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Mahindra’s overall sales rise by 31%

Riding high on the success of its latest launch the Scorpio-N, the country’s largest SUV manufacturer Mahindra & Mahindra Limited has showcased an astronomical growth in sales. The Indian automaker recently shared its sales tally for last month in which it revealed that it achieved an overall growth of 31 percent. M&M reported that 56,148 automobiles were sold in total for the month of July 2022.

Mahindra’s overall sales rise by 31%

In July 2022, Anand Mahindra led utility vehicle manufacturer reported sales increase across all categories. It revealed that the T company’s passenger car sector increased from 21,046 units sold in July 2021 to 28,053 units in July 2022, a 33.29 percent increase and a volume increase of 7,007 was seen by the carmaker. Additionally, MoM sales rose by 4.36 percent compared to the 26,880 units sold in June 2022. In all, the company sold 56,148 units in July 2022.

Total utility vehicle sales for the company increased by 34 percent YoY to 27,854 units from 20,797 units sold in July 2021, when it came to passenger cars. Additionally, it represented a YTD increase of 63% from the 63,367 units sold in the April–July 2021 period to 1,03,274 units sold in the same period of 2022. While YTD sales climbed by 24% from 881 units sold in the period of April through July 2021 to 1,089 units in the same period of 2022, car and van sales decreased by 20% YoY to 199 units from 249 units sold in July 2022.

Commenting on the achievement of the outstanding sales, Veejay Nakra, President, Automotive Division, M&M Ltd. said, “We continued our strong performance with sales of 27,854 SUVs in July, registering a growth of 34% fueled by robust demand for all our brands, including XUV700, Thar, Bolero, and XUV300. Our commercial vehicles also registered growth, and exports were up by 32%. The supply chain situation continues to remain dynamic, and we are monitoring the situation closely.”

Currently, Mahindra is also sitting on a ton of orders for its highly sought-after vehicles like the Thar, XUV700, Bolero and XUV300 as well. Also, the newly launched Scorpio-N has also proved itself to be a huge crowd pleaser and the demand has exceeded the expectations of the brand.

Mahindra’s overall sales rise by 31%

Mahindra, following the commencement of reservations for the Scorpio-N, revealed that it recorded over 1,00,000 bookings for the model within 30 minutes of the booking commencement at 11:00 am yesterday. Mahindra further stated that the result of this overwhelming response was a total ex-showroom value of ~₹18,000 crores / ~USD 2.3 billion.

Bookings for the Scorpio-N commenced online on Mahindra’s official website, and the website was able to manage the flood of a large number of waiting clients for the most part. The company did, however, admit that there was a temporary issue with the payment gateway supplier. The firm also claimed in its official statement yesterday that it ensures its clients that their time stamps prior to payments are properly recorded on the booking site. As a result, each client will be assigned to the appropriate order sequence, and the first 25,000 clients will receive special introductory rates based on this order.

 




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