Mahindra recorded its highest ever sales of SUVs in September 2023 at 41,267 units and expects this positive sentiment to continue through the festive season
Mahindra sales in September 2023 has set a record of sorts. The company has seen the highest sales of SUVs for the 3rd consecutive month. In September, Mahindra’s auto sales stood at 41,267 vehicles in the domestic market, which including exports stood at 42,260 units. Commercial vehicle sales stood at 23,997 units while overall auto sales during the past month were at 75,604 units.
Mahindra PV, CV Sales September 2023
Currently, Mahindra’s SUV lineup includes the likes of the XUV300, Bolero, Bolero Neo, Marazzo, XUV400, Thar, Scorpio Classic, Scorpio N, and XUV700. Mahindra auto sales in September 2023 stood at 75,604 units. Taking into account utility vehicles, it was a 20 percent YoY growth to 41,267 units in September 2023 from 34,262 units sold in September 2022.
YTD sales increased by 29 percent to 2,14,904 units from 1,67,052 units sold in the same period last year. Car and van sales dipped 100 percent YoY to 0 units from 246 units sold in September 2022 while sales during the first 6 months of this financial year fell by 99 percent to 10 units in the FY24 period from 1,671 units sold in FY 2023.
In the commercial vehicle segment, Mahindra has seen its LCV <2T sales dip 11 percent YoY to 3,941 units in September 2023 from 4,452 units sold in September 2022. YTD sales also suffered a de-growth of 5 percent to 20,629 units in FY24 from 21,608 units sold in FY23. However, LCV sales in the 2T-3.5T segment grew by 15 percent YoY and 6 percent YTD to 18,971 units and 1,02,728 units, respectively.
In the LCV space, the Mahindra Bolero Maxx Pickup has reached a milestone of 1 lakh units in September 2023. This feat was achieved in a matter of 16 months which is particularly noteworthy for a vehicle in the light commercial vehicle segment. CV sales in the >3.5T and MHCV segment showed even more outstanding performance with a 42 percent YoY growth to 1,139 units in September 2023 from 801 units sold in September 2022.
Mahindra exports saw de-growth
YTD sales escalated by 52 percent to 6,403 units from 4,208 units sold in FY23. The 3W segment was also worth a mention with a 37 percent YoY growth in sales to 7,921 units in the past month from 5,774 units sold in September 2022 while YTD sales increased by 53 percent to 39,226 units in FY24 from 25,580 units sold in FY23. Exports, on the other hand, suffered a de-growth both on YoY and YTD basis down 5 percent and 9 percent respectively to 2,419 units and 14,316 units.
According to Veejay Nakra, President, Automotive Division, M&M Ltd., “We are excited to achieve our highest ever sale of SUVs for the third consecutive month. This month we saw a growth of 20% with 41,267 vehicles. We also registered an overall growth of 17%.
In September, we also crossed the 1 lakh unit mark for our Bolero Maxx Pik Up trucks, making it the fastest selling pick up in the country to reach that mark. While demand for our key SUV brands continue to be strong, we are keeping a close watch on the availability of semi-conductors and select components to meet the strong festive season demand”.
Mahindra Farm Equipment sales at 42,034 nits in India in September 2023
Farm equipment sales of Mahindra in domestic and export markets during the month of September 2023 fell to 43,210 units, down from 48,713 units sold in September 2022 relating to an 11 percent YoY de-growth. This included domestic sales of 42,034 units down from 47,100 units sold in September 2022 declining 11 percent YoY while exports stood at 1,176 units down from 1,613 units sold in September 2022 down 27 percent.
YTD sales also saw a deep decline of 2 percent in domestic markets to 1,98,724 units while exports slipped 35 percent to 6,346 units in FY24 from 9,744 units shipped in FY23 thus taking total to 2,05,07 units in FY24 down 3 percent from 2,12,049 units sold in FY23. The company expects sales in the Farm Equipment segment to recover significantly with favorable monsoons throughout the country, the Kharif sowing being underway coupled with the oncoming festive season.
