Mahindra February 2025 Sales Performance: Mahindra & Mahindra, a dominant player in India’s SUV market, has reported its February 2025 sales figures, showcasing strong performances from models like Thar and XUV 3XO, while Scorpio and Bolero faced declines.
This analysis provides a detailed breakdown of year-over-year (Y-O-Y) and month-over-month (M-O-M) trends, offering key insights into Mahindra’s evolving market strategy.
Mahindra’s Overall Sales Highlights
- Scorpio and Bolero witnessed a Y-O-Y decline, suggesting shifting customer preferences within the SUV lineup.
- Thar and XUV 3XO recorded impressive Y-O-Y growth, reflecting strong consumer demand.
- XUV 700 saw steady growth, maintaining its premium SUV appeal.
- Electric models, including the XUV 400, continued to struggle, highlighting challenges in Mahindra’s EV segment.
SUV Segment: Growth for Thar & XUV 3XO, Decline for Scorpio & Bolero
Mahindra remains an SUV powerhouse, but not all models performed equally.
Top Performers:
- Thar: The lifestyle off-roader saw a remarkable 59% Y-O-Y surge, growing from 5,812 units in February 2024 to 9,248 units in February 2025. Additionally, it recorded a 22% M-O-M increase, making it one of the best-selling Mahindra models this month.
- XUV 3XO: The subcompact SUV registered the highest Y-O-Y growth at 86%, with sales increasing from 4,218 units to 7,861 units. However, a 7% M-O-M dip indicates a slight cooling off from its strong January performance.
- XUV 700: Mahindra’s premium SUV continued to perform well, with a 14% Y-O-Y increase, rising from 6,546 to 7,468 units. However, an 11% M-O-M drop suggests temporary demand fluctuations.
Underperformers:
- Scorpio: Despite its strong brand equity, the Scorpio saw a 10% Y-O-Y decline, dropping from 15,051 units in February 2024 to 13,618 units in February 2025. The M-O-M decline of 12% signals potential supply constraints or shifting demand.
- Bolero: Another Mahindra staple, Bolero’s sales declined 14% Y-O-Y, falling from 10,113 to 8,690 units. However, the M-O-M trend remained stable, suggesting a steady, albeit reduced, demand base.
Observations:
- Thar’s increasing sales reflect its growing appeal among lifestyle SUV buyers.
- The XUV 3XO’s strong performance indicates high demand in the compact SUV segment.
- Scorpio and Bolero declines suggest that newer Mahindra SUVs may be cannibalizing sales.
Mahindra’s Electric Vehicles (EVs): Struggles Continue
Mahindra has been aggressively pushing into the EV space, but its current lineup is struggling.
- XUV 400: Sales dropped 47% Y-O-Y, from 610 units in February 2024 to 322 units in February 2025. However, the 12% M-O-M increase suggests some signs of recovery.
- BE6 & XE 9e: These models have just entered the market, with the XE 9e registering 2,205 units.
Observations:
- Mahindra’s EV lineup is yet to gain significant traction, lagging behind competitors like Tata Motors.
- New EV models (BE6, XE 9e) could help Mahindra strengthen its presence in the segment.
MPVs: Marazzo Struggles to Stay Relevant
- Marazzo’s sales collapsed by 67% Y-O-Y, with only 17 units sold in February 2025 compared to 51 units in February 2024.
Observations:
- The Marazzo’s declining sales indicate that demand for traditional MPVs is shrinking.
- Mahindra may need to reposition or discontinue the Marazzo in favor of more popular SUV models.
Final Takeaways: What’s Next for Mahindra?
- Thar and XUV 3XO are driving growth, reinforcing Mahindra’s SUV dominance.
- Scorpio and Bolero are seeing demand pressures, requiring strategic adjustments.
- EV sales remain a challenge, but the introduction of new models like XE 9e could change the game.
As India’s SUV segment continues to expand, Mahindra must leverage its strengths while addressing its weaknesses to maintain its market leadership.