Sustained, strong demand for most of its SUVs sees M&M hit 50,000-unit monthly sales for the third time in FY2025. While the Scorpio twins, 3XO, XUV700 and Bolero are the main growth drivers, the Thar Roxx five-door has revved up volumes. With 453,019 SUVs sold in the first 10 months of this fiscal, M&M is now just 6,858 units shy of surpassing its record sales of 459,877 units in FY2024.
02 Feb 2025 | 7410 Views | By Ajit Dalvi
Mahindra & Mahindra, which is surfing a wave of surging demand for its SUVs, has reported wholesales of 50,659 SUVs in January 2025, which is a year-on-year increase of 18% (January 2024: 43,068 units).
January 2025 is the third month in the current fiscal year that M&M has registered ...
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Mahindra & Mahindra, which is surfing a wave of surging demand for its SUVs, has reported wholesales of 50,659 SUVs in January 2025, which is a year-on-year increase of 18% (January 2024: 43,068 units).
January 2025 is the third month in the current fiscal year that M&M has registered over 50,000-unit sales in a month. The company clocked 50,000 monthly sales for the first time in September 2024 (51,062 units, up 24%) and followed it up best-ever 54,504 units in the festival-laden October (up 25%).
As the 10-month wholesales data table for FY2025 (shown below) reveals, the SUV manufacturer has recorded robust double-digit growth right through the fiscal. Cumulative sales for the April 2024-January 2025 period at 453,019 units are up a strong 20% YoY (April 2023-January 2024: 376,845 units). This also means that M&M is now just 6,858 units shy of going past its record sales of 459,877 vehicles in FY2024 and will do so in the first few days of this month.
In India’s highly competitive UV market, M&M, which has 10 SUVs (Bolero, Bolero Neo, Bolero Neo+, Scorpio N, Scorpio Classic, Thar, Thar Roxx, XUV3XO, XUV400 and XUV700), is extremely well placed to capitalise on the surging demand for this vehicle type.
While the model-wise sales split for the Mahindra SUV portfolio for January 2025 is not yet available, the wholesales numbers for the first 9 months of the fiscal (April-December 2024) give a good indication of the key growth drivers.
The Mahindra Scorpio, available as the Scorpio N and Scorpio Classic, is currently the best-selling model for the company. At 121,869 units sold between April and December 2024, the Scorpio twins accounted for 32% of M&M’s total dispatches of 402,360 SUVs in the first 9 months of FY2025.
The XUV300 / 3XO is ranked No. 2 amongst the Mahindra SUVs. Launched in April this year at an aggressive Rs 749,000, the XUV 3XO – the facelifted version of the XUV300 – has given a fresh charge to sales and clocked total sales of 77,536 units in the April-December 2024 period, which gives it a 19% share of M&M’s SUV sales in the first 9 months of FY2025.
In No. 3 position is the flagship XUV700 (70,364 units) which has a 17.5% share of M&M’s dispatches. The XUV700 is followed by the indefatigable sturdy workhorse Bolero (Bolero and Bolero Neo Plus) with 69,347 units and a 17% share. The fifth bestseller for M&M is the Thar-Thar Roxx combine (59,093 units). The new five-door Thar Roxx has helped accelerate sales since its launch on August 14 with aggressive pricing ranging from Rs 12.99 lakh through to Rs 20.49 lakh. Given its market potential as more of a mainstream model than the three-door Thar, the Thar Roxx would have understandably begun taking away sales from its sibling.
Meanwhile, the all-electric XUV400 has clocked total dispatches of 3,995 units in the first 9 months of FY2025. End-November 2024 saw Mahindra launch two brand-new e-SUVs in the form of the BE 6 and XEV 9E. The company’s EV sales will take off from February 2025, when the two zero-emission models, which have drawn a strong customer response, enter select showrooms across the country.
What is also helping the company’s sales drive is the sharper focus on safety. In mid-November, the Thar Roxx, XUV 3XO and XUV400 each scored a top five-star rating from the Bharat New Car Assessment Programme (Bharat-NCAP). These models have now joined Mahindra’s growing portfolio of five-star-rated vehicles, which includes the XUV700 and Scorpio-N.
M&M DRIVES TOWARDS RECORD 550,000 SUV SALES IN FY2025
Mahindra & Mahindra, which surpassed the 500,000 or half-a-million annual sales milestone for the first time in CY2024, is set to better that score in the current fiscal. The SUV maker, which has averaged monthly sales of 46,101 units for the last three months (November 2024-January 2025), is likely to do even better in the coming months. The rollout of the two new born-electric EVs – the BE 6 and XEV 9e – whose bookings commence on February 14, will further accelerate demand for Mahindra.
M&M is benefiting from its substantially ramped-up production at its factories to feed its dealers across India and ensure stock is available for customers. Given the strong demand for most of its SUVs, the company has outlined plans to further increase output. In June 2024, M&M had confirmed that it plans to further increase production capacity to 64,000 units per annum or 768,000 units per annum by end-FY2025 and 72,000 units a month / 864,000 units per annum by end-2026.
This capacity expansion programme seems timely considering that, like the rest of the Indian automobile industry, M&M will also benefit from the substantial relief in income tax proposed in the Union Budget 2025-26. With zero income tax up to Rs 12 lakh, which translates into additional money available for vehicle purchase among other goods and services, expect the company with the largest SUV portfolio to capture fresh demand.
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