Mahindra SUV sales surged in June 2024 reporting a 22.83% YoY growth while MoM sales fell 7.40%
Mahindra has reported robust sales in June 2024 more particularly where its utility vehicles were concerned. Models such as the XUV700, Scorpio/N and new XUV3XO have won over the attention of buyers in the country showing off stable sales figures.
Mahindra June 2024 SUV Sales at 40k
While total sales (PV + CV) stood at 69,397 units, a growth of 11%, which also included exports, its passenger vehicle segment was more defined with utility vehicle sales at 40,022 units. This was a YoY growth of 22.82% over 32,585 units sold in June 2023 while sales dipped by 7.40% when compared to 43,218 units sold in May 2024.
Its SUV lineup, that includes the Scorpio/N, XUV700, Bolero, Thar, XUV3XO and XUV400 EV accounted for these outstanding sales. In June 2024, the company also celebrated the rolling out of its 2,00,000th XUV700 while in the LCV segment, the company also marked 25 years since the Bolero Pick Up was introduced. The new XUV3XO, launched in April 2024 has seen enormous success with a waiting period that now extends to four to six months for new bookings. The XUV3XO is presented in a total of 9 variants – MX1, MX2, MX2 Pro, MX3, MX3 Pro, AX5, AX5 Luxury, AX7, and AX7 Luxury with starting price at Rs. 7.49 lakh (ex-showroom).
Mahindra utility vehicle sales last month which improved by 23% YoY also saw a 24% YTD growth from 1,00,162 units sold in the April-June 2023 period to 1,24,248 units sold in the same period of 2024. Car sales dipped to 0 units in June 2024 whereas there had been 3 units sold in June 2023. YTD car sales also fell 100% from 10 units sold in FY24 to 0 units in FY25.
Mahindra CV and 3W Sales June 2024
Commercial vehicle (CV) YoY and YTD sales on the other hand saw growth across the LCV in sub-2T and in the 3.5T and MHCV segments while 2T-3.5T LCV sales dipped significantly. LCV sales in the sub-2T segment improved by 5% YoY to 3,223 units in June 2024 from 3,063 units sold in the same month of 2023. YTD sales also saw a 4% growth from 9,392 units sold in the FY24 period to 9,751 units in the FY25 period.
Demand for LCVs in the 2 T to 3.5 T segment has seen lackluster sales with a 12% YoY and 7% YTD de-growth to 14,097 units and 43,570 units respectively in June 2024 and during the period April to June 2024. There was however, outstanding demand for commercial vehicles in the LCV > 3.5T + MHCV segments that grew by 77% on a YoY basis to 3,274 units in June 2024 from 1,854 units sold in June 2023. It was also an outstanding YTD growth of 80% to 9,201 units sold during the April to June 2024 period, up from 5,115 units sold in the April to June 2023 period.
Three wheeler sales, that also included the company’s electric lineup saw a YoY de-growth of 3% to 6,185 units in the past month from 6,377 units sold in the same month last year. YTD sales also fell 1% to 17,655 units in the FY25 period from 17,780 units sold in FY24. Mahindra exports also saw a surge in June 2024 with 2,597 units shipped in the past month, up 4% over 2,505 units exported in June 2023. YTD exports also improved by 3% from 6,934 units shipped in the April-June 2023 period, from 7,125 units exported in the 2024 period.
According to Veejay Nakra, President, Automotive Division, M&M Ltd., “We sold a total of 40,022 SUVs in June, a growth of 23% and 69,397 total vehicles, a 11% growth over last year. June has been a momentous month, as we rolled out the 200,000th XUV700 from our facility. We also celebrated 25 years of Bolero Pik-Ups, a category creator and a market leader in the LCV segment.”
