Auto Sales July 2022: Mahindra Registers 33% YoY Growth In PV Sales

Mahindra has announced that it saw a 33 per cent growth in domestic passenger vehicles (PV) sales in the month of July 2022 year-on-year. The carmaker clocked in total PV sales of 28,053 in the month as against 21,046 in the same period last year. SUV sales too were up by 34 per cent from 20,797 in July 2021 to 27,854 units in July 2022. Sales of cars and vans though dropped 20 per cent year-on-year, as Mahindra only sold 199 units in July 2022 as compared to 249 units in the same time last year. Mahindra also registered a 4.4 per cent month-on-month growth in sales, as it sold 26,880 passenger vehicles in the month of May 2022.

Mahindra says it has seen robust demand for its SUVs across segments from the Bolero to the XUV700

Commenting on the performance, 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 at 32%. The supply chain situation continues to remain dynamic, and we are monitoring the situation closely."

Mahindra's three wheeler segment grew 103% year-on-year.

Shifting to Mahindra’s commercial vehicles arm, the company recorded an overall year-on-year growth of 18.6 per cent, as it sold a total of 20,946 LCVs as opposed to 17,666 units in July 2021. Sales of sub 2 tonne light commercial vehicles (LCV) dropped 3 per cent from 3,793 units in July 2021 to 3,693 units in July 2022, while sales of LCVs between 2 tonnes to 3.5 tonnes grew 22 per cent, going from 13,445 to 16,445. Sales of LCVs above 3.5 tonne and medium and heavy commercial vehicle segments grew by a notable 89 per cent year-on-year, as Mahindra sold 808 units. Three wheeler sales meanwhile more than doubled, growing 103 per cent to 4,351 units.

The Mahindra Scorpio-N bagged over 1 lakh bookings within the first 30 minutes of bookings opening.

In terms of exports, Mahindra exported 2,798 units in the month of July 2022, marking a 32 per cent increase to the figures of July 2021. Mahindra also recently launched the Scorpio-N, and the SUV garnered as many as 1 lakh bookings in the first 30 minutes of bookings opening. The deliveries for the SUV are scheduled to begin in September 2022, and Mahindra plans to deliver 20,000 units of the SUV before the end of this year.