M&M Share Price Today: Mahindra & Mahindra (M&M) shares came under pressure on Thursday, falling as much as 3.52% to hit a fresh 52-week low of Rs 2,843.65 per share on the BSE, after the company reported its September 2026 sales numbers.
The pressure on the stock came despite a 15% year-on-year (YoY) growth in overall auto sales, as tractor sales fell short of market expectations.
At 9:48 am, M&M shares were trading 2.31% lower at Rs 2,879.30 per share. In comparison, the BSE Sensex was down 0.12% at 72,402.
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M&M September 2026 Auto Sales
Mahindra & Mahindra reported total auto sales of 1,14,874 units in September 2026, registering a 15% YoY growth.
ALSO READ: Track September Auto Sales Live Updates Here
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.
M&M said the relatively lower growth in auto sales was partly due to a high base following the GST cut in 2025.
M&M Passenger Vehicle Sales
M&M's domestic utility vehicle sales stood at 64,092 units in September, up 14% YoY from 56,233 units in September 2025.
For the April-September period, utility vehicle sales stood at 3,58,142 units, compared with 2,97,570 units a year earlier, marking a 20% increase.
The company also said it has crossed the milestone of 1 lakh billing of its Electric Origin SUVs since launch.
Dr Velusamy R, President, Automotive Business, Mahindra & Mahindra, said, “In September, SUV sales clocked 64,092 units with a growth of 14%, and total vehicle sales stood at 1,14,874, a 15% YoY growth.”
M&M Commercial Vehicle Sales
M&M's domestic commercial vehicle sales rose 14% YoY to 30,420 units in September 2026.
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, compared with 53,578 units in the corresponding period last year.
M&M Tractor Sales Miss Estimates
The key disappointment in the September sales numbers came from the tractor business.
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.
The significant miss against expectations in tractor sales adds to the pressure on M&M shares despite the strong performance in the company's automotive business.
M&M September 2026 Exports
M&M's total auto exports stood at 4,019 units in September 2026, down 7% YoY from 4,320 units.
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.
Why Are M&M Shares Falling Today?
The steeper-than-expected decline in tractor sales appears to be the key pressure point in the September sales update. M&M's total tractor sales of 52,100 units were below the 57,433-unit estimate, with the 21% YoY decline also sharper than the expected 13% decline.
This came despite a relatively strong automotive performance, with total auto sales rising 15% YoY and domestic utility vehicle sales increasing 14%.
The company also flagged the impact of a high base created by the GST cut in 2025 on September auto sales growth.
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