Auto Sales February 2023: Mahindra Auto Reports 8 Per Cent Sales Growth
By Carandbike Team
Published on March 2, 2023
- Mahindra reports sales of 30,358 utility vehicles in the month
- Company says it is facing supply issues with crash sensors and airbag ECUs
- Mahindra posts 60 per cent growth in sales in FY2023 till end-February 2023
Mahindra Auto reported its monthly sales numbers for February 2023 posting a 8 per cent cumulative growth. The company retailed 58,801 units in the month, up from 54,455 units in the same period last year. The company also posted a 10 per cent growth year-on-year in passenger vehicle sales with 30,358 units sold – up from 27,663 units.
Speaking on the company’s performance, Veejay Nakra, President, Automotive Division, M&M Ltd. said, “We continue our trend of selling more than 30,000 SUVs per month and February saw a growth of 10% in the segment and an overall growth of 8%. Our recent launches (Thar RWD and XUV400) have received a very positive response and we see good demand across our portfolio as well.”
Utility vehicle sales in the month stood at 30,221 units – up 10 per cent from 27,551 units in the same month a year ago. Mahindra also reported sales of 137 units in the cars and vans sub-segment.
Mahindra said that it achieved these sales figures despite supply chain disruptions in the industry. The carmaker identified supply chain issues in the procurement of crash sensors and airbag ECUs manufacturing which was affected by a lack of semiconductors.
Year-to-date figures for the financial year meanwhile posted a stronger growth picture with cumulative passenger vehicle sales up 63 per cent from 1,98,256 to 3,23,256 units. Utility vehicles saw sales climb 64 per cent in FY2023 to 3,20,985 units. The carmaker had reported UV sales of 1,96,302 units in the same period in FY2022.
In the commercial vehicle segments, light commercial vehicles below 2 tonnes saw sales decline 38 per cent in February 2023. Sales in the segment amounted to 2,515 units – down from 4,048 units in February 2022. Sales of LCVs in the 2 – 3.5 tonne segment meanwhile saw a 12 per cent uptick at 17,241 units while LCV greater than 3.5 tonne and MHCV sales were up 58 per cent over a low base of 687 units. Three-wheeler sales meanwhile witnessed a 40 per cent growth at 5,350 units retailed in the month.
As in the passenger vehicle segment, year-to-date figures for FY2023 showed much stronger cumulative growth across segments in the CV space. The sub-2-tonne LCV segment posted a 30 per cent growth rising from 28,533 units in the March 2021 to Feb 2022 window to 37,034 units in the same period in the current financial year. Similarly, the LCV 2-3.5 tonne segment saw sales grow 47 per cent to 1,80,693 units. The 3.5 tonne and up LCV and MHCV segment posted a 53 per cent growth, while three-wheeler sales were up 103 per cent in the current financial year at 52,823 units.
Exports for the month of February stood at 2,250 units – down 20 per cent year-on-year. Year-to-date figures meanwhile showed a marginal 2 per cent growth with 29,992 units sold in FY2023 till end-February as against 29,350 units in the same period last year.
Last Updated on March 2, 2023
Great Deals on Used CarsView All Used Cars
- 49,360 km
- 2,322 km
- 42,000 km
- 50,000 km
- 67,000 km
- 56,662 km
- 42,950 km
- 70,457 km
- 48,000 km
- 16,523 km
9 hours ago
The price hike is in relation to increased commodity prices and the rising costs attributed to inflation
13 hours ago
Along with the Eliminator 450, Kawasaki is likely to launch the updated W175 modern classic motorcycle at 2023 India Bike Week in Goa.
15 hours ago
The ‘Reown’ pre-owned motorcycles business initiative will be available in Delhi, Mumbai, Kolkata, Bengaluru, and Chennai, to begin with.
15 hours ago
The new colour scheme was first showcased in June this year and was restricted to the 1.5-litre variant but is now available with the 1.0-litre Topline variant as well
16 hours ago
Powered by a 292cc motor, it will be sold in China and exported to European markets
17 hours ago
MS Dhoni was recently spotted driving his new Mercedes-AMG G63 but what really caught everyone’s attention was the special number plate
1 day ago
The ministry aims to introduce free medical treatment for injured accident victims in the next three to four months
1 day ago
Greaves Electric Mobility has collaborated with Kedia Organisation and is setting up its first dealership in Teku, Kathmandu
1 day ago
With the launch slated for 2024, the Lamborghini Urus PHEV was spotted testing at the gruelling Nurburgring race track.
1 day ago
The Urban SUV concept is the first in a line of 6 EVs, which the company says will be revealed toward the first half of 2024
4 days ago
Mahindra reported a sales growth as compared to November 2022 though domestic SUV sales were down compared to October 2023.
5 days ago
The facelifted XUV300 gets a redesigned front fascia with new light clusters, enclosed grille and redesigned bumper
13 days ago
The Mahindra XUV.e8 is expected to share several components with the XUV700. The new spy shots reveal more details about the upcoming offering
22 days ago
Valeo will invest in localising the production of these electric powertrains in Pune, Maharashtra near Mahindra’s plant
25 days ago
The Mahindra Scorpio family accounts for the highest number of pending orders at present with close to 1.20 lakh open bookings.