Mahindra Trucks and Buses Report 9% Sales Decline in August, Total at 1,701 Units

By Amit Jangra | Published Date : September 02, 2025

Mahindra Trucks and Buses saw a 9% sales drop in August 2025 but strong cargo growth hints at a positive outlook ahead.

Mahindra & Mahindra Ltd. (M&M Ltd.) shared its monthly sales report for August 2025 for the Trucks and Buses segment. The total sales, including exports, stood at 1,701 units, showing a 9% drop compared to the same month last year.

This report includes numbers from both the Mahindra Trucks & Buses division (MTBD) and SML Isuzu Limited (SML), which became part of the Mahindra family after M&M acquired a majority stake in the company.

What Caused the Drop in Sales?

Table of Contents

1. What Caused the Drop in Sales?

2. Sales Breakdown: MTBD vs SML

3. Cargo Vehicles Showed Growth

4. Passenger Vehicle Sales Decline

5. Looking Ahead: Outlook for the Coming Months

6. Conclusion

Also Read: Ashok Leyland CFO: GST 2.0 Likely to Drive Commercial Vehicle Demand

According to Vinod Sahay, President – Aerospace, Defence, Trucks & Buses at Mahindra:

“The commercial vehicle (CV) market was affected in August. There was uncertainty around proposed changes in GST, which slowed down both dealer and retail sales. On top of that, heavy rains and flooding in North India also affected demand. However, we hope that the upcoming festive season will boost sales.”

Sales Breakdown: MTBD vs SML

Mahindra now owns a majority share in SML Isuzu, so their sales are counted together.

• MTBD sold 859 units, which is a 3% drop from the same month last year.
• SML sold 842 units, down 15% compared to August 2024.

While both brands saw a decrease in overall numbers, there were some bright spots within the product segments.

Cargo Vehicles Showed Growth

The cargo vehicle segment performed well despite market pressure. A total of 989 cargo vehicles were sold in August, which is a 5% increase year-on-year.

• MTBD sold 668 cargo vehicles, up by 4%
• SML sold 321 cargo vehicles, showing a 6% increase

For many small business owners and delivery operators, Mahindra’s mini trucks and pickups remain a practical and popular choice for cargo transport.

Passenger Vehicle Sales Decline

Even though August didn’t hit expected targets, the bigger picture tells a more encouraging story. From April to August 2025, Mahindra Trucks and Buses recorded total sales of 12,684 units — a 7% increase over the same period last year.

This growth has largely been driven by the cargo segment, where demand has continued to rise steadily. Mahindra sold 5,772 cargo vehicles so far this financial year, compared to 4,788 units during the same timeframe last year — a strong 21% jump.

Looking Ahead: Outlook for the Coming Months

Discussing the recent numbers, Vinod Sahay, President – Trucks and Buses at Mahindra, pointed out that August was challenging for the industry overall. One key factor was the uncertainty around upcoming GST revisions, which affected both dealerships and buyers. Additionally, heavy rainfall and floods in northern India further slowed vehicle demand.

“The CV industry remained under pressure in August. The upcoming festive season should lead to pickup in demand,” said Sahay.
With the festive season approaching, Mahindra is expecting a more active market. Transport needs usually increase around this time due to higher movement of goods, festive stocking by retailers and agricultural output.

More importantly, infrastructure projects and improving rural sentiment could also play a role in boosting sales of Mahindra trucks, mini trucks, buses and pickups in the coming months.

Conclusion

August 2025 brought a dip in total sales for Mahindra’s commercial vehicle segment, with numbers down by 9% compared to last year. But one month doesn’t tell the whole story.
The strong performance in cargo vehicle sales, along with a positive year-to-date trend, shows that Mahindra is on solid footing. With the festive season, rural recovery and better weather on the horizon, there’s a good chance we’ll see a lift in demand.

Read More: Ganesh Mani Named CEO of Switch India, Former Ashok Leyland COO Leads EV Push\

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Frequently Asked Questions on Commercial Vehicles

Why did Mahindra Trucks and Buses sales decline in August 2025?

Ans: Sales dropped due to GST uncertainty and heavy rainfall impacting demand in northern India.

Which segment showed the most growth for Mahindra in 2025?

Ans: The cargo vehicle segment, including mini trucks and pickups, saw a strong 21% year-to-date growth.

What is the outlook for Mahindra’s trucks and buses sales in the coming months?

Ans: The festive season and infrastructure projects are expected to boost demand for Mahindra commercial vehicles soon.

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