Mahindra surpasses 5L SUV sales, eyes 6L target
What's the story
Mahindra & Mahindra has crossed the half-a-million mark in SUV sales once again this calendar year. The company sold 518,321 units between January and October this year, an impressive 18% increase from the same period last year. This puts M&M well on its way to achieve its target of selling over 600,000 SUVs by the end of this year.
Sales drivers
New models fuel M&M's SUV sales growth
M&M's growth in SUV sales can be attributed to the success of its new models. The Scorpio twins (Classic and N) sold 102,514 units with a 6% YoY growth. However, their share of total SUV sales has reduced from 30.81% last year to 27.76% this year. This is because other models like Thar Roxx and two Born Electric SUVs (BE 6 and XEV 9e) have also contributed significantly to the company's overall sales figures.
Market performance
Thar brand sales surge, Bolero and XUV 3XO perform well
The Thar brand, which includes the three-door Thar and five-door Thar Roxx, has seen a massive jump in sales. Together they sold 71,351 units (up 67% YoY), accounting for nearly one-fifth of M&M's total sales. The new facelifted three-door Thar was launched on October 3. Meanwhile, the XUV 3XO compact SUV sold 56,637 units (down 9% YoY) with a share of 15% in M&M's total sales.
Electric impact
New electric SUVs and Bolero bolster M&M's sales
M&M's two new zero-emission SUVs, BE 6 and XEV 9e, launched earlier this year, have also contributed to the company's growth. Their 10-month calendar-year sales in India stand at 36,104 units. In October alone these two Born Electric SUVs recorded their best-ever monthly sales of 4,842 units. The company also launched a new Bolero model last month which saw factory dispatches of over 14,000 units, the highest monthly wholesales for the SUV in recent times.