In the extremely competitive Indian automotive market, Mahindra ranked as the 4th top-selling automaker in January 2024, closely trailing Maruti Suzuki, Hyundai, and Tata Motors. The renowned utility vehicle leader witnessed remarkable growth, with a 30% year-on-year (YoY) increase in sales, totaling 43,068 units sold last month compared to 33,040 units in January 2023. Additionally, month-on-month (MoM) sales showed a notable 22% improvement, rising from 35,171 units in December 2023.
Highlights of Mahindra’s Sales Performance in January 2024
The Mahindra Scorpio N Series stood out as the top-selling model, with sales reaching 14,293 units in January 2024, marking an impressive 64% YoY growth from 8,715 units in the same month the previous year. Moreover, the month witnessed a 26% MoM surge, climbing from 11,355 units in December 2023. Notably, this figure included sales of the Scorpio N variant, which achieved a milestone of 1 lakh unit sales since its launch in July 2022.
Securing the second position was the Mahindra Bolero, experiencing a robust 16% YoY growth, with sales totaling 9,964 units in January 2024 compared to 8,574 units in January 2023. MoM sales also demonstrated a significant improvement of 25%, rising from 7,995 units in December 2023. Mahindra XUV700 recorded commendable YoY and MoM growth of 25% and 23%, respectively, with 7,206 units sold in January 2024. Compared to 5,787 units in January 2023 and 5,881 units in December 2023, this represented an increase.
Mahindra Thar witnessed heightened demand, achieving a remarkable 37% YoY growth, with 6,059 units sold in January 2024, up from 4,410 units in January 2023. This milestone marked the highest monthly sales reported by the Thar since its launch in 2020. MoM sales also improved by 5%, reaching 5,793 units in December 2023. It's exciting to know that Mahindra plans to introduce a 5-door Thar later this year.
Other Mahindra Models and Their Performance
Further down the sales list, the Mahindra XUV300 experienced an 11% YoY decline, with sales totaling 4,817 units in January 2024 compared to 5,390 units in January 2023. However, the model compensated with a 36% MoM growth, rising from 3,550 units in December 2023.
Due to the recent release of the facelifted model, the XUV400 saw an amazing 30% MoM gain, selling 697 units last month compared to 535 units in December 2023. In contrast, the Marazzo witnessed lackluster sales, plummeting by 80% to just 32 units in January 2024. This decline was starkly evident when compared to the 164 units sold in January 2023 and the 48% MoM drop from 62 units in December 2023.
Mahindra’s diverse lineup featuring popular models like the Scorpio, Bolero, XUV700, and Thar, propelled the company to a commendable 30% YoY sales growth in January 2024, solidifying its position as a major player in the Indian automotive landscape.