Mahindra has revealed that it saw a 59% growth in passenger vehicles (PV) sales in the month of June 2022 year-on-year. The carmaker clocking in total PV sales of 26,880 in the month as against 16,913 in the same period last year. SUV sales too were up 60% from 16,636 in June 2021 to 26,620 units. Sales of cars and vans though slid 6% year on year. While sales grew year-on-year, the company had a more or less flat growth month on month. Overall PV sales slid a minor 0.09% over May 2022 with SUV sales just 12 units short.
The carmaker though said that sales of its SUVs in Q1 FY2023 was its highest yet for the second consecutive quarter. Sales for SUVs in the April-June 2022 window stood at 75,420, up 77% from 42,570 units from the same period in 2021.
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, “Q1FY23 is our second consecutive highest SUV sales quarter. This has been made possible due to continued robust demand for all our brands including XUV700, Thar, Bolero and XUV300. We sold 26,620 SUVs in June and overall, 54,096 vehicles, registering a growth of 64%. XUV700 achieved yet another milestone of being awarded the coveted Global NCAP ‘Safer Choice’ Award for being the safest car in India. This accolade is only available to automakers achieving the highest levels of safety for vehicles sold in India. We had a blockbuster launch of the Scorpio-N and it has generated tremendous buzz and anticipation.”
Speaking on the company’s outlook for the rest of the year, Nakra said that the supply chain situation remained dynamic and that the company was closely monitoring the situation.
Mahindra's three wheeler segment grew a notable 434% year-on-year though against a low base of June 2021.
Shifting to Mahindra’s commercial vehicles arm, the company recorded year-on-year growth across all segments. Sales of sub 2 tonne light commercial vehicles (LCV) grew 28% while sales of LCVs up to 3.5 tonnes grew a more notable 69%. Sales of LCVs above 3.5 tonne and medium and heavy commercial vehicle segments grew by 78% year on year. Three wheeler sales meanwhile grew a significant 434% though against a low base of just 750 units in June 2021. Sales for CVs also posted gains in Q1 FY 2023 year-on-year across all segments.
