With time, Mahindra has axed everything other than SUVs in its portfolio and is expanding its EV lineup with the launch of BE 6 and XEV 9e
Among the leading SUV and CV manufacturers of India, Mahindra Auto, closed the accounts for the month of December 2024 in style. Mahindra registered YoY growth across PVs and CVs. While there was a 10.38% MoM decline in PV sales when compared to 46,222 units from November 2024, it is a common trend observed at the end of a calendar year.
Mahindra Sales December 2024
Where SUVs are concerned, Mahindra Auto seems to be in the dominant position, especially in the mid-size segment. Vehicles like the Thar Roxx, Scorpio and XUV700 are showing no signs of a drop in popularity. The company’s PV sales stood at an impressive 41,424 units in total with 18% YoY growth over 35,174 units sold last year.
This yielded a volume growth of 6,253 units for the brand YoY. YTD, Mahindra managed to sell 4,02,360 units with a 21% YoY growth. Breaking up this number, we arrive at the fact that Mahindra sold 0 units of Cars and Vans in December 2024 and YTD.
That’s actually a good thing for the brand as the company has completely shifted to SUVs that form 100% of its PV sales in domestic market. Previously, Mahindra used to sell unpopular and slow-selling products like KUV100 crossover and Marazzo MPV. Also, Mahindra had some stock of eVerito, which seems to be sold out now.
Commercial Vehicle Sales
In December 2024, Mahindra’s commercial vehicle sales thrived as well, registering YoY growth. In total, Mahindra sold 25,252 commercial vehicles in India last month. LCV < 2T is not the company’s forte and we can see dropping sales figures with 2,409 units sold last month and saw 15% decline in sales as opposed to 2,849 units sold last year.
YTD, this class of trucks showed a drop in sales by 10% with 28,634 units as opposed to 31,896 units sold last year. LCV > 3.5T + MHCV segment of trucks is also not Mahindra’s strength as suggested by numbers. With just 954 of these trucks sold last month with 12% decline in sales as opposed to 1,081 units sold a year ago.
Mahindra’s 3W portfolio is registering consistent sales with 5,750 units sold in Dec 2024 with an 8% YoY growth. Where Mahindra absolutely shines with market domination is in LCVs > 2T – 3.5T. The numbers in this class of trucks are astounding at 16,139 units with an impressive 16% growth YoY. Even in YTD, 1,59,738 units with 4% YoY growth is impressive.
Exports
Another area where Mahindra is making significant advancements is exports. Mahindra’s total exports stood at 3,092 units last month. Exports grew by 70% YoY as opposed to 1819 units shipped last year. YTD, there was 22% growth with 24,101 units shipped last month. Analysing Mahindra’s sales performance in Q4 2024, there were 1,42,150 PVs sold by Mahindra with an impressive 19.59% YoY growth.
