Thanks to the release of new SUVs like the XUV700, Scorpio, Thar, etc., Mahindra has surpassed all other SUV manufacturers in India.
Mahindra is the only business that can legitimately call itself an SUV manufacturer. Mahindra is one of the top SUV manufacturers in the nation, having produced more UVs than MPVs and automobiles combined. Mahindra has made significant progress in offering fashionable vehicles and has become a phenomenon in recent years with SUVs like the Scorpio, XUV700, and Thar. In October 2022, Mahindra sold 32,226 automobiles. In the same time frame, 32,298 passenger vehicles were sold, including vans, cars, and UVs. When contrasted to the KUV100 and Marazzo, this demonstrates the enormous popularity that Mahindra’s SUVs have.
October 2022 Mahindra Sales UV sales, which make up the majority of Mahindra’s sales, increased last month to 32,226 units from 20,034 units during the same period in 2017. With these numbers, Mahindra has experienced a staggering 61% YoY increase. Even better, the YTD growth rate for FY23 is 78% YoY, with 1,99,278 units sold YTD compared to 1,12,050 units sold YTD for FY22. Sales of the e-Verito, KUV100, and Marazzo are included in the category “Cars Vans,” which doesn’t contribute significantly to Mahindra’s revenue. Sales decreased 25% YoY from 96 units sold a year ago to 72 units sold last month. Despite this, Cars Vans sales for the first 23 months of FY23 increased by 77% to 1,743 units from 1,435 units.
Last month, 32,298 units of domestic PV were sold in total, up from 20,130 units sold the previous month. Mahindra records an excellent YoY growth of 60%. Mahindra had strong growth of 77% in its YTD sales in FY23, which have surpassed the 2-lakh mark. In FY22, Mahindra sold 1,13,485 units. LCV 2T makes up 4,562 units, an increase from the 3,175 units sold in October 2021. Sales increased by 44% YoY. YTD sales increased by 61% to 26,170 units from 16,270 units sold in FY22. Sales of LCVs 2T-3.5T rose at 15,728 units, up from 11,178 units sold the previous year and showing a positive growth of 41%. Sales for FY23 have surpassed one lakh so far.
Mahindra achieved a commendable 72% rise with 1,12,988 units sold YTD in FY23, up from just 65,600 units sold the year before. LCV>3.5T+MHCV statistics made up a total of 690 units, which is a decrease from the 724 units sold a year earlier and only a 5% YoY loss. Oct 2022 Mahindra Exports According to Veejay Nakra, President of the Automotive Division at M&M Ltd., “On the strength of high holiday demand, our sales volume continued to climb in October.” Due to robust demand throughout our whole portfolio, we sold 32,226 SUVs in October, an increase of 61% from the previous month. Our commercial vehicles also experienced significant month-over-month growth.
A commendable 5,081 units of Mahindra’s 3W (including electric 3Ws) were sold in October 2022, up from 3,527 units in October 2021. Mahindra had a 44% YoY gain as a result. 3W’s YTD sales increased by 114% to 30,682 units from 14,312 units, more than double its previous year’s sales. 2,755 units were exported during the month of October 2022. Exports decreased 13% YoY as compared to the 3,174 units sold the year before. Sales for the first half of FY23 totaled 18,511 units, up from 17,553 units the year before, a mere 5% increase.