XUV700, Scorpio, Bolero, and More Help Mahindra Register 19% YoY Sales Growth in August

Mahindra has announced its sales figures for the last month. In August 2023, the automaker sold a total of 70,350 vehicles, registering a 19% increase over the same period in 2022.

Mahindra & Mahindra announced its sales figures for the previous month, i.e., August. The Indian auto giant sold a total of 70,350 vehicles in the last month, exhibiting an increase of 19% from the same period in 2022. With 37,270 SUVs sold, a 26% year-over-year increase, the firm further reported its best-ever Utility Vehicles (UV) sales in India. However, when exports are taken into account, the total number of vehicles sold in the UV category for August was 38,164 units. According to the industry reports, the Mahindra Scorpio-N, the XUV700, and more were the best-selling models and contributed to the sales growth in the last month. In terms of the commercial vehicles segment, the Indian company announced selling a total of 23,613 units in the country.

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Mahindra Sales August 2023: More Details

According to the firm, a total of 2,423 units were exported in August 2023. However, this number represents a 17% decrease compared to F23. In terms of year-to-date exports, the company dispatched 11,897 units. The Utility Vehicles segment of Mahindra & Mahindra experienced significant growth with sales up by 31% compared to the previous year. Additionally, the Passenger Vehicles category saw an increase in sales by 29% over the same period.

In August 2023, 949 LCV 3.5T and MHCV units were sold, which is a gain of 47% from the 646 units sold in the same period last year. Mahindra has also experienced a boost in sales of its electric three-wheelers. In August 2023, the number of electric 3Ws sold increased by 47% to 7,044 units, up from 4,793 vehicles sold during the same time in 2022.

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Mahindra Sales August 2023: What the Company Has to Say?

Veejay Nakra, President of the Automotive Division, M&M Ltd., commented on the sales numbers and said “We are excited to witness another record month, as we clocked our highest-ever SUV domestic sales of 37,270 in a month with a growth of 26%. We also registered an overall growth of 19% for the month of August. While demand for our key SUV brands continues to be strong, we are keeping a close watch on the availability of semi-conductors and select parts, for sustained and smooth scaleup.”