Mahindra recorded its highest-ever monthly sales in October 2023 with a total of 43,708 units as against 32,298 units with a YoY growth of 35 per cent
On the back of strong demand during the festive season, Mahindra & Mahindra posted 43,708 units in the month of October 2023 as against 32,298 units during the same period last year with a YoY positive volume increase of 35 per cent. The homegrown manufacturer sells as many as eight SUVs across different segments and its latest launches have been well received by customers.
However, the logistical and semiconductor issues exacerbated by the health crisis did take a toll on deliveries as the waiting period went up significantly. In recent times, Mahindra ramped up production activities to bring down the waiting time. Commenting on the sales performance in the month of October, Veejay Nakra, President, Automotive Division, Mahindra & Mahindra, said:
“While the strong festive demand should see us continue our growth momentum in November, we will keep a close watch of select supply related challenges.” So far this FY, Mahindra garnered 2,58,622 unit sales and is well on its way to beating last fiscal’s total volume sales. The production capacity will be further increased this FY to meet the strong demand for SUVs like XUV700, Thar, Scorpio N and others. The brand will introduce three new models next year as well.
The facelifted Mahindra XUV300, the five-door Mahindra Thar and the XUV.e8 electric SUV based on the XUV700 are waiting in the pipeline and they will strengthen the brand’s SUV portfolio. Across various disciplines, Mahindra reported total sales of 80,679 units as against 61,114 units during the same month in 2022 with a YoY growth of 32 per cent.
In the UV space, M&M recorded its highest monthly sales for the fourth month in a row and adding the exports, the total stood at 44,264 units. In the farm equipment sector, Mahindra’s total tractor volumes declined by 3 per cent as 50,460 units were recorded last month as against 51,994 units during the corresponding period twelve months ago.
The domestic tractor sales dropped by 2 per cent in October 2023 to 49,336 units while the brand shipped 1,124 units of tractors with a de-growth of 23 per cent.