Mahindra & Mahindra (M&M) shares extended their decline for a second consecutive session, trading near the 52-week low zone on Thursday. At 30 September 2026, the stock was last traded at ₹2,951.1 versus the previous close of ₹2,951, showing a minimal rise of 0%. The stock opened at ₹2,929.75 and touched a high of ₹2,985 before reaching a low of ₹2,929.3. This continued weakness follows the stock's earlier fall of 4% to hit a fresh 52-week low of ₹2,843.70 on the NSE, as reported by The Economic Times. The Mahindra & Mahindra 52 Week Low Streak indicates persistent price pressure rather than a single-session correction, with the stock remaining in the near-low zone across back-to-back sessions.
Mahindra & Mahindra reported total auto sales of 1,14,874 units in September 2026, registering a 15% year-on-year growth, as reported by NDTV Profit. The company's domestic passenger vehicle sales remained strong, with utility vehicle sales rising 14% YoY to 64,092 units in September, compared with 56,233 units in the year-ago period. The September 2026 PV sales figure was also slightly ahead of the 63,333-unit estimate. The relatively lower growth in auto sales was partly attributed to a high base following the GST cut in 2025.
M&M's domestic commercial vehicle sales rose 14% YoY to 30,420 units in September 2026, according to NDTV Profit reports. The company's light commercial vehicle (LCV) sales below 2 tonnes increased 19% to 4,044 units, while sales in the 2-tonne to 3.5-tonne category rose 13% to 26,376 units. Three-wheeler sales, including electric three-wheelers, jumped 26% YoY to 16,343 units in September. For the first six months of FY27, three-wheeler sales increased 53% to 82,058 units.
The key disappointment in the September sales numbers came from the tractor business, as reported by NDTV Profit. M&M reported total tractor sales of 52,100 units in September 2026, down 21% YoY and below the market estimate of 57,433 units. The decline was also steeper than the 13% fall expected by the market. Domestic tractor sales declined 23% YoY to 50,208 units, while tractor exports increased 62% YoY to 1,892 units. This significant miss against expectations in tractor sales added to the pressure on M&M shares despite strong performance in the automotive business.
M&M's total auto exports stood at 4,019 units in September 2026, down 7% YoY from 4,320 units, according to NDTV Profit. However, on a year-to-date basis, total exports stood at 30,031 units, up 48% from 20,303 units during the same period last year. The company also crossed the milestone of 1 lakh billing of its Electric Origin SUVs since launch, as reported by Dr Velusamy R, President, Automotive Business, Mahindra & Mahindra. This achievement demonstrates the growing adoption of electric vehicles in the Indian market.
