Chandigarh: SML Mahindra Limited on Thursday reported a significant jump in its domestic sales for the final month of 2025, even as production levels moderated. The company, which specializes in trucks and buses, continues to navigate a shifting commercial vehicle market with a clear focus on domestic liquidation of inventory.
According to the company’s latest regulatory filing, the sales performance was a major highlight, nearly doubling from the previous year’s figures.
Domestic Sales: The company sold 1,019 units in December 2025, compared to 576 units in December 2024.
Production: In contrast, production saw a downward adjustment to 1,046 units, down from 1,455 units in the year-ago period.
Exports: The export segment remained under pressure, with only 25 units shipped out, exactly half of the 50 units exported in December 2024.
Industry analysts suggest that the high sales-to-production ratio in December indicates a strategic push by SML Mahindra to clear year-end inventory and capitalize on infrastructure-led demand in the domestic market. The company, formerly known as SML Isuzu, has been repositioning itself under the SML Mahindra brand to leverage a wider distribution network.
While the production dip might be attributed to planned maintenance or inventory management, the robust sales growth is expected to be viewed positively by investors. However, the halving of export volumes remains a point of concern for those looking at the company’s global footprint.