Mahindra sales analysis in August 2024 – Scorpio, XUV700, 3XO,

Mahindra is the only automaker among the top four to see sales growth in August 2024 – thanks to its range of SUVs like Scorpio, Thar, XUV, Bolero

In August 2024, Mahindra’s sales have improved significantly both year-on-year and month-on-month, a feat that most automakers could not achieve as most of them have seen a sharp drop in demand. Mahindra is the fourth-largest automaker in terms of sales after Maruti, Hyundai and Tata Motors, all three leading automakers have seen a decline in year-on-year sales.

Mahindra sales spin-off August 2024

Mahindra has sold 43,277 units till August 2024. This is a 16% year-on-year growth compared to the 37,270 units sold in August 2023. The monthly sales have also increased by 4% compared to the 41,623 units sold in July 2024.

The Mahindra Scorpio was the company’s best-selling model last month. Sales grew 39% year-on-year to 13,787 units, up from 9,898 units in August 2023. Scorpio/N sales also grew 13% month-on-month from 12,237 units in July 2024. The Mahindra Scorpio/N was also the sixth best-selling car in India last month, beating the Maruti Swift, Baleno and Fronx by significant numbers.

XUV700 sales also saw positive year-on-year and month-on-month growth, with sales rising to 9,007 units last month. This represents a year-on-year growth of 38% compared to 6,512 units sold in the same period last year. Month-on-month, it also showed a 16% increase over the 7,769 units sold in July 2024.

XUV300/3XO sales grew 80% year-on-year to 9,000 units. This is a sharp rise from 4,992 units sold in August 2023, while monthly sales fell 10% as 10,000 units were sold in July 2024. The XUV3XO is lauded for its multiple segment-first features and competes closely with the likes of Tata Nexon, Kia Sonet, Hyundai Venue, Maruti Brezza and others.

Mahindra Bolero, Thar, Marazzo sales fell YoY and MoM

Coming in fourth place is the Mahindra Bolero. Bolero sales declined significantly both YoY and MoM to 6,494 units in August 2024. This is a 29% YoY decline and 6% MoM decline compared to 9,092 units sold in August 2023 and 6,930 units sold in July 2024. Mahindra Thar demand also declined YoY and MoM to 4,268 units. Sales declined 28% YoY compared to 5,951 units sold in August 2023. Sales declined 3% MoM compared to 4,385 units sold in July 2024.

While the sales of Mahindra XUV400 declined by 8% YoY to 713 units in the past month, the model registered a whopping 148% MoM growth, much higher than the 288 units sold in July 2024. Mahindra may soon launch the XUV400 EV, called the XUV4XO, which was spied testing recently. The XUV4XO EV will borrow most of the features from the XUV3XO and will compete with the Tata Nexon EV and upcoming EVs from Maruti and Hyundai.

Mahindra Marazzo ranked last with only 8 units sold last month. This was a year-on-year decline of 83% compared to 47 units sold in August 2023. The monthly sales also suffered a setback of 43% compared to 14 units sold in July 2024.