Mahindra Achieves Highest Revenue Market Share In SUV Space
- Mahindra achieved its best ever monthly sales in August 2022.
- The company recorded a YoY growth of 87 per cent last month.
- The Mahindra XUV700 and Scorpio received an overwhelming market response.
Mahindra has been on a roll with its new launches. Both the Mahindra XUV700 and the new Scorpio-N turned out to be a runaway success for the brand, attracting a year long waiting period. And even though there's a delay in deliveries, the company is pushing its limit to meet the demand. It recorded its best-ever monthly sales last month selling 29,852 units in August 2022 recording an uptick of 87 per cent compared to 15,973 units it sold a year ago when the industry was gripped by the semiconductor shortage. In fact, the increase in sales has helped Mahindra achieving the highest revenue market share in the SUV space.
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Speaking to Siddharth Vinayak Patankar, Editor-In-Chief, carandbike, Rajesh Jejurikar, Executive Director- Auto & Farm Sector, Mahindra & Mahindra said, "August was our highest ever month in SUVs and we did close to 30,000 numbers, which is a very close number to unvolume and a clear number one when it comes to revenue market share. So yes, demand is very strong but doesn't mean that supply is bad is bad. It's just that the supply is not able to cope up with a very strong demand."
Also Read: Review: Mahindra XUV400 Electric Compact SUV
Mahindra recorded 1 lakh bookings for the new Mahindra Scorpio-N within 30 minutes of the booking commencement on July 30, 2022. Additionally, the company received 25,000 bookings within one minute of booking commencement. The Mahindra XUV700 was launched in October 2021 and since then the company has been overwhelmed by the response the SUV received. It received more than 50,000 bookings in just 3 hours after the booking window was opened online. In-turn, it received more than 1 lakh bookings in just 4 months since the launch of the car.