Mahindra Clocks 31% SUV Sales Growth in January 2024, More Than 43,000 Units Sold

Mahindra & Mahindra has released its home market utility vehicle (SUV) sales numbers for January 2024. At 43,068 units, last month's sales were up by 31 per cent on a year-over-year (YoY) basis. In comparison, one of India's leading automotive companies sold 32,915 units in January 2023. At the moment, the company sells the Bolero, Bolero Neo, Scorpio-N, Scorpio Classic, Thar, XUV300, XUV400, XUV700, Marazzo, and the KUV100 NXT in India. Speaking of SUVs, one of Mahindra's top sellers, the Scorpio-N has crossed the 1 lakh-unit production mark in less than two years. Launched in June 2022, the SUV is offered in five variants: Z2, Z4, Z6, Z8, and Z8L, spread across seven exterior colours. 

Under the hood, the Scorpio-N gets two engine options — a 2.0-litre turbo-petrol engine and a 2.2-litre diesel engine. When running on turbo-petrol, the SUV makes 200bhp and 380Nm of peak torque, while the diesel-powered model generates 173bhp and 400Nm of peak torque. Both engines come mated to either a 6-speed manual or a 6-speed automatic gearbox. While the rear-wheel drive comes standard, the diesel version additionally gets four-wheel drive as an option.  

In terms of features, the Scorpio-N offers an 8.0-inch touchscreen, cruise control, an electric sunroof, a 12-speaker Sony 3D surround sound system, wireless charging, dual-zone climate control, ESC, hill-hold assist, and a 360-degree camera. The SUV is available in six-seater and seven-seater configurations. Price-wise, the SUV starts at Rs. 13.60 lakh and goes up to Rs. 24.54 lakh. All prices are ex-showroom. 

Mahindra's CV Sales in January 2024

Meanwhile, the overall auto sales (including exports) of the company stood at 73,944 units, representing a 15 per cent YoY increase. In the commercial vehicle segment, the brand reported selling 23,481 units in the domestic market during January 2024. Of these units, 17,116 units of LCVs (Light Commercial Vehicles) in the 2 to 3.5 tons category were dispatched, denoting a 5 per cent decrease from 18,101 units. On the other hand, the LCVs below 2 tons recorded a rise of 51 per cent, and the LCVs above 3.5 tons and MHCVs (Medium and Heavy Commercial Vehicles) saw a 145 per cent increase. As far as the three-wheeler market (inclusive of EVs) is concerned, Mahindra sold 5,649 units, witnessing a 14 per cent decrease in sales year-on-year. 

Mahindra's Exports in January 2024

In terms of exports, Mahindra sold a total of 1,746 vehicles in January 2024, experiencing a 42 per cent decline compared to 3,009 units recorded in January of the previous financial year, while a look at the year-to-date (YTD) sales figures tells us that the brand exported a total of 21,551 vehicles, reflecting a 22 per cent decrease.  

Speaking of YTD sales, total passenger vehicle (SUVs + Cars + Vans) sales for the financial year 2023-24 at 3,76,845 units were up 29 per cent, while the SUV sales grew by 30 per cent in the April to January period to 3,76,832 units. Finally, the sales of cars and vans declined to 13 units from 2,134 units. 

Mahindra's Comment

Veejay Nakra, President, Automotive Division, M&M Ltd., "In January, we sold a total of 43,068 SUVs, a healthy 31% growth and a total of 73,944 vehicles, a 15% growth over last year. We began the year with the launch of the 2024 XUV700, with a whole host of new features, that elevate comfort, tech and sophistication to the next level. Honouring the spirit of 'Viksit Bharat' this Republic Day, we flagged off the "Drivers of Change" initiative that honours women achievers across various fields and highlights their role as a driving force in India's progression towards an advanced and inclusive society."