Mahindra has seen outstanding demand for its utility vehicle lineup which will now be boosted even further with the launch of the new XUV3XO. It was the company’s SUV range that included the Scorpio N, Scorpio Classic, Thar, XUV700, XUV300, XUV400, Bolero and Bolero Neo that commanded all the attention in April 2024.
Mahindra sold a total of 41,008 units of SUVs in April 2024 relating to an 18% YoY growth while its total volumes (which also included CVs) saw 70,471 units sold in the past month, a 13% YoY growth.
Mahindra’s UV portfolio has seen a total of 41,008 units sold in the past month in domestic markets. This was an 18% growth from 34,694 units sold in April 2023. It was also a MoM improvement when compared to 40,631 units sold in March 2024. Exports of the company have also improved marginally by 2% in April 2024 to 1,857 units, up from 1,813 units sold in April 2023.
The new XUV3XO has entered this segment with a bang. It is set to disrupt the sub-compact SUV space with its several segment first features (including Level 2 ADAS and panoramic sunroof), advanced safety equipment and affordable pricing. The XUV3XO is priced from Rs 7.49 lakh (ex-showroom) and will compete against the Tata Nexon, Maruti Brezza, Hyundai Venue, Kia Sonet, Nissan Magnite and Renault Kiger in its segment.
Along with being a leader in the UV segment, Mahindra is also a leading commercial vehicle manufacturer in India, more specifically in the LCV segment. It is seen as a strong competitor to the likes of Tata Motors, Ashok Leyland and Eicher.
In this commercial vehicle segment, Mahindra has seen growth across the 3.5T and MHCV segment that improved by 74% YoY to 3,038 units in April 2024 from just 1,743 units sold in April 2023. Three wheeler sales, that also included the electric models, has seen sales dip by 1% YoY to 5,504 units in April 2024 from 5,552 units sold in April 2023.
Talking about Mahindra’s Farm Equipment Sector, the company has reported domestic sales at 35,805 units in April 2024, a 1% YoY growth from 35,398 units sold in April 2023. Exports on the other hand have seen 1,234 units exported in the past month, a massive 23% growth from 1,007 units shipped in April 2023. This took total tractor sales (Domestic + Exports) to 37,039 units, as against 36,405 units sold during the same period last year relating to a 2% YoY improvement.
This post was last modified on May 2, 2024 6:57 pm