Mahindra's SUV sales up 24% in December 2023: Here's why
What's the story
Mahindra has reported a 24% increase in passenger vehicle sales for December 2023, selling 35,174 units compared to 28,445 in December 2022.
The company credits this growth to the surging demand for SUVs in India.
Veejay Nakra, President of the Automotive Division at Mahindra & Mahindra Ltd, stated, "In December, we sold a total of 35,174 SUVs, a healthy growth of 24% over last year."
Details
SUV sales drive Mahindra's growth between April-December
From April to December 2023, Mahindra sold 333,764 SUVs, a 29% jump from the same period in 2022 when it sold 257,849 units.
The company also revealed that it sold 333,777 passenger vehicles in India during this time, marking a 28% growth in comparison to the same period in 2022 when it retailed 259,858 vehicles.
Nakra acknowledged supply challenges on select parts and mentioned they are "working closely with our suppliers to mitigate these challenges going forward."
What Next?
Mahindra's SUV lineup and EV offerings
Mahindra's current SUV lineup in India features popular models such as Thar, Scorpio N, Scorpio Classic, XUV300, XUV700, and Bolero Neo.
Besides petrol and diesel-powered SUVs, the company also provides electric vehicles such as the XUV400, an all-electric iteration of the XUV300 compact SUV.
Competing with rivals like MG ZS EV and Tata Nexon, the Mahindra XUV400 contributes to the growing demand for eco-friendly transportation options in India.