Mahindra has seen a 15% YoY and 22% YTD growth across its PV segment while CV sales plunged
Mahindra passenger vehicle sales in domestic markets has seen a comfortable surge of 14.96% with 41,623 units sold last month. All of these sales came from its SUV lineup with 0 sales from its cars and van segment.
Mahindra July 2024 SUV Sales
Mahindra domestic sales, which increased by 14.96% YoY in July 2024 to 41,623 units, were against 36,205 units in July 2023, relating to a volume growth of 5,418 units. The company also witnessed an increase in MoM sales by 4% over 40,222 units sold in June 2024.
Taking into account passenger vehicle sales on a year-to-date (YTD) basis, there were 1,65,871 units sold in July 2024. This was a 2% improvement over 1,36,367 units sold in the April to July 2023 period thus relating to 26,504 units. The company had managed to sell 10 units of passenger vehicles in the car/van segment in the April to July 2023 period which fell by 100% during the past 7 months.
It was the company’s SUV lineup that includes the Scorpio/N, XUV700, Bolero, Thar, XUV3XO and XUV400 EV that boosted sales while the company now looks forward to launch of the new Thar Roxx 5 door. It will be launched in India on 15th August 2024.
Keen to promote sales across the electric car segment, Mahindra plans launch of the XUV700 EV, XUV700 Coupe SUV EV and BE.05 in the coming years. All three cars have been spied testing regularly around different terrains in India.
Mahindra Commercial Vehicle Sales July 2024
Across the commercial vehicle segment, sales have been lackluster except for sales in the >3.5T+MHCV range. Sales in LCV 3.5 and MHCV. Sales shot up by 77% YoY to 3,136 units in July 2024 whereas there had been just 1,775 units sold in July 2023. YTD sales also surged by 79% to 12,337 units over 6,890 units sold in the year ago period.
Mahindra’s 3 wheeler range that also includes electric models, saw sales fall by 45% YoY and by 12% YTD to 3,593 units and 21,244 units respectively. Whereas there had been 6,481 units sold in July 2023 and 24,261 units sold in the YTD period of 2023.
Not only did Mahindra witness lower sales in domestic markets, but company exports too fell by a massive 40% YoY to 1,515 units in July 2024 from 2,540 units exported in July 2023. YTD sales suffered a 9% setback to 8,640 units in the April-July 2024 period from 9,474 units sold in the same period last year.
