Mahindra reported an 80% growth in YoY vehicle sales. The total vehicle sales in the month of February 2022 was 27,663 units while the sales in the same period last month was 15,391 units. The manufacturer also recorded a 41% increase in the year to date demand from 1,40,516 units sold last year to 1,98,292 units sold in the same period this year.
Moreover, the homegrown automaker saw a 79% increase in the YoY sales of Utility vehicles (UV). Total UV sales in the month of February 2022 was 27,551 units when compared to 15,390 units sold in February 2021. The sturdy growth also resulted in a 41% YTD sales increase from 1,38,887 units sold in April to February 2021 while the sales during the same period in 2022 were 1,96,302 units. Current demand for SUVs like XUV700 and the new Thar. In fact, both vehicles are having waiting periods of 19 months and 12 months respectively.
Mahindra Sales: What we know.
The ongoing chip shortage has had a great impact on vehicle production. This has also resulted in an increase in the waiting period for the high-end trims. Mahindra’s current achievement is surely an occasion to celebrate. The company has also announced 3 upcoming EVs. This new addition will further boost the sales of Mahindra’s vehicles in our country.
Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd. happily talked about the achievement over the year, “With an overall sale of 54,455 vehicles, we have achieved a growth of 89 percent in February 2022. All segments showed robust growth including SUVs at 79%, which registered the highest ever monthly volume. We expect demand to continue to remain strong as the Covid situation eases further. We continue to closely monitor the semiconductor-related parts supply and take corrective action as appropriate.” Mahindra’s sales are expected to only shoot to the higher side from now on with new launches and higher sales.