HomeCar NewsMahindra Sells 33k SUVs In Jan 2023 - Scorpio, XUV700, Bolero

Mahindra Sells 33k SUVs In Jan 2023 – Scorpio, XUV700, Bolero

In total, Mahindra sold 64,335 units including passenger vehicles, utility vehicles, cars, vans, commercial vehicles and even three wheelers

Mahindra Scorpio N Sales Jan 2023
Mahindra Scorpio N Sales Jan 2023

January 2023 seems to be a good month for Mahindra as there is nothing but positive growth in most segments. Numbers weren’t particularly good in December 2022 as people often refrain from buying a new vehicle at year’s end. This is so that the model is registered in the new year. Come new year, Mahindra’s backdrop only saw positive growth, except for LCVs < 2T.

Mahindra identifies as an SUV maker. In that sense, utility vehicles accounted for the most volumes that Mahindra has pushed last month. At 32,915 UVs in total, there was a 66% YoY growth as opposed to 19,964 units sold in F22. YTD sales registered by UVs stood at 290,764 units in total as opposed to 168,751 units YTD in F22 with 72% growth YoY. These include Scorpio N, Scorpio Classic, Thar, XUV700, XUV300 and Bolero lineup.

Mahindra Sales Jan 2023

Cars like KUV100, eVerito and Marazzo don’t sell as much as SUVs. Mahindra only managed to push 125 units last month. That was productive too as an 8% positive growth was observed. In total Mahindra’s total PV sales in domestic market stood at 33,040 units. This figure came with a 65% YoY growth as opposed to just 19,964 units of F22.

Total PV sales YTD stood at 292,898 units in F23 with an overall growth of an impressive 72%. In comparison, Mahindra’s exports weren’t as impressive as opposed to domestic sales. The 3,009 units shipped from India only registered 5% YoY growth. This is slightly better than Mahidnra’s 2,865 units shipped in F22. Exports YTD stood at 27,742 units in F23.

Mahindra Car Sales Jan 2023
Mahindra Car Sales Jan 2023

According to Veejay Nakra, President, Automotive Division, M&M Ltd., launches pertaining to Thar RWD, XUV400 garnered a massive response from Indian buyers in the first month of 2023. He further divulged that Utility Vehicles saw a growth of 66% and the company saw an overall growth of 37%. The dynamic supply chain situation is being looked into as well.

Commercial Vehicles Sales

Mahindra’s commercial vehicle portfolio consists of light commercial vehicles (LCVs), medium-heavy commercial vehicles (MHCVs) and even 3-wheelers. LCVs < 2T sold 2,675 units in January 2023 and is the only segment in Mahindra’s entire portfolio to register de-growth. With 2,984 units to beat, Mahindra saw a decline of 10% YoY in F23.

That said, YTD sales for LCVs < 2T stood at 34,519 and saw 41% growth YoY over F22. LCVs ranging between 2T – 3.5T are Mahindra’s forte and this segment pushed out 18,101 units and registered 3% YoY growth over 17,529 units sold in F22. YTD sales saw massive growth of 52% with 163,425 units.

LCVs > 3.5T + MHCVs sold 948 units. With 598 units to beat from F22, Mahindra saw 59% growth. A growth of 52% was registered in F23 YTD. Mahindra’s 3W vehicles registered by far the highest growth among this list. With 6,562 units sold in F23 and over 2,868 units in F22, sales grew 129% YoY and 114% growth YoY in YTD was equally impressive too. In total, Mahindra pushed 64,335 units out of its factories across its PV and CV portfolio with an overall positive growth of 37% YoY in January 2023 as opposed to last year.

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