Mahindra & Mahindra sells 39,981 SUVs in November, up 32% YoY

Mahindra & Mahindra (M&M), armed with its SUV-laden portfolio, continues to make strong gains in the domestic market. The company has reported wholesales of 39,981 units in November 2023, up 32% YoY (November 2022: 30,392 units). Month-on-month, sales in November are down 8.5% (October 2023: 43,708 units). The festive month of October 2023 delivered M&M’s best monthly sales yet.

Mahindra & Mahindra, which has eight SUVs (Bolero, Bolero Neo, Scorpio, Scorpio N, Scorpio Classic, Thar, XUV300, XUV400 and XUV700) and a sole sedan (eVerito), is among the OEMs riding the surging wave of demand for UVs in the country.

With cumulative sales of 298,603 units in the April-November 2023 period, the company is well set to record its best-ever sales in a fiscal. With four months left to go for FY2024, M&M’s sales in the fiscal to date are already 83% of the SUV maker’s record sales of 359,253 units in FY2023.

M&M's strong and sustained growth trajectory has continued throughout this year and the company is headed for record-breaking sales in FY2024. 

A glance at the sales data table above reveals the strong and sustained growth trajectory the SUV manufacturer has maintained throughout the first eight months of FY2024. Clearly, M&M is driving hard towards a record FY2024, somewhere in the region of 450,000 or more units, given the massive number of bookings the company has for many of its high-selling SUVs like the XUV700, Thar, Scorpio N and Classic and the XUV300. 

The company has already expanded its SUV manufacturing capacity from 29,000 units per month to 39,000 units in December 2022 and plans to further increase it to up to 49,000 units in the current financial year or 600,000 units per annum

Commenting on November sales, Veejay Nakra, President, Automotive Division, M&M, said: “We continue our growth trend, backed by strong demand for our SUV portfolio. In November, we sold a total of 39,981 units, a growth of 32%. While we saw a healthy festive season, we faced supply challenges on select parts during the month. We are keeping a close watch and taking appropriate steps to mitigate the challenges.” 

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