Mahindra & Mahindra Ltd. have reported its sales figures for January 2024 posting a 31 per cent growth in SUV sales in the domestic market. Mahindra reported SUV sales of 43,068 units in the Indian market - up from 32,915 units in the same month last year. Cumulative SUV sales, including exports, for the month stood at 43,866 units. The company has reported overall sales of 73,944 vehicles (including commercial vehicles), marking a 15 per cent increase, including exports. Last month the automaker reported a 6 per cent growth with 60,188 vehicles sold globally.
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Focusing on the passenger vehicle segment, while SUV sales were up 31 per cent in the month, total passenger vehicle sales were up 30 per cent compared to January 2022. This was on account of sales in the Vans and Cars segment dropping to zero from 125 units last year.
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The year-to-date comparison (YTD) of the brand’s sales in the financial year showed a 29 per cent increase in sales, totaling 3,76,845 units in the passenger vehicle segment. SUV sales were up by 30 per cent in the April to January window to 3,76,832 units while sales of cars and vans slid to a meager 13 units from 2,134 in the last financial year.
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In the commercial vehicle and three-wheeler segments, Mahindra showcased a diverse range of performance. Notably, the light commercial vehicle (LCV) in the sub-2 tonne segment witnessed a 51 per cent growth climbing from 2675 units to 4039 units, whereas the LCV weighing between 2 tons– 3.5tons experienced a 5 per cent decrease from 18,101 units to 17,116 units. The MHCV and LCV over 3.5-tonne category showed a 145 per cent growth in January climbing to 2,326 units from 948 units last year. The 3 Wheelers segment, including EV, witnessed a 14 per cent dip in sales year-on-year.
On the international front, the automaker has reported a total export figure of 1,746 vehicles for January 2024, reflecting a 42 per cent decline. The YTD comparison shows a 22 per cent decrease, with a cumulative total of 21,551 vehicles exported.
Veejay Nakra, President, Automotive Division, M&M Ltd., “In January, we sold a total of 43,068 SUVs, a healthy 31% growth and total 73,944 vehicle, a 15% growth over last year. We began the year with the launch of 2024 XUV700, with a whole host of new features, that elevates comfort, tech and sophistication to the next level.”
Written by: RONIT AGARWAL
