M&M's Bolero, Scorpio drive its FY23 sales to highest ever
Mahindra and Mahindra sold 35,976 SUVs in the month of March and also clocked the highest ever annual sales of its SUVs at 356,961 units, with a growth of 60 percent.
Mahindra and Mahindra reported its auto sales numbers for March 2023 on Monday. The automaker’s total auto sales for the month of March grew percent and came at 66,091 units as compared to selling 56,643 units in the corresponding month a year ago. SUV sales drove the numbers M&M Auto.
The company sold 35,976 SUVs in the month of March and also clocked the highest ever annual sales of its SUVs at 356,961 units, with a growth of 60 percent.
The SUV parade in the year so far was led by Mahindra Scorpio. As per a regulatory filing by M&M the automaker sold a total of 8715 units of the car growing 188 percent from January 2022. Mahindra Bolero came second with 8574 units sold in January 2023. The third in the parade is XUV700 which had 5,787 units sold in the month of January this year.
“Our SUV business recorded all-time high numbers, with a growth of 31 percent in March 2023, while it recorded a 60 percent overall growth in Fy23, on the back of good demand across the portfolio,” said Veejay Nakra, President, Automotive Division, M&M Ltd.
In the Passenger Vehicle segment (which includes UVs, Cars and Vans) M&M sold 35,997 units in March 2023 registering a growth of 30 percent from March 2022. Further the segment recorded an annual sale of 359,253 vehicles (growth of 59 percent).
The Commercial Vehicle segment sales grew 12 percent YoY and came at 22,282 vehicles in March 2023 and annual sales of 248,576 vehicles (growth of 40 percent).
The Light Commercial Vehicles sales segment recorded its highest ever annual sales of 198,121 units in FY23.
Also read: March auto sales expectations: A mixed bag
“The Pik-up (LCV 2-3.5T) segment recorded the highest ever annual volume with a strong 43 percent growth, consolidating its leadership position. We would like to thank our associates, dealers, partners, suppliers, and customers, who have made this a remarkable year,” added Nakra.
Mahindra Truck and Bus Division also registered good performance with 1,469 units in March 2023 registering a growth of 77 percent from March 2022 and annual sale of 10,036 units (growth of 56 percent).
The total exports for March 2023 came at 2115 declining 33 percent from March 2022.
Shares of Mahindra and Mahindra are trading at Rs 1,167.40 up 0.76 percent from the previous close on the BSE.
(Edited by : Abhishek Jha)
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