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Mahindra & Mahindra sells 36,205 SUVs in July 2023, logs 30% growth on-year; ‘Record-breaking month,’ says automaker

Mahindra & Mahindra sells 36,205 SUVs in July 2023, logs 30% growth on-year; ‘Record-breaking month,’ says automaker

Auto sales in July: The company said that its overall auto sales for the month of July stood at 66,124 vehicles. 

Nakra added that around 1 lakh units of XUV700 have been sold in a record time of 20 months. Nakra added that around 1 lakh units of XUV700 have been sold in a record time of 20 months.
SUMMARY
  • M&M Automotive Division President Veejay Nakra said that July has been a record-breaking month for the automaker
  • He added that around 1 lakh units of XUV700 have been sold in a record time of 20 months
  • M&M’s tractors also saw an 11 per cent growth in sales in India

July 2023 auto sales data: Automaker Mahindra & Mahindra (M&M) sold 36,205 SUVs in July this year, a 30 per cent rise from 27,584 SUVs sold in July last year. The automaker sold 1,36,367 units of SUVs in FY24 so far, a 32 per cent rise compared to 1,03,274 units sold in FY23 last year. In the utility vehicles, the automaker has logged overall sales of 37,519 units including exports.

Domestic sales of M&M’s commercial vehicles stood at 20,898 units. While 6,481 units of three-wheelers including electric three-wheelers were sold in the month of July, Mahindra exported 2,540 units of vehicles in the same period. Mahindra said that its overall auto sales for the month of July stood at 66,124 vehicles, as per a company release.

Commenting on the sales figures, M&M Automotive Division President Veejay Nakra said that July has been a record-breaking month for the automaker. He added that around 1 lakh units of XUV700 have been sold in a record time of 20 months. Nakra added that Scorpio achieved its highest-ever monthly sales in July ever since its launch.

“It has been a record-breaking month for us. We are excited to clock the highest-ever SUV domestic sales of 36,205 in a month. The XUV700 tribe grew to 1 lakh strong, in a record time of 20 months. Also in July, the Scorpio brand achieved the highest sales in a month since its launch. We continue to receive robust demand for our key brands. We will keep a close watch on the availability of semi-conductors and select parts to ensure sustained scaleup,” Nakra said.

Not only Mahindra & Mahindra’s passenger cars, commercial vehicles and SUVs have logged a rise in monthly sales, the company’s tractors too saw an 11 per cent growth in sales in India. M&M sold 24,168 units of tractors in July 2023 versus 21,684 units during July 2022.

Total tractor sales including exports stood at 25,175 units during last month compared to 23,307 units in the same period last year. M&M exported 1,007 units of commercial vehicles for July. M&M Farm Equipment Sector President Hemant Sikka attributed the spurt in sales to the rise in aggregate sowing of kharif crops and decreased input costs for farmers.

“Aggregate sowing of Kharif crops is now ahead of last year, with most key crops including paddy and oil seeds have recovered, though pulses is still lagging in sowing. Terms of trade are now in favour of farmers, with continued decrease in input costs. The sentiments are positive in rural economy, and this is likely to support demand in the coming months,” Sikka said.

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Published on: Aug 01, 2023, 3:59 PM IST
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Mahindra & Mahindra Ltd
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