Mahindra Utility Vehicles registered an 8 percent YoY growth – Car and van sales dipped 69 percent while farm equipment suffered a 15 percent de-growth
Mahindra has announced its overall sales for November 2021. While growth can be seen across the utility vehicle segment, primarily due to the newly launched Mahindra XUV700, the car and van segment took a nosedive down 69 percent YoY. Across the commercial vehicle segment, that include LCV and MHCV along with 3 wheelers, sales dipped 33 percent YoY while the company’s farm equipment sector suffered a 15 percent YoY de-growth.
Mahindra Sales Nov 2021 – Passenger and Commercial Vehicle Segment
Mahindra has seen its utility vehicle segment surge 8 percent YoY to 19,384 units in November 2021, up from 17,971 units sold in November 2020. It was also a 51 percent YTD growth to 1,31,434 units, up from 86,959 units sold in the same period of 2020. Mahindra states that the Bolero, Scorpio, XUV700 and Thar have been its key models in this segment.
In the car and van segment, sales dipped 69 percent to 74 units last month, from 241 units sold in November 2020. YTD sales however, grew 12 percent to 1,509 units up from 1,350 units sold in the same period of 2020. Total passenger vehicles hence increased 7 percent YoY to 19,458 units while YTD sales surged 51 percent to 1,32,943 units over 88,309 units sold during the April to November 2020 period.
Commercial vehicle sales dipped across the LCV sub 2T and LCV 2T-3.5T segments by 36 percent and 19 percent respectively while growth was reported at 10 percent in the LCV 3.5T and MHCV segments. Sales in the LCV in the sub 2T segment stood at 2,409 units, down from 3,755 units sold in November 2020. YTD sales however increased 4 percent to 18,679 units, up from 17,993 units sold in the same period of 2020.
A 19 percent de-growth was recorded in the LCV 2T-3.5T segment to 12,049 units, down from 14,799 units sold in November 2020 while YTD sales dipped 6 percent to 77,649 units. In the 3.5T and MHCV segments, sales stood at 521 units last month, a growth of 10 percent over 475 units sold in November 2020 while YTD sales surged 107 percent to 3,737 units over 1,805 units sold in the April to November 2020 period.
Three wheeler sales fell on a YoY basis by 33 percent to 2,564 units while YTD sales increased 111 percent to 16,876 units up from 8,001 units sold in the same period last year. FURIO 7 range of LCV trucks have seen good demand among buyers in Indian markets.
Exports on the other hand finished with a growth of 90 percent YoY to 3,101 units from 1,636 units shipped in November 2020. YTD exports also increased by 108 percent to 20,654 units from 9,932 units exported in the April to November 2020 period.
Farm Equipment Sales
Mahindra Farm Equipment has reported a 15 percent dip in tractor demand in markets in November 2021. Domestic sales stood at 26,094 units in November 2021 dipping 17 percent over 31,619 units sold in November 2020. YTD sales however, increased 9 percent to 2,52,181 units, up from 2,32,111 units sold in the same 7 month period of 2020.
Exports on the other hand saw significant growth in a YoY and YTD basis. YoY sales increased 43 percent to 1,587 units last month over 1,107 units sold in November 2020. The period April to November 2021 saw 11,366 units sold in global markets, up 87 percent over 6,067 units sold in the same period of 2020.