Thar, Scorpio N, XUV700 help Mahindra to post 13% YoY growth in March

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  • Mahindra witnessed a 13 per cent YoY growth in March 2024 and 28 per cent sales surge in the last financial year.
Mahindra witnessed a 13 per cent YoY growth in March 2024 and 28 per cent sales surge in the last financial year. (HT Auto/Sabyasachi Dasgupta)

Mahindra & Mahindra Ltd., on Monday, announced that the homegrown auto manufacturer registered a 13 per cent sales growth in March this year, over the same month a year ago. The auto major claims to have sold a total of 40,631 units of passenger vehicles in March 2024, up from 35,997 units registered in the corresponding month a year ago.

Mahindra also stated that the OEM sold a total of 459,877 units of passenger vehicles in the last financial year, concluded on 31st March. This recorded a 28 per cent year-on-year (YoY) sales growth over the 359,253 units it recorded in the previous financial year.

Watch: 2022 Mahindra Scorpio-N: First Drive Review

The Indian automaker has been known for a strong portfolio in the country’s utility vehicle segment with models such as the Scorpio N, Scorpio Classic, Bolero Neo, XUV300, XUV700 etc. Owing to the rapidly rising demand for high-riding utility vehicles across the country, Mahindra posted this upbeat sales performance in March this year.

Speaking on the sales numbers the auto company posted last month and in the last financial year, Veejay Nakra, President of the Automotive Division at Mahindra & Mahindra Ltd., said that the OEM ended the FY24 on a positive note. “We ended the financial year F24 on a positive note with Mahindra PikUps crossing two lakh units during the year, which is the highest ever for any commercial vehicle in the load segment in India. In March, we sold a total of 40,631 SUVs, with a growth of 13 per cent and 68,413 total vehicles, a four per cent growth over last year,” he added.

Mahindra is now working on the XUV300 facelift, which is expected to launch soon. The automaker is aiming to boost its market share in the country’s rapidly bulging SUV space. Also, the carmaker is working on a five-door version of Mahindra Thar as well, which is slated to break cover on August 15 this year.

First Published Date: 01 Apr 2024, 13:51 PM IST

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