But for the buyer, a 15% lift in September sales means the brand is carving out a stronger foothold in a crowded SUV market.
And the SUV segment alone saw 64,092 units sold, up 14% from last year, and Mahindra crossed 100,000 Electric Origin SUV billings, a milestone that boosts its EV credibility against rivals like the Tata Harrier and MG Hector.
In the LCV space, 30,420 units moved, a 14% jump, with the Bolero Maxx PUP HD 1.9 and HD 2.0 driving the growth. The segment sits directly next to Tata Ace and the newer Mahindra Sumo variants, offering buyers a blend of payload and price that keeps the competition tight.
Exports dipped 7% to 4,019 units, a drop that mirrors the broader global slowdown, yet year‑to‑date exports still up 48%. The GST cut on electric vehicles earlier this year helped lift domestic orders, but the export slump leaves buyers wondering if foreign demand will rebound before the next fiscal quarter.
Trucks and buses posted a 53% surge, while tractors fell 23% due to the festive season, showing the mixed impact of policy changes. For commercial buyers, the rise in cargo vehicles signals robust demand, whereas the tractor dip underscores seasonal pricing pressures in the farm‑equipment market.