Posting it's highest ever monthly sales, M&M was just 39 units behind Hyundai, for the number 2 spot. M&M clocked sales of 51,062 units, whereas Hyundai reported 51,101 units.
01 Oct 2024 | 25135 Views | By Mayank Dhingra and Ketan Thakkar
Mahindra & Mahindra (M&M), the second-largest SUV maker in India, has edged ahead of its homegrown rival Tata Motors for the first time in more than half a decade, led by strong demand for its SUVs, in September 2024.
The SUV specialist, which produces models like the Scorpio, XUV700, ...
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Mahindra & Mahindra (M&M), the second-largest SUV maker in India, has edged ahead of its homegrown rival Tata Motors for the first time in more than half a decade, led by strong demand for its SUVs, in September 2024.
The SUV specialist, which produces models like the Scorpio, XUV700, Thar and Bolero, among others, clocked sales of 51,062 units last month, registering a year-on-year growth of 24% (September 2023: 41,267). The company exported 1,528 Made-in-India vehicles.
On the other hand, Tata Motors’ September sales were pegged at 41,063 units, registering an 8% YoY decline, compared to year-ago volumes of 44,809 units. This makes M&M overtake its arch rival by a notable margin of almost 10,000 units – 9,999 to be precise – to emerge as the No. 3 player in India’s passenger vehicle market, behind Maruti Suzuki (144,962 units) and Hyundai Motor India (51,101 units).
While the Bolero, Scorpio, Scorpio-N, and the XUV700 continue to be the popular models from the carmaker’s stable, M&M expanded its portfolio by launching the five-door version of its off-road-centric Thar SUV, in a new avatar – Thar Roxx – on August 15. The company now plans to commence bookings for its latest offering from October 3. The revamped XUV 3XO compact SUV, launched earlier this year in May, is also registering a robust demand from buyers looking for a feature-rich package at a value-for-money price tag, starting at Rs 7.49 lakh.
According to Veejay Nakra, President of the automotive division of Mahindra & Mahindra, “We sold 51,062 SUVs in September, recording a growth of 24%, and 87,839 vehicles in total, registering a 16% year-on-year growth. As we enter the festive season, we will open the bookings for the Thar Roxx on October 3.”
Tata Motors too expanded its portfolio by venturing into the mid-size SUV segment with the Curvv SUV coupe that was launched on September 2. The company is aiming at a podium position within the midsize SUV category with its latest offering that comes with an entire gamut of powertrain options, including a petrol, diesel, as well as an all-electric drivetrain.
The prime reason for the decline in Tata Motors' sales is being attributed to slow consumer demand and seasonal factors. According to Shailesh Chandra, MD, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, "In Q2 FY25, the PV industry saw more than 5% decline in retails compared to Q2 FY24, driven by slow consumer demand and seasonal factors. In contrast, the industry offtake was significantly higher than registrations in anticipation of a strong start to the festive season, resulting in a continued build-up of channel stock. Registrations picked up pace towards the end of the month which augurs well for the festive period ahead."
"Tata Motors registered wholesales of 130,753 units in Q2 FY25, as we readjusted wholesales to lower-than-expected retails, to keep channel inventory under control. The Curvv has received an excellent response and our market-facing interventions have been well received, generating a strong pipeline," Chandra added in a statement.