Growth in passenger and tractor segments remained flat while commercial vehicle segment registered decline
While most OEMs in the passenger vehicle segment reported impressive improvement in their monthly sales figures for the month of October 2020, Mahindra found itself registering a negative overall growth. The delay in the launch of eagerly anticipated next-generation Scorpio and XUV500 could be hurting the progress.
Mahindra October 2020 passenger vehicle sales
Mahindra managed to sell 18,317 utility vehicles last month as against 17,785 units during the same month last year, a YoY growth of 3%. However, the cars and vans segment which includes products from its electric mobility division registered 55% decline at 305 units.
The firm’s total passenger vehicle sales in October 2020 stood at 18,622 units as against October 2019’s tally of 18,480 units, a meager 1% growth. The good news is that the deliveries of new 2020 Thar has officially started. The first owner, Aakash Minda took delivery in New Delhi earlier today.
Speaking about Mahindra car sales, if we look at year-till-date figures of this ongoing financial year, the picture is even grim but then the few months of lockdown has similar effect on other OEMs as well. Mahindra sold 70,097 units in this fiscal so far as against 1,22,531 units during the same period last year, a negative growth of 43%.
Commercial vehicle sales
Mahindra registered negative growth in all the main CV segments it plays in but has reported that demand for its popular products like Bolero Pik-up, Supro and Jeeto are growing strong. In the sub-2 tonne LCV segment, the brand registered sales of 4,165 units at YoY difference of -2% while the 2 to 3.4 tonne segment witnessed a negative growth of 14% with a tally of 15,895 units last month.
In the 3.5 tonne plus segment Mahindra sold 538 units at a decline of 37%. The three wheeler segment represented a decline of 56% but the recently introduced BS6 ALFA is expected to improve things in the coming months.
Farm Equipment Sector
The world’s largest tractor manufacturer managed to sell 45,588 units in the domestic market, a 2% YoY growth. At 970 units, export grew by 23% compared to October 2019. Mahindra says that it is witnessing an unprecedented demand at the retail end of the sales operations which is likely to overtake dispatches (wholesales) during the festive season. This is due to the improved cash flow driven by a higher Kharif output.
The latest spyshots revealed that XUV500 will be equipped with a premium single-piece wide display which functions as instrument console as well as infotainment system. The higher variants are also expected to come with ADAS features, electronic park brake and so on.