Mahindra, the 4th best-selling automaker in India in Nov 2024 with a market share of 13.1% has seen momentum continue across its strong SUV portfolio. The company has recorded 46,222 unit sales last month, a 16% year-on-year (YoY) increase over 39,981 units sold in Nov 2023. Month-on-month (MoM) sales however, suffered a 15% setback when compared to 54,504 units sold in Oct 2024, which was the highest ever monthly sales recorded by the company.
Mahindra Scorpio/N once again ruled the sales list last month. It was the only model to surpass sales above the 10,000 unit mark. The Scorpio/N was also among the best-selling cars in India at No. 6, while there were 5 out of the company’s 7 vehicle lineup to feature on this list. It had 12,704 units sold last month. This was a 4% YoY increase from 12,185 units sold in Nov 2023. However, sales declined by 19% on a MoM basis from 15,677 units sold in Oct 2024.
Another significant contributor to the company’s success is the XUV700. Sales were up 26% YoY to 9,100 units in Nov 2024, well over 7,221 unit sales of Nov 2023. Demand dipped on a MoM basis by 13% from 10,435 units sold in Oct 2024. Mahindra’s latest SUV, the Thar Roxx has witnessed outstanding demand. Sales improved by a massive 50% on a YoY basis to 8,708 units, up from 5,810 units sold in Nov 2023. MoM sales also shot up by 10% from 7,944 unit sales of Oct 2024. This made the Roxx the only model in the company portfolio to show off both YoY and MoM increase in sales.
Another of the company’s SUVs to see improved YoY demand was the XUV300/3XO. Sales were up 64% to 7,656 units in the past month from 4,673 units sold in the same month last year. It however, suffered a 20% MoM decline over 9,562 units sold in Oct 2024.
Mahindra offers the Bolero in three variants of Bolero, Bolero Neo and Bolero Neo Plus. It failed to continue its appeal to buyers in Nov 2024 as sales fell by 25% YoY and 28% on a MoM basis. There were 7,045 units of the Bolero sold last month. Sales had stood at 9,333 units and 9,849 units in Nov 2023 and Oct 2024 respectively.
Lower down the sales list was the XUV400. This all-electric SUV accounted for 1,000 unit sales in Nov 2024 which was a 41% YoY growth from 710 units sold in Nov 2023. Its MoM performance remained flat as there had also been 1,000 units sold in Oct 2024. Mahindra sold just 9 units of the Marazzo in Nov 2024, an 82% YoY decline from 49 units sold in the same month last year. MoM sales also fell heavily by 76% as compared to 37 units sold in Oct 2024.
Mahindra has just announced a price hike effective from Jan 2025. This price increase will be by 3% and will be across both the company’s SUV and commercial vehicle range. Mahindra cites inflation along with rising input costs as reasons for this price hike. Earlier this month, Mahindra has expanded their portfolio to include two electric SUVs – XEV 9e and BE 6. Both these models are expected to boost sales even further from the New Year.