Mahindra Achieves Highest Revenue Share in SUV segment: XUV700 & Scorpio-N major contributors

The XUV700 and new Scorpio-N from the house of Mahindra have gotten a resoundingly positive response from the market, and the rise in sales has enabled Mahindra to claim the greatest revenue market share in the SUV category.

Mahindra, with its recent product introductions, has been on a rampage. Both the new Scorpio-N and the Mahindra XUV700 were a resounding success for the company, drawing a year-long waiting list. Additionally, the company is working above its capacity to meet demand, despite the delay in deliveries. It sold 29,852 units in August 2022, up 87% from the 15,973 units it sold a year earlier when the market was ravaged by a lack of semiconductors, marking its best-ever monthly sales. In actuality, Mahindra's increased sales helped it win the greatest revenue market share in the SUV category.

"August was our highest ever month in SUVs and we did close to 30,000 numbers, which is a very great number and a clear number one when it comes to revenue market share. So yes, demand is very strong but that doesn't mean that supply is bad. It's just that the supply is not able to cope with a very strong demand", said Rajesh Jejurikar, Executive Director- Auto & Farm Sector, Mahindra & Mahindra.

• Mahindra registered its strongest and best-ever monthly sales in August 2022.
• A YoY growth of 87% has been achieved last month.
• Not to forget the overwhelming response to Mahindra XUV700 & Scorpio-N

Within 30 minutes of the booking period beginning on July 30, 2022, Mahindra recorded 1 lakh reservations for the brand-new Mahindra Scorpio-N. In addition, the business received 25,000 bookings in the first minute of accepting reservations. Since the Mahindra XUV700's premiere in October 2021, the firm has been blown away by the response the SUV has garnered. In barely 3 hours after the online booking window was made available, it had more than 50,000 reservations. After the car's unveiling, it attracted more than 1 lakh reservations in just 4 months.