Mahindra & Mahindra has managed to increase its market share as well, but has slipped a few positions on the sales chart
In November 2020, Mahindra & Mahindra managed to retail a total of 18,212 units in India. The sales figures have remained nearly the same as that of the month prior, i.e., October 2020, when the company managed to sell 18,318 units, thereby registering degrowth of just 0.58 per cent this November, on a Month-on-Month (MoM) basis.
Compared to the same period last year, however, Mahindra’s sales have improved marginally. During November 2019, the company had achieved a retail figure of 14,637 units, which translates to a sales growth of 24.42 per cent on a Year-on-Year (YoY) basis. The company has managed to increase its market share as well.
In November 2020, Mahindra & Mahindra held a market share of 6.4 per cent, thereby grabbing the fifth position in the Indian passenger vehicle market (behind Maruti, Hyundai, Tata, and Kia, in descending order of market share). In November 2019, the homegrown UV maker’s market share was 5.4 per cent, although interestingly, it had a higher position on the sales chart back then – third position (behind Maruti and Hyundai).
Mahindra & Mahindra’s stagnant sales may be due to the expected arrival of its upcoming next-generation models. The company will introduce the second-generation XUV500 in the Indian market next year, followed by the second-generation Scorpio. Perhaps potential Mahindra customers are waiting for these new models to launch, and considering the upgrades these SUVs are speculated to receive, this seems plausible.
Commenting on the Passenger Vehicles performance, Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd. said, “At Mahindra we are happy to achieve strong double digit growth in SUVs during the month of November, aided by a robust festive demand for all our products. Given strong rural growth and signs of improvement in economic activities, we are hopeful to see this positive momentum continue post the festive season.”
The second-generation Thar has showcased that the new Mahindra vehicles are a big step-up from the older ones, and people expect the same from the new XUV500 and Scorpio as well. Several spy pictures have also brought to light a slew upgrades these new vehicles are set to receive.
Mahindra also has a few new EVs in the pipeline, which are expected to debut next year. The company’s popularity in the Indian market is expected to increase drastically in the Indian market upon launch of these new-generation vehicles, as demonstrated by the Thar. In fact, the latter has received an overwhelming response from buyers, and the waiting period has now extended up to seven months!