Mahindra has over 2.2 lakh order backlog for SUVs, highest for Scorpio, Thar

Mahindra announced its results for the fourth quarter of FY2024 and the company revealed it has over 2.20 lakh pending orders waiting to be fulfilled. One of the leaders in the UV segment, the company’s pending orders include about 86,000 units for the Scorpio and Scorpio N, followed by around 59,000 units for the Thar. The XUV700 had over 16,000 open bookings while the Bolero range had another 10,000 open bookings as of May 1, 2024.

The company’s third most popular model with pending orders is the newly launched Mahindra XUV 3XO, which received 50,000 bookings within an hour after order books opened on May 15, 2024. The last few months saw Mahindra ramp up production in a bid to reduce the order backlog, bringing the figure down from 2.26 lakh units in February 2024 to 1.70 lakh units by May 1.

The new XUV 3XO further added to Mahindra's pending bookings having received 50,000 orders within an hour after the booking window opened on May 15

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The new XUV 3XO further added to Mahindra's pending bookings having received 50,000 orders within an hour after the booking window opened on May 15

Mahindra further revealed that it received about 48,000 bookings every month, while the billings amounted to about 42,000 units per month. The automaker also revealed that it retails about 7,000 units of the Thar every month, followed by around 8,000 units of the XUV700. The retails about 9,500 units of the Bolero lineup every month, while its biggest seller is the Scorpio range at 17,000 units per month.

Mahindra also revealed that its volumes grew by 14 per cent year-on-year in Q4 FY2024 with 2.15 lakh units sold. The company’s total sales during the previous fiscal grew by 18 per cent year-on-year at 8.25 lakh units.

Also Watch: Mahindra XUV 3XO review: XUV300 reborn with more zeal and style?

Announcing its plans for FY2025, Mahindra will increase its SUV production capacity by 5,000 units per month, up from 49,000 units per month at the end of FY2024. The company is anticipating more demand from the upcoming Thar 5-door, new XUV 3XO and the like to drive growth. It will also increase the production capacity for electric vehicles by 10,000 units by the end of the current financial year. The company also announced plans to bring nine ICE SUVs and seven electric vehicles in the passenger vehicle segment by 2030.

Check out Upcoming Cars in India 2024, Best SUVs in India.