Mahindra sales in the passenger vehicle segment were solely driven by its utility vehicle lineup
An outstanding array of utility vehicles, among which are the Scorpio N, Scorpio Classic, Thar, XUV700, XUV300, XUV400, Bolero and Bolero Neo along with the new XUV3XO, has seen Mahindra post a healthy 16% YoY growth in August 2024. All of the company’s sales in the passenger vehicle segment came from its SUV lineup. Car and van sales were down to 0 units.
Mahindra PV YoY and YTD Sales August 2024
Mahindra has reported a 16% YoY across its PV segment. Exclusively boosted by the company’s UV lineup, sales in the past month improved by 16.12% on a YoY basis to 43,227 units.
There had been 37,270 units sold in August 2023 while MoM sales also by 3.97% over 41,623 units sold in July 2024. The new Thar Roxx 5 door launched in India on 15th August 2024 is aiming for a No. 1 position in its segment, attracting customers with its premium features and best-in-segment off-roading equipment.
Year-to-date (YTD) sales of passenger vehicles also saw a 20% growth to 2,09,148 units during the period April-August 2024 up from 1,73,637 units sold in the same 5 month period last year. The company had also seen 10 units of its cars/vans sold in the FY24 period which dipped to 0 units in the same period this year relating to a 100% YTD decline. This took total YTD sales to a 20% improvement from 1,73,647 units sold in April-August 2023.
Sales are set to be boosted with an array of electric cars planned for launch. These include the Mahindra XUV700 EV, XUV700 Coupe SUV EV and BE.05. Each of these vehicles are currently on test and are likely to be launched by FY 2025-26.
Mahindra CV YoY and YTD Sales August 2024
Commercial vehicle sales saw the company’s LCV3.5T and MHCV segment grew by 81% YoY to 3,474 units, up from 1,917 units sold in August 2023. YTD sales also improved by 80% to 15,811 units, over 8,807 units sold in the April-August 2023 period.
Mahindra also sells a range of 3Ws which also includes electric 3Ws and sales surged 32% YoY in August 2024 to 9,3,26 units, up from 7,044 units sold in August 2023. YTD sales however dipped marginally by 2% from 31,305 units sold in the April-August 2023 period to 30,570 units in the corresponding period of the current year. Exports of the company also resulted in a 26% YoY growth but a 2 percent YTD decline to 3,060 units shipped in August 2024 and 11,700 units exported during the April-August 2024 period.