In a remarkable display of strength and resilience in the Indian automotive market, Mahindra, a prominent player in the industry, has achieved its highest-ever monthly SUV sales in September 2023. This exceptional feat also marks the third consecutive month of unparalleled sales performance, cementing Mahindra’s position as a formidable contender in the sector.
Mahindra’s diverse product lineup boasts a spectrum of popular SUVs, including the Scorpio/N, Bolero, XUV300, Marazzo, XUV400, Thar, and the XUV700. The aggregate sales for this illustrious portfolio reached an impressive 41,267 units in the past month, reflecting a substantial year-on-year (YoY) growth of 21 percent from the 34,238 units sold in September 2022. Notably, this achievement also signifies an 11 percent month-on-month (MoM) increase, with August 2023 reporting 37,270 units sold.
Leading this triumphant charge is the Mahindra Scorpio/N, which has clinched the top spot in the company’s sales charts for the month. The Scorpio/N recorded robust sales of 11,846 units, signaling a noteworthy YoY growth of 24 percent from the 9,536 units sold in September 2022. MoM figures were equally impressive, with a 20 percent surge compared to the 9,898 units sold in August 2023. As a testament to its immense popularity, the Scorpio currently boasts a waiting period ranging from 52 to 55 weeks, contingent on the chosen trim level.
Securing the second position on the sales roster is the Bolero, with 9,519 units sold last month. This reflects a commendable YoY growth of 17 percent, up from the 8,108 units sold in September 2022. MoM sales remained strong with a 5 percent increase from 9,092 units sold in August 2023.
The Mahindra XUV700 has emerged as another significant player, with sales surging by 41 percent YoY and 31 percent MoM to reach 8,555 units in September 2023. This commendable performance translates to a substantial improvement over the 6,063 units sold in September 2022 and 6,512 units in August 2023. Both the Mahindra Scorpio/N and XUV700 have stood tall in the mid-size SUV segment, effectively competing with other noteworthy models such as the MG Hector/Plus, Hyundai Alcazar, and Tata Harrier and Safari.
Additionally, the Mahindra Thar has recorded sales of 5,417 units in September 2023, marking a notable YoY growth of 27 percent when compared to the 4,249 units sold in September 2022. However, MoM sales experienced a marginal dip of 9 percent from the 5,951 units sold in August 2022. Looking ahead, Mahindra is set to launch a new Thar 5-door variant in early 2024, promising an array of feature updates, including an all-LED lighting system, enhanced interior comforts, and equipment list enhancements.
While the Mahindra XUV300 has seen a temporary decline in sales, recording an 18 percent YoY drop to 4,961 units in September 2023, the company has an XUV300 facelift in the pipeline. Recent spy shots suggest that this refreshed model might come equipped with Advanced Driver Assistance Systems (ADAS), promising exciting prospects for the future.
In the electric vehicle segment, the XUV400 electric reported growth with 825 units sold in September 2023, representing a 6 percent MoM increase from the 778 units sold in August 2023.
The Mahindra Marazzo, while experiencing an 11 percent YoY decline to 144 units in September 2023 from the 162 units sold in September 2022, saw an impressive MoM surge of 206 percent from just 47 units sold in August 2023.
With an impressive and diverse product portfolio, Mahindra has managed to consistently perform well in the Indian automotive market. The company is now closing in on the coveted third position in the Indian car industry, currently held by Tata Motors. The positive sales figures for September 2023 underscore Mahindra’s potential to continue on its growth trajectory and further solidify its standing as one of India’s premier automobile manufacturers. The company’s commitment to innovation and customer satisfaction remains central to this ongoing success story.