Mahindra experienced a significant rise in sales in March 2024, reaching 40,631 units, marking a 13 percent year-on-year (YoY) growth compared to 35,976 units sold in March 2023. However, there was a 4 percent month-on-month (MoM) decline from the 42,401 units sold in February 2024. Sales are expected to receive a boost with the upcoming launch of the updated XUV300, set to be released as XUV3XO later this month.
In the top 10 car sales list for March 2024, SUVs dominated, with 5 out of the 10 cars being SUVs. Among them, Mahindra contributed with one SUV model. Let's delve into Mahindra's sales performance for the past month, focusing on the breakdown of their models.
Scorpio
The Scorpio, comprising the new-gen Scorpio N and the Scorpio Classic, emerged as the company's top-selling model. It achieved a remarkable 72 percent YoY growth, selling 15,151 units in March 2024, up from 8,788 units in March 2023. There was a marginal 1 percent MoM growth from the 15,051 units sold in February 2024.
Bolero
The Bolero secured the second position with 10,347 units sold in March 2024, marking an 8 percent YoY and 2 percent MoM growth. In March 2023, the Bolero saw sales of 9,546 units, and in February 2024, it recorded sales of 10,113 units.
XUV700
The Mahindra XUV700 remained a popular choice among buyers, witnessing a 29 percent YoY increase in sales to 6,611 units in March 2024, up from 5,107 units in March 2023. However, there was only a marginal 1 percent MoM growth compared to the 6,546 units sold in February 2024.
Thar
The Mahindra Thar, another highly sought-after SUV, reported a 21 percent YoY and 4 percent MoM growth in March 2024, selling 6,049 units. The Thar is expected to expand its lineup with the introduction of a 5-door counterpart named 'Mahindra Thar Armada' on August 15, 2024, coinciding with India's 77th Independence Day.
XUV300, XUV400, Marazzo
Further down the sales list were the XUV300, XUV400, and Marazzo, each experiencing significant declines in sales. The XUV300 saw a 60 percent YoY and 51 percent MoM decrease to 2,072 units in March 2024, compared to 5,128 units in March 2023 and 4,218 units in February 2024. Similarly, XUV400 sales plummeted by 82 percent YoY and 43 percent MoM to just 350 units in March 2024, down from 1,909 units in March 2023 and 610 units in February 2024. Marazzo sales also declined by 90 percent YoY to 51 units in March 2024, with MoM sales remaining flat at 51 units compared to February 2024.