M&M sells 30,358 units in February, UVs record 64% growth in first 11 months of FY2023

Mahindra & Mahindra (M&M) has reported passenger vehicle sales of 30,358 units in February 2023, up 10% (February 2022: 27,663). This comprises 30,221 utility vehicles, up 10% year on year (February 2022: 27,551) and 137 cars, up 22% (February 2022: 112).

The numbers, particularly for the UV segment, would have higher considering production has been somewhat impacted due to disruptions in the supply chain of crash sensors and airbag ECUs due to unavailability of semiconductors.

According to Veejay Nakra, President, Automotive Division, M&M, “We continue our trend of selling more than 30,000 SUVs per month and February saw a growth of 10% in the segment and an overall growth of 8%. Our recent launches – Thar RWD and XUV400 – have received a very positive response and we see good demand across our portfolio as well. We are monitoring and taking appropriate steps on the supply chain scenario of semiconductors, which continue to be dynamic.”

In a market which sees every second car being sold being a UV, M&M, which has 10 products in this segment, is recording strong gains. Cumulative sales for the first 11 months of FY2023 are 323,256 units, which constitutes robust 63% YoY growth (April 2021-February 2022: 198,292). Of this, UVs comprise 320,985 units which are a 64% YoY increase over the year-ago 196,302 units.

Meanwhile, with one month left for FY2023 to close, Mahindra & Mahindra has already clocked its best-ever sales for a fiscal. Its 323,256 units, clocked in the April 2022 to February 2023 period are already 68,905 units ahead oif the company's previous best of 254,351 units in FY2019. 

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