Mahindra & Mahindra sells 34,694 SUVs in April to record 57% growth

Mahindra & Mahindra has reported wholesales of 34,694 SUVs, which marks solid 57% year-on-year growth (April 2022: 22,168 units). Compared to March 2023 sales of 35,997, April 2023 numbers are down 3.61% month on month. The company also sold four sedans/vans last month, down 99% on April 2022’s 358 units.

M&M’s performance comes despite disruptions in the supply chain of crash sensors and airbag ECUs due to unavailability of semiconductors. According to Veejay Nakra, President, Automotive Division, M&M Ltd., “After a record-breaking year in FY2023, we continued our growth trend in SUVs by selling 34,694 units, registering a growth of 57% in April. We continue to keep a close watch on the dynamic supply chain situation, which is an industry phenomenon.”

In the electric vehicle segment, M&M has made robust gains on the retail front. As per Vahan data, the company has sold a total of 499 units in April 2023, which gives it a market share of 9.69% and puts it into second place behind EV market leader Tata Motors.

The company, with its SUV-laden portfolio, remains bullish on growth in the competitive Indian marketplace. Speaking to Autocar Professional last month, Veejay Ram Nakra, President of the automotive division at Mahindra & Mahindra, said that the impact of headwinds is going to be higher on cars as compared to SUVs. Despite the economic headwinds, M&M continues to have a high order backlog of 266,000 units with fresh bookings and customer enquiries holding steady with low cancellations.

M&M has already expanded its SUV manufacturing capacity from 29,000 units per month to 39,000 units by December 2022 and plans to further increase it to up to 49,000 units in the current financial year or 600,000 units per annum.

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