Mahindra & Mahindra emerged as the 4th best-selling automaker in February 2024 with the Scorpio and Bolero contributing significantly to its sales. The company reported a YoY growth but faced a slight decline in sales compared to January 2024. Mahindra Scorpio and Bolero were the standout performers with both models surpassing the 10,000 unit mark in sales.
Mahindra Scorpio
The Scorpio including both the Scorpio N and Scorpio Classic variants, led the sales charts for Mahindra in February 2024, with 15,051 units sold. This marked a remarkable 117 percent YoY growth from February 2023 and a 5 percent MoM increase from January 2024. The Scorpio N, launched in July 2022, has now crossed the 1 lakh sales milestone.
Mahindra Bolero/Neo
The Bolero, known for its passenger conveniences and versatile seating arrangements, also saw improved sales, with 10,113 units sold in February 2024. This represented a 3 percent YoY growth and a marginal 1 percent MoM increase showcasing its consistent popularity among buyers.
Mahindra XUV700
The XUV700 continued to gain traction in the market, with sales reaching 6,546 units in February 2024. This marked a significant 45.31 percent growth compared to the same period last year reinforcing its status as a strong contender in the mid-size SUV segment. The updated XUV700, introduced in January 2024, received positive feedback for its new features and Napoli Black color option.
Mahindra Thar
The Thar, renowned for its rugged appeal and off-road capabilities, experienced a sales uptick, with 5,812 units sold in February 2024. This represented a commendable 16.15 percent YoY growth highlighting the sustained demand for adventure-oriented vehicles in India. The 2024 Mahindra Thar Earth Edition was also launched last month, adding to the model's appeal.
Other Models
The Mahindra XUV300 posted a modest 11 percent YoY growth, with 4,218 units sold in February 2024. However, its MoM sales declined by 12 percent, possibly due to anticipation of the upcoming XUV300 facelift which is expected to launch soon with several feature updates and an ADAS suite.
Mahindra's first electric SUV, the XUV400, recorded sales of 610 units in February 2024, indicating a growing acceptance of electric mobility solutions. However, the Marazzo MPV witnessed a sharp decline in sales, with only 51 units sold compared to 171 units in February 2023, signaling a need for strategic interventions to revive its market presence.
Mahindra's strong performance in February 2024 reflects the company's commitment to offering a diverse range of vehicles that cater to various customer preferences. The success of models like the Scorpio, Bolero, XUV700, and Thar underscores Mahindra's ability to meet the evolving needs of the Indian automotive market. As the industry continues to witness dynamic changes, Mahindra's focus on innovation and customer-centric offerings positions it well for future growth.