Mahindra passenger vehicle sales grew by 54 percent in April 2023 while Farm Equipment sales dipped by 11 percent
Mahindra has released their sales figures both for its passenger and commercial vehicle segments for April 2023. Growth can be seen on all counts. Passenger vehicle sales improved by 54 percent YoY to 34,698 units sold in April 2023, up from 22,526 units sold in April 2022. Across the portfolio, sales stood at 62,294 units relating to a 36 percent YoY growth.
Mahindra, like every other automaker in India continued to face constraints in supply of semiconductors. Though this shortage is not as severe as it was in the past two years, it has still had an adverse effect on production which in turn has led to longer waiting periods of certain models. The longest waiting periods have been seen for the Scorpio N and XUV700.
Passenger Vehicle Sales April 2023
Sales in the utility vehicle segment in the past month surged by 54 percent to a total of 34,698 units from 22,526 units sold in April 2022. Among these sales were 34,694 units of utility vehicles which was a 57 percent YoY growth over 22,168 units sold in April 2022. Sales of cars and vans however dropped significantly YoY to just 4 units in the past month from 358 units sold in April 2022.
In the commercial vehicle segment, LCV 3.5T and MHCV sales improved by an even higher percentage of 63 percent to 1,150 units in April 2023 from 705 units sold in April 2022. At the end of April 2023, Mahindra launched the Bolero Maxx Pik-Up in the 3.5-ton LCV segment. It is priced between Rs 7.85 – Rs 10.33 lakh (ex-showroom) and comes in with iMAXX connected solution with over 50 features and promises a 2,000 kg payload capacity.
Mahindra 3W sales on the other hand saw an 85 percent YoY growth to 5,552 units in April 2023 from 3,009 units sold in April 2022. This figure also included electric three wheeler sales. Overall exports dipped by 33 percent to 1,813 units in the past month from 2,703 units sold in April 2022.
Mahindra Tractor Sales April 2023
Mahindra has reported an 11 percent decline in tractor sales. Extensive buying during the month of March 2023 on account of two very important festivals of Navratri and Gudi Padwa coupled with unforeseen monsoons in the past month, led to this de-growth. However, with higher reservoir levels aiding in timely growth of Kharif crops could stir up sales in the months ahead.
Mahindra’s Farm Equipment Sector sold a total of 36,405 tractors in April 2023. This was an 11 percent YoY de-growth over 40,939 units sold in April 2022. Sales in domestic markets fell by 10 percent YoY to 35398 units in the past month from 39405 units sold in April 2022. Exports suffered an even higher percentage decline by 34 percent to 1,007 units in April 2023 from 1,534 units shipped in April 2022.
Mahindra Tractors introduced the all new Oja, a lightweight global tractor platform, which will spawn 40 models across 4 sub-platforms from 20hp to 70 hp. Production is set to commence over the next 3 fiscals starting this year.