Mahindra has posted a 25% YoY and 4% MoM growth in July 2024 to command a 12.1% market share
Mahindra, the 4th best-selling automaker in India after Maruti, Hyundai and Tata Motors, has seen outstanding sales in the past month. The company has reported a YoY and MoM improvement in sales while market share too improved to 12.1%. In fact, among all automakers in India, Mahindra and Toyota were the only two automakers to show off both YoY and MoM growth along with improvement in market share for July 2024.
Mahindra Sales Breakup July 2024 – YoY Comparison
Mahindra sales in July 2024 stood at 41,523 units. This was a 15% YoY growth over 36,205 units sold in July 2023. It was the Scorpio/N that featured in a No. 1 spot with 12,237 units sold in the past month, a 16% YoY growth over 10,522 units sold in July 2023. In July, the company augmented features on the Scorpio/N with ventilated seats and auto dimming IRVMs, thus enhancing the overall appeal for buyers.
Mahindra XUV3XO was at No. 2 with a massive 121% YoY growth in sales to 10,000 units, up from 4,533 units sold in July 2023. The XUV3XO, currently at No. 5 on the list of sub 4-meter SUVssaw a new Sports Edition added to the list of variants. Sales of XUV700 also improved dramatically in July 2024 to 7,769 units, up 26% over 6,176 units sold in the same month a year earlier.
It was followed by the Bolero, sales of which fell by 22% YoY to 6,930 units, down from 8,921 units sold in July 2023. Mahindra Thar sales also suffered a setback by 17% to 4,385 units whereas there had been 5,265 units sold in July 2023. The XUV400 (288 units) and Marazzo (14 units) too reported significantly high losses down by 59% and 83% respectively in terms of YoY sales.
Mahindra Sales Breakup July 2024 – MoM Comparison
Month-on-month (MoM) sales which improved by 4% over sales of 40,022 units in June 2024 saw the Scorpio/N report a marginal decline of 1% over 12,307 units sold in June 2024. Sales of the XUV3XO improved by 18% from 8,500 units while sales also increased for the XUV700 by 31% when compared to 5,928 units sold in June 2024.
Mahindra is offering a hefty price cut by upto 2.2 lakh on the fully loaded XUV700 AX7 range. These discounts were in honour of 3 years of the XUV700 and production of 200,000 units in less than 3 years.
Bolero and Thar sales suffered MoM losses. Bolero dipped 6% from 7,365 units while Thar sales also fell by 18% from 5,376 units sold in June 2024. XUV400 saw a significant decline by 46% MoM while Marazzo sales improved by 17% over 12 units sold in June 2024.
Mahindra gears up for a series of new launches. The Thar Roxx 5-seater is set to be launched on 15th August 2024 while the BE.05, XUV700 EV, XUV700 EV Coupe are out on test rounds. New XUV400 EV has also been spied. All these new range of EVs are expected to be launched in the coming year.
