Mahindra and Mahindra clocks 35% jump in sales in March
Mahindra and Mahindra has registered an increase of about 35 percent in sales in March. The Indian carmaker sold 54,643 units of vehicles, both passenger and commercial, last month. Mahindra had sold 40,403 units in March last year. Mahindra sold 27,603 passenger vehicles last month, which is slightly lower than what it sold in February this year. In March last year, Mahindra had sold 16,700 units.
"We continued our growth trajectory in March 2022 with overall sales of 54,643 vehicles, a growth of 35 per cent. Demand continues to be strong, even as we remain watchful of the global supply chain and take appropriate action, as required," Veejay Nakra, CEO (Automotive Division) at Mahindra and Mahindra, said in a statement today.
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Mahindra's SUVs like the XUV700 and Thar continue to drive up its sales. Both cars enjoy a solid demand among SUV buyers even if the Thar is still a more rugged option while the XUV700 is aimed at larger families with its seven-seat option. The demand for the SUV body type has been steadily rising in the country. While offering both petrol and diesel engine options as well as manual and automatic transmission choices are among the reasons for Thar's success, the solid good looks of XUV700, along with a feature-loaded cabin and ADAS system, have driven the three-row SUV's demands soaring. The carmaker is also expected to drive in the new Scorpio, one of its most popular models, later this year.
However, Mahindra and Mahindra continue to struggle with deadlines as waiting period for its flagship SUVs like XUV700 and Thar extending beyond a year. The ongoing semiconductor shortage has meant production remains a source of concern for the company.
Mahindra and Mahindra's exports have also gone up significantly. Last month, the carmaker exported 3,160 units, up by 49 per cent from 2,126 units in March 2021. During this period, Mahindra also sold 23,880 commercial vehicles in the domestic market against 21,577 units in the year-ago period.