As opposed to SUV lineup, the company’s cars and vans don’t sell as much as seen in the Mahindra Sales March 2024 charts
The month of March 2024 proved quite productive for Mahindra Auto with an overall 28% YoY growth in passenger vehicles analysis in the domestic market. Overall sales for the brand (Domestic + Exports across PVs and CVs) stood at 68,413 units with a 4% YoY growth. But there was a slight MoM decline in overall sales as opposed to the 72,923 units from February 2024.
Mahindra Sales March 2024
Vehicles marketed as UVs are Mahindra’s forte. In the month of March 2024, the company sold 40,631 UVs, up from 35,976 units sold in March 2023. This resulted in a 13% YoY growth. YTD, Mahindra’s UVs accounted for 4,59,864 units and registered a 29% YoY growth over 3,56,961 units sold last year.
SUVs like Scorpio N, Scorpio Classic, Thar, XUV700, XUV300, XUV400, Bolero and Bolero Neo are Mahindra’s star performers where sales are concerned. However, Mahindra’s Cars and Vans don’t sell as well and the sales charts reflect that. With 0 units sold last month, it would be better to call Mahindra an SUV maker and not a car maker.
YTD, Cars + Vans accounted for 13 units only, which was a 99% YoY decline over 2,292 units sold last year. In total, passenger vehicles accounted for 40,631 units in March 2024 and 4,59,877 units YTD in F24. Where exports are concerned, Mahindra has shipped a total of 1,573 units, down from 2,115 units from last year with a 26% YoY decline. There were 24,663 units shipped to global markets YTD, down from 32,107 units and a 23% YoY decline.
Commercial Vehicles
Mahindra has been one of the leading commercial vehicle manufacturers in India. Especially where LCVs are concerned, Mahindra is the leading brand as well. In March 2024, Mahindra sold 26,209 units of commercial vehicles.
Breaking the numbers apart, LCVs < 2T accounted for 4,012 units sold last month and 44,093 units YTD in F24. This resulted in a 19% YoY growth in March 2024 and a 9% YoY growth in YTD analysis in F24.
Mahindra’s LCVs 2T – 3.5T are some of the most popular in Indian market over offerings from rivals like Tata Motors, Ashok Leyland, Eicher and others. The company sold 13,601 LCVs between 2T – 3.5T capacity last month, down from 17,428 units sold last year and saw a 22% YoY decline. YTD, there were 1,92,603 units of this class with 3% YoY decline.
Mahindra took greater strides in 3.5T + MHCV segment that saw a 126% YoY growth with 3,317 units sold. YTD, there was a 170% YoY growth with 27,114 units sold in F24 over 10,036 units in F23. 3W vehicles saw 5,279 units sold last month, which was down by 7% YoY. YTD, 3W vehicles saw 33% YoY growth.
Statement from Mahindra Auto
According to Veejay Nakra, President, Automotive Division, M&M Ltd., “We ended the financial year F24 on a positive note with Mahindra PikUps crossing 2 lakh units during the year, which is the highest ever for any commercial vehicle in the load segment in India. In March, we sold a total of 40,631 SUVs, with a growth of 13% and 68,413 total vehicles, a 4% growth over last year.”
