Mahindra Posts Strong January 2026 Sales Across SUVs, CVs And Tractors

Mahindra & Mahindra Ltd reported a strong start to CY2026, with healthy growth across its automotive and farm equipment businesses in January 2026. The company registered robust gains in utility vehicles, commercial vehicles and tractors, supported by sustained demand in urban and rural markets.

Mahindra Auto Sales – January 2026

In the automotive segment, Mahindra & Mahindra Ltd sold a total of 104,309 vehicles in January 2026, including exports, marking a 24% year-on-year growth. Domestic utility vehicle sales stood at 63,510 units, up 25% YoY, underlining Mahindra’s continued strength in the SUV space.

Commercial vehicle demand also remained healthy. Domestic CV sales were reported at 27,656 units, registering a 22% YoY growth. Growth was largely driven by the LCV segment, reflecting steady demand from logistics, infrastructure and last-mile mobility operators.

Mahindra began the calendar year on a strong note, aided by sustained interest in its SUV portfolio. The company also highlighted strong consumer response to its new product pipeline, with bookings for upcoming models drawing significant traction.

Passenger Vehicles And Commercial Vehicles Performance

Domestic passenger vehicle sales in January 2026 stood at 63,510 units, compared to 50,659 units in January 2025, translating to a 25% YoY increase. On a cumulative basis for the financial year till January, PV sales rose 19% YoY, highlighting consistent demand momentum. With the launch of new XUV 7XO and XEV 9s, Mahindra is expecting strong growth in coming months.

According to Nalinikanth Gollagunta, CEO, Automotive Division, M&M Ltd., “On 14th January, we opened bookings for XUV7XO and XEV 9S clocking 93,689 bookings for a booking value of Rs. 20,500 Crore – a record-breaking milestone in just 4 hours.”

In the commercial vehicle segment, light commercial vehicles continued to lead growth. LCVs in the 2T–3.5T category posted a 23% YoY increase in January, while sub-2T LCVs grew 13% YoY. Three-wheeler sales, including electric variants, also saw a 28% YoY rise, both on a monthly and YTD basis.

Tractor Sales – Strong Rural Momentum

Mahindra’s Farm Equipment Business delivered a standout performance in January 2026. Domestic tractor sales stood at 38,484 units, up from 26,305 units in January 2025, recording a 46% YoY growth. Total tractor sales, including exports, were reported at 40,643 units, compared to 27,557 units last year, marking a 47% YoY increase. Export volumes rose sharply to 2,159 units, a 72% YoY growth, reflecting improving demand in international markets.

On a cumulative basis till January, tractor sales stood at 4,47,235 units, up 23% YoY, supported by favourable agricultural conditions, strong Rabi sowing, and expectations of higher rural spending.

Outlook

Mahindra’s January 2026 performance highlights balanced growth across urban mobility, commercial transport and agriculture-linked segments. Strong SUV demand, improving CV volumes and a sharp rebound in tractor sales position the company well as it enters the new year, with rural sentiment and infrastructure-led demand likely to remain key growth drivers in the months ahead.