Mahindra Almost Removed Hyundai From Second Spot in Monthly Sales

Mahindra is the only car manufacturer with monthly positive sales performance for the last few months. The company’s SUV lineup is so strong and popular that thousands of bookings are pending. People have to wait a lot and Mahindra is working hard to produce more and more cars so that they can reduce the waiting period. So you can say that the only one which is pulling Mahindra back is themselves. The popular models like ScorpioN, Scorpio Classic, Mahindra Thar, XUV700 and XUV3XO are in huge demand. 

Mahindra's utility vehicle sales increased by 24% year over year (YoY) in September 2024, to 51,062 units from 41,267 units in September 2023. Additionally, the business announced a 21% year-to-date (YTD) increase in sales, with 2,60,210 units sold between April and September of 2024.

On October 3, 2024, reservations for the much awaited Thar Roxx will open, which should increase sales in the future. But since no cars or vans were sold between April and September 2024, Mahindra's vehicle and van segment had no sales for September 2024, representing a 100% YTD decrease.

If Mahindra performs like this it will be the second most selling car brand in India taking Hyundai’s second spot in the sales chart. 

Mahindra PV YoY and YTD Sales Performance in September 2024

September 2024 PV Sales: Mahindra sold 51,062 utility vehicles, a 24% YoY increase over the 41,267 units sold in September 2023.
Month-on-Month Growth: Sales also increased by 17.99% compared to 43,277 units in August 2024.
Year-to-Date (YTD) Sales: In the April-September 2024 period, Mahindra sold 2,60,210 units, a 21% increase over the 2,14,904 units sold in the same period last year.

The recently launched Thar Roxx 5-door 4X4 is expected to further fuel sales, as it comes with best-in-segment and premium features. With bookings starting on October 3, 2024, Mahindra is optimistic about future sales growth.

Mahindra Commercial Vehicle (CV) Sales Performance

Mahindra's commercial vehicle (CV) segment, covering a range of models across sub-2T to above 3.5T light commercial vehicles (LCVs) and three-wheelers (including electric vehicles), experienced mixed results in September 2024.

LCV < 2T: Sales declined by 13% YoY, with 3,444 units sold in September 2024 compared to 3,941 units in September 2023. YTD sales also dropped by 7%, with 19,192 units sold between April and September 2024, down from 20,629 units in the same period of 2023.

LCV 2T-3.5T: This segment saw a 3% YoY decline in sales, with 16,988 units sold in September 2024, down from 17,438 units in September 2023. YTD sales decreased by 9%, from 97,706 units in 2023 to 88,760 units in 2024.

LCV > 3.5T and MHCV: Sales in this segment grew by 25% YoY, with 3,274 units sold in September 2024, compared to 2,618 units in September 2023. YTD sales surged by 67%, with 19,085 units sold in 2024, up from 11,413 units in the same period of 2023.

Three-Wheelers (including electric vehicles): This category saw a 27% YoY growth, with 10,044 units sold in September 2024, compared to 7,921 units in September 2023. YTD sales increased by 4%, reaching 40,614 units, up from 39,226 units in the April-September 2023 period.