Mahindra Sales June 2023 – XUV700, Scorpio, Bolero, Thar

Even as Mahindra sold a total of 32,585 units of SUVs, its car and van sales dipped 99 percent to just 3 units in June 2023

Mahindra and Mahindra has seen a 21 percent YoY growth in its passenger vehicle segment in June 2023 to 32,588 units, up from 26,880 units sold in June 2022. MoM sales dipped marginally by 0.90 percent when compared to 32,883 units sold in May 2023.

Mahindra PV Sales June 2023

In the passenger vehicle segment, the company has seen outstanding demand for its SUV lineup. However, sales of cars and vans dipped significantly. Total sales in the segment stood at 32,588 units in June 2023, while on a YTD basis, sales grew by 31 percent to 1,00,172 in the FY24 period when compared to 76,310 units sold in the same period a year ago.

Utility vehicle sales in the past month rose 22 percent to 35,585 units, up 22 percent over 26,620 units sold in June 2022. YTD sales also saw a 33 percent growth to 1,00,162 units from 75,420 units sold in FY 2022. Car and van sales fell 99 percent to just 3 units in June 2023 from 260 units sold in June 2022 while YTD sales also fell 99 percent to 10 units in FY 2024 period from 890 units sold in FY 2023.

In the Q2 2023 period as well, Mahindra PV sales stood at 1,00,165 units relating to a 32.74 percent YoY growth and a 0.94 percent growth from sales in Q1 2023. H1 2023 sales of passenger vehicles also improved by 32.70 percent to 1,99,402 units, up from 1,50,269 units sold in H1 2022, thus relating to a 49,133 unit volume growth.

Mahindra CV and 3W Sales June 2023

Sales of LCVs in the <2T category dipped 10 percent in June 2023 to 3,063 units from 3,410 units sold in June 2022. In FY24 sales fell by 2 percent to 9,392 units from 9,567 units sold in FY23. Bolero MaXX Pik-up launched in April 2023 has boosted sales in the segment.

LCV sales in the 2T-3.5T segment performed better with a 2 percent YoY growth to 16,735 units sold in June 2023 from 16,405 units sold in June 2022. FY24 sales improved by 2 percent to 48,540 units from 47,462 units sold in the same period last year.

Maximum YoY growth was reported for LCVs in the >3.5T segment and MHCVs that stood at 1,161 units in the past month, up 88 percent from 616 units sold in June 2022 while FY24 sales were up 70 percent to 3,320 units.

3W sales, that also included electric 3W, improved by 59 percent YoY and 67 percent on YTD basis to 6,377 units and 17,780 units respectively. Exports suffered a setback with a 10 percent YoY decline to 2,505 units from 2,777 units shipped in June 2022 while FY24 exports stood at 6,934 units relating to an 8 percent de-growth from 7,508 units sold in FY23.