Highest number of bookings are for Mahindra Scorpio/Scorpio N, followed by Thar, XUV700, Bolero and XUV300/XUV400
With their sporty design, robust performance and proven safety credentials, Mahindra SUVs continue to be in demand. Even with long waiting periods, bookings continue to pour in unabated. The trend is expected to continue, as Mahindra has even more compelling products in the pipeline. It includes Thar EV, Scorpio N pickup and its born-electric SUV range based on INGLO platform.
Mahindra SUV bookings at an all-time high
Mahindra is currently sitting on a huge pile of orders. There’s a backlog of a staggering 2.86 lakh orders. But this is not surprising, as the booking numbers have remained above the 2.5 lakh mark for several months now. It appears that the order backlog is increasing every month. This is happening even when Mahindra has taken steps to boost production.
Another positive aspect is that most of the customers have shown a high level of loyalty for the brand. Data reveals that cancellation rate is in single digits at 8 percent. The loyalty factor is important, as it gives the company the confidence to boost investments for increasing production. Mahindra has already ramped up production of most of its bestsellers such as Scorpio N, Thar and XUV700. Production is being increased in a phased manner, with a yearly incremental approach, based on requirement.
Bookings for Mahindra SUVs are currently the highest for Scorpio Classic/Scorpio N at 1.19 lakh units. Next is Thar, with an order backlog of 76,000 units. XUV700 has bookings of 70,000 units. Other SUVs are relatively easily accessible. Bolero has 11,000 bookings whereas XUV300 and XUV400 combined have a backlog of 10,000 bookings. Mahindra is actively pursuing all possibilities to reduce waiting period and deliver more cars in the future.
Mahindra confident of maintaining revenue leadership in SUV segment
This festive season has been exceptionally rewarding for OEMs. Mahindra had recorded its highest ever SUV sales in October 2023 at 43,708 units. Total volumes, which includes CV sales, were also the highest at 80,679 units. Over the last few months, Mahindra has averaged monthly SUV bookings of 51,000 units.
SUV sales between the period from July and September 2023 were at 1,14,742 units. This is more than double of the sales that Mahindra used to generate a couple of years ago. By end of September, Mahindra’s share in SUV segment was at 19.9 percent.
It is noteworthy that Mahindra has maintained its position as the second-best SUV manufacturer in India for five consecutive quarters. Moreover, Mahindra tops the list in terms of revenue. The company is confident that it will maintain this lead in the coming years.
Mahindra’s growth story will continue, as several updated and new products are under development. It includes the facelift versions of XUV300 and XUV400 and 5-door Thar. Mahindra has also showcased Thar Electric and Scorpio N pickup. Also in the coming soon list is Mahindra XUV.e and BE electric SUVs.