes reflects a strategic approach to inventory management ahead of expected GST rationalization. Looking forward, Mahindra is optimistic about the festive season, which could spark renewed domestic demand. Additionally, the recent Freedom_NU event showcased four innovative concepts and a new platform, set to enter production in the coming years, signaling Mahindraโs commitment to future growth and innovation.
