Mahindra sets new record, sells 36,000 SUVs in March: Thar, Scorpio-N and XUV700 continue streak – Times of India

Mahindra & Mahindra has announced that the company’s SUV sales for the month of March 2023 stood at 35,976. This sets a new record for Mahindra’s passenger vehicles division with its SUVs, cars and vans bringing in total sales of 35,997 units. When compared the March 2022’s 27,603 units, the company has achieved a 31 percent growth in its sales this year. On a broader glance, the company has also sold its highest-ever number of SUVs on an annual basis at 356,961 units, with a growth of 60 percent. The record sales have been achieved despite waiting periods for mahindra SUVs running up to 1.5 years.

Since the automaker launched the new generation Thar 4×4 in 2020 and launched new models such as the XUV700 in 2021 and the Scorpio-N in 2022, the demand for Mahindra SUVs has been on a constant upward trajectory. The company has also diversified its mid-size SUV line-up with the XUV300 TurboSport and the XUV400 EV. However, the response in this segment is not nearly comparable to what Mahindra has enjoyed in the 4×4 and 7-seater premium SUV segments.

Mahindra’s commercial vehicles division has also seen growth in terms of sales. The CV segment recorded a sale of 22,282 vehicles in March 2023 (growth of 12%) and annual sale stood at 248,576 vehicles (growth of 40%). On the other hand, exports for the month were at 2,115 vehicles, and the company sold 5,697 units of its 3-wheelers in March 2023.

Commenting on the development, Veejay Nakra, President of the Automotive Division and M&M Ltd., said, “Our SUV business recorded all-time high numbers, with a growth of 31% in March 2023, while it recorded a 60% overall growth in F23, on the back of good demand across the portfolio. The Pik-up (LCV 2-3.5T) segment recorded the highest-ever annual volume with a strong 43% growth, consolidating its leadership position. We would like to thank our associates, dealers, partners, suppliers, and customers, who have made this a remarkable year.”