Mahindra had a lot to be proud of in the month of March 2023. The company sales were at their highest ever at 35,976 units in the past month, a growth of 32 percent YoY. Mahindra also clocked highest ever annual sales of its SUVs at 3,56,961 units, a growth of 60 percent. The 4th best-selling automaker in India after Maruti Suzuki, Hyundai and Tata Motors, Mahindra sales increased YoY and MoM in March 2023.
March sales stood at 35,976 units, up 32 percent from 27,345 units sold in March 2022. MoM sales grew 19 percent over 30,221 units sold in Feb 2023. Mahindra Bolero was the best-selling model in the company lineup last month.
Sales improved 38 percent YoY to 9,546 units in March 2023, up from 6,9,24 units sold in March 2022. It was a 2 percent MoM de-growth from 9,782 units sold in Feb 2022. Earlier this year the company launched the Bolero Neo Limited Edition at Rs 11.50 lakh (ex-showroom). Scorpio SUV sales increased YoY and MoM by 45 percent and 26 percent respectively to 8,788 units in March 2023 from 6,061 units and 6,950 units sold in March 2022 and Feb 2023.
It was followed at No. 3 by the Mahindra XUV300. Sales scaled to 5,128 units in the past month, up 24 percent YoY from 4,140 units sold in March 2022 while MoM sales were also higher by 35 percent from 3,809 units sold in Feb 2022. The XUV300 also featured at No. 5 on the sub 4-meter SUV sales list last month with an 8.60 percent share.
XUV700 sales dipped 15 percent YoY but improved 13 percent MoM to 5,107 units. Mahindra has recently hiked prices of the XUV700 from 1st April 2023. This price hike is on account of compliance to BS6 phase II emission standard, RDE norms and E20 compliance.
Sales of Mahindra Thar improved 29 percent YoY to 5,008 units in March 2023 up from 3,893 units sold in March 2022. MoM sales remained flat with 5,004 units sold in Feb 2023. With the Jimny 5-door moving into company Nexa showrooms, Mahindra is actively testing the Thar 5-door (its arch competitor) ahead of launch in the country.
XUV400 sales were at 1,909 units last month. This electric SUV was launched in India in January 2023 at prices starting from Rs 15.99 lakh (ex-showroom). Deliveries commenced from March 2023.
Mahindra Marazzo also received much attention from buyers in India in March 2023 with 490 units sold in the said month, up 76 percent YoY from 279 units sold in March 2022 and up 187 percent MoM from 171 units sold in Feb 2023. The company had also seen sales of 6 and 2 units respectively for the e-Verito and KUV100 in March 2022 but these two models have been discontinued since.