Mahindra sells 41,267 SUVs in September, registers 29% uptick in H1 FY24

Homegrown automaker Mahindra & Mahindra (M&M) has clocked total UV sales of 41,267 units in September, registering a 20 percent year-on-year (YoY) uptick compared to 34,262 units despatched in the same month last year. The company says the September numbers are its best-ever and have been on a consistent rise for last three months in a row. 

“We are excited to achieve our highest-ever SUV sales for the third consecutive month,” Veejay Nakra, President, Automotive Division, M&M, said in a statement. On a financial year basis, the company has clocked total UV sales of 214,904 units in H1 FY24 (April-September 2023), registering a notable 29 percent YoY uptick (H1 FY23: 167,052 units). The company has been focusing on SUVs, and did not despatch any cars or vans last month. Its total sales from this category stood at only 10 units in the H1 FY24 period.

While demand for its key SUV brands – Scorpio Classic, Scorpio N, Bolero, Thar, XUV700 and XUV300 continues to be strong, according to Nakra, “We are keeping a close watch on the availability of semiconductors, and select components to meet the strong festive season demand.”

In terms of the commercial vehicle sales, M&M’s domestic September sales included 3,941 units of vehicles in the sub-2T category (September 2022: 4,452 / -11%); 18,917 units in the 2T-3.5T category (16,413 / +15%), and 1,139 units in the above 3.5T segment (801 / +42%). Sales of three-wheelers, including electric three-wheelers from the Mahindra Last Mile Mobility brand stood at 7,921 units last month, registering a 37 percent YoY uptick over 5,774 units clocked in September last year. 

“In September, we also crossed the 100,000-unit milestone for our Bolero Maxx pick-up trucks, making it the fastest-selling pick-up in the country to reach that mark,” Nakra said.

While the company registered a 5 percent YoY decline in H1 FY24 CV sales in the sub-2T category, with overall sales being pegged at 20,629 units (H1 FY23: 21,608); 10,278 units in the 2T-3.5T category (97,260 / +6%); and 6,403 units in the above 3.5T category (4,208 / +52%), three-wheeler sales during this period registered a notable 53 percent YoY uptick with overall six-monthly sales being pegged at 39,226 units (25,580), including electric three-wheelers. 

The company registered a 5 percent YoY decline in total exports, pegged at 2,419 units in September (September 2022: 2,538), while H1 FY24 exports performance also registered a 9 percent YoY drop to 14,316 units (H1 FY23: 15,756).