In July 2023, Mahindra witnessed a substantial 29.98 per cent year-on-year surge in passenger vehicle sales, totalling 36,205 units, a notable increase from the 27,854 units recorded in July 2022. This uptick translated to a growth of 8,351 units in terms of volume. On a month-on-month basis, sales also exhibited a positive trend, improving by 11.10 per cent from June 2023’s 32,588 units.
The overall July 2023 figures for Mahindra encompass both domestic and export sales, amounting to 66,125 units. Within this scope, the passenger vehicle segment spotlighted SUV sales, registering 36,205 units, reflecting a 30 per cent year-on-year increase from July 2022’s 27,854 units.
Year-to-date (YTD) sales in July 2023 reached 1,36,367 units, showing a remarkable 32 per cent growth compared to the 1,03,274 units achieved during the same period the prior year.
Regarding the company’s cars and vans, sales experienced a decline, plummeting to zero units in the recent month from the 199 units recorded in July 2022. Simultaneously, F24 sales stood at a mere 10 units, marking a stark 99 per cent drop in contrast to the 1,089 units sold in the year-to-date period of FY2023.
These factors collectively contributed to a total of 36,205 passenger vehicle sales in July 2023, marking a substantial 29 per cent surge from the 28,053 units sold in July 2022. YTD sales also showcased improvement, growing by 31 per cent, totalling 1,36,377 units.
Shifting the focus to commercial vehicles and three-wheelers, the 3.5T+MHCV segment observed 995 units sold in the previous month, marking a 23 per cent increase from July 2022’s 808 units. Year-to-date sales exhibited a robust 56 per cent rise, reaching 4,315 units. In the three-wheeler category, including electric variants, a noteworthy 49 per cent year-on-year growth was recorded, with sales rising to 6,481 units from July 2022’s 4,351 units.
Considering exports, Mahindra dispatched 2,540 units in the recent month, signifying a 9 per cent year-on-year decline compared to July 2022’s 2,798 units. This also led to an 8 per cent year-to-date decline, with exports totalling 9,474 units in FY2024, as opposed to the 10,306 units in the corresponding period of the previous year.
Rural sector optimism bolstered demand for tractors, with Mahindra achieving sales of 24,168 units in July 2023, a notable increase from the 21,684 units sold in July 2022.
The prime performers in the passenger vehicle sector were the Scorpio/N, Bolero, and XUV700 models. The Scorpio model achieved its highest-ever monthly sales since its launch, while the XUV700 crossed the milestone of 1 lakh units sold in just 20 months. In July 2023, the Mahindra Scorpio/N also garnered significant attention.
As the next step, Mahindra is gearing up to launch the Thar EV, with plans to showcase the electric concept at a public event scheduled for August 15th in South Africa.
Also Read: Mahindra confirms Bolero.E & Scorpio.E electric SUVs