M&M unit sells 3.58% stake in CIE Automotive for 119 million euros; shares end in the green

M&M, in its regulatory filing on Thursday, said that Mahindra Overseas Investment Company (Mauritius) Limited (MOICML), a wholly owned subsidiary of the company, has sold part of its stake, representing 3.58% of CIE Automotive S.A. (CIE Spain) outstanding shares, for a total consideration of approx. 119 million Euros.

CIE Automotive S.A. is an associate of MOICML.

Mahindra & Mahindra: Recent updates

Mahindra & Mahindra on Monday, December 1, said its total sales increased 19% year-on-year to 92,670 units in November 2025.

In the passenger vehicle segment, the company sold 56,336 vehicles in the domestic market, a growth of 22% over 46,222 units in the year-ago period, Mahindra & Mahindra (M&M) said in a statement.

The domestic sales for commercial vehicles stood at 24,843, a growth of 17% year-on-year, it added.

Mahindra & Mahindra's Farm Equipment Business reported sales of 42,273 tractors last month in the domestic market, as compared to 31,746 units in November 2024, a growth of 33%.

Total tractor sales last month stood at 44,048 units, as against 33,378 units for the same period last year.

Tractor exports for the month stood at 1,775 units, as compared to 1,632 units in November 2024.

M&M focuses on SUV & EV growth strategy

Mahindra & Mahindra plans to stick to its strategy of offering premium and differentiated vehicles, comprising internal combustion engine-powered SUVs and electric vehicles, in order to further strengthen its presence in the domestic passenger vehicle segment, according to a top company executive.

The Mumbai-based auto major has no immediate plans to introduce CNG and other alternate fuel technologies in its product range, as it wants to stick to its core brand identity and cater to a customer base that seeks differentiated products.

"Our focus has been ICE and electric, and we are growing fairly well in these areas. In our personal vehicle portfolio, the customers want to have differentiated products; they do not want to be in the mass market," Mahindra & Mahindra President – Automotive Business R. Velusamy told PTI in a recent interaction.

M&M EV sales target 7,000 units/month

Mahindra & Mahindra plans to sell around 7,000 electric vehicle units by the end of this fiscal year, a top executive said in late November 2025.

The Mumbai-based automaker currently sells between 4,000 and 5,000 electric vehicles per month.

The company, which on Thursday expanded its electric vehicle portfolio with the launch of a seven-seater model XEV 9S, aims for the electric range to account for around 25% of its overall volumes by the 2027-2028 calendar years.