XUV700, Thar SUVs continue to power Mahindra in November. Check out key numbers
- The Mahindra bet on SUVs continues to bring in rewards for the homegrown manufacturer.
Continuing to bask in the glory that its lineup of SUVs are bringing in, Mahindra & Mahindra on Friday announced its total wholesales in the month of November rose to 39,981 units for utility vehicles, an increase of 32 per cent over figures from November of 2022. Almost all of the credit is squarely placed on models such as XUV700, Thar and Scorpio-N.
While XUV700 and Scorpio-N are relatively new models - launched in 2021 and 2022, respectively - the Thar was radically updated in 2020 and has become a runaway hit despite the wait for its five-door version continuing. November saw increased traction for these vehicles, also because of the festive period in the month. Overall, the company's total wholesales rose by 21 per cent to 70,576 units last month even though overall exports took a fall from 3,122 units in November of 2022 to 1,816 units last month.
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While not entirely out of supply-related convolutions, Mahindra maintains that it remains determined to bring down wait times further. "We continue our growth trend, backed by strong demand for our SUV portfolio...While we saw a healthy festive season, we faced supply challenges on select parts during the month. We are keeping a close watch and taking appropriate steps to mitigate the challenges," M&M President Automotive Division Veejay Nakra said.
But while the Indian manufacturer remains optimistic about its outlook for December and the new year that follows, it reportedly plans to hike prices of all its model products from January onwards. Several mass-market as well as luxury car manufacturers have already confirmed their respective plans to hike prices.