Mahindra sees 5% dip in October wholesales, gets positive response for XUV700
Mahindra & Mahindra on Monday reported a 5 per cent year-on-year decline in total wholesales at 41,908 units last month as compared to total sales of 44,359 units in October of 2020. Mahindra has attributed the fall in sales to the supply chain issues related to global shortage of semiconductors but is focusing on managing the situation in the short term.
The company's total passenger vehicle sales in the domestic market stood at 20,130 units in October, up 8 per cent from 18,622 units sold in the year-ago period. Its commercial vehicle sales in the domestic market fell to 18,604 units last month as compared to 23,716 units in October of 2020.
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Mahindra's exports saw a rise of 57 per cent to 3,174 units last month as compared to 2,021 units in October of 2020.
However, the demand for the home-grown automaker's vehicles contiinues to witness a robust response across its product portfolio, especially for the newly launched XUV700 SUV. "We have received an unprecedented response for XUV700 and as per our commitment, we have commenced deliveries of the petrol variant to customers," the company's Automotive Division CEO, Veejay Nakra said.
Mahindra XUV700 SUV has already clocked more than 65,000 bookings after witnessing 25,000 bookings in just under one hour on the first day of opening of bookings of October 7. The carmaker had launched the XUV700 SUV last month at an introductory starting price of ₹11.99 lakh (ex showroom) which was later revised to ₹12.49 lakh (ex showroom).
With the deliveries of the petrol variant of the SUV already begun, Mahindra is aiming to deliver at least 14,000 XUV700s by January 14 next year. However, the carmaker has also issued a disclaimer saying ‘due to the global pandemic and its impact on supply chain, delivery dates may get delayed’.