Commercial Vehicle Sales: The commercial vehicle industry in India recorded a 2% year-in-year growth to 4.65 lakh units during April-September 2023 period. This comes on a high base of the first half of last fiscal year when the segment recorded 40% growth owing to the post-pandemic recovery. Going forward, the sector is on a positive growth path as it is supported by economic activity and growth in the manufacturing and infrastructure sector. Among the top CV players in the market, Tata Motors and Mahindra together take up over half of the domestic sales.
The Group has four main business areas and nine other businesses with “high growth potential”. Betting on the two magic mantras of Scale and Synergy, Anand Mahindra said the businesses have to grow 5X in the next 5 to 7 years from where they are today in terms of market cap. Further, he stated that the world is at a stage where China’s political ambitions are being viewed with alarm, and India is seen as an obvious buffer and counterbalance to China. He is confident that as India s economy is growing, so will the Mahindra Group companies.