Mahindra November 2025 Sales Analysis: Scorpio Leads as SUVs Face Post-Festive Cooling

Mahindra’s November 2025 sales numbers tell a familiar yet revealing story. After a blockbuster festive October, the brand saw a natural month-on-month slowdown across most of its portfolio. Yet, beneath the surface, Mahindra’s core strengths remain intact — rugged SUVs, strong rural appeal, and a steadily evolving electric vehicle strategy.

Despite MoM declines, several models posted healthy year-on-year growth, reinforcing Mahindra’s long-term momentum in India’s SUV-dominated market.

Mahindra November 2025 Sales Analysis

Model	Nov’25 Sales	Nov’24 Sales	YoY Growth (%)	Oct’25 Sales	MoM Growth (%)
Scorpio	15,616	12,704	23%	17,880	-13%
XUV 3XO	10,601	7,656	38%	12,237	-13%
Bolero	10,521	7,045	49%	14,343	-27%
Thar	10,234	8,708	18%	12,029	-15%
XUV700	6,176	9,100	-32%	10,139	-39%
XEV 9e	1,423	0	—	2,708	-47%
BE.6	1,314	0	—	2,134	-38%
XUV400	404	1,000	-60%	152	166%
Marazzo	47	9	422%	2	2250%

Big Picture: Strong YoY Growth, Expected MoM Correction

November traditionally brings a cooling-off period after festive buying peaks. Mahindra’s data reflects this clearly — nearly every model saw a MoM dip, but most retained strong YoY growth.

This indicates:

Demand hasn’t disappeared — it has normalized
October pulled forward many bookings
Waiting periods and supply scheduling influenced November dispatches

Scorpio: Still Mahindra’s Unshakeable Backbone

The Mahindra Scorpio remained the brand’s top seller with 15,616 units, delivering:

23% YoY growth
13% MoM decline

The dip is expected after October’s festive surge, but Scorpio’s fundamentals remain rock solid.

Why Scorpio continues to dominate:

Strong rural and semi-urban loyalty
Dual appeal of Scorpio Classic and Scorpio-N
Powerful diesel engines and rugged image

Even in a “soft” month, Scorpio continues to outperform most competitors.

XUV 3XO: Strong YoY Momentum, Temporary MoM Dip

The XUV 3XO sold 10,601 units, recording:

38% YoY growth
13% MoM decline

The numbers suggest:

The product is fundamentally strong
October demand spillover has normalized
Buyers remain attracted to its feature list and safety tech

With ADAS, turbo engines, and competitive pricing, the 3XO has firmly established itself as Mahindra’s urban growth engine.

Bolero: Rural Powerhouse Takes a Breather

The Bolero posted 10,521 units, showing:

49% YoY growth
27% MoM decline

October’s unusually high numbers were driven by:

Festive rural purchases
Bulk institutional demand
Clearing of pending orders

November reflects a return to realistic monthly volumes — but Bolero’s relevance in rural India remains unquestioned.

Thar: Lifestyle Icon Holds Its Ground

The Mahindra Thar delivered 10,234 units, marking:

18% YoY growth
15% MoM decline

The Thar continues to enjoy:

Strong aspirational value
Urban youth demand
Off-road enthusiast community backing

The MoM dip is more about supply pacing than demand weakness.

XUV700: The Month’s Biggest Concern

The XUV700 recorded 6,176 units, reflecting:

32% YoY decline
39% MoM drop

This is the sharpest correction in Mahindra’s core lineup.

Key reasons:

Buyers waiting for updates or facelifts
Rising competition from Safari, Harrier, and hybrid SUVs
Shift of premium buyers toward EVs and lifestyle SUVs

Despite the decline, XUV700 remains a benchmark product — but it clearly needs a refresh to regain momentum.

Electric Vehicles: Early Growth, Short-Term Volatility

XEV 9e: Cooling After a Strong Debut

The XEV 9e sold 1,423 units, down:

47% MoM

This drop comes after a strong October debut and reflects:

Supply rationalization
Initial curiosity-driven purchases settling
Gradual adoption curve typical of new EVs

The product still shows promise in metro markets.

BE.6: Momentum Slows, Interest Remains

The BE.6 posted 1,314 units, with:

38% MoM decline

While volumes dipped, the BE.6 continues to:

Attract tech-forward buyers
Strengthen Mahindra’s EV brand perception
Serve as a bridge to future Born-Electric launches

XUV400: MoM Recovery, YoY Weakness

The XUV400 delivered 404 units, showing:

166% MoM growth
60% YoY decline

The spike is largely inventory-led and offer-driven. Long term, the XUV400 struggles against newer EVs with better range and interiors.

Marazzo: Statistical Spike, Not a Revival

The Marazzo recorded 47 units, up sharply YoY and MoM — but from an extremely low base.

This does not indicate a comeback. Instead, it reflects:

Dealer dispatch clearing
Occasional institutional deliveries

The Marazzo is effectively at the end of its lifecycle.

Key Trends from Mahindra’s November 2025 Performance

1. SUVs Remain Mahindra’s Core Strength

Scorpio, Thar, Bolero, and 3XO together account for the majority of volumes.

2. Post-Festive Normalization Is Clear

October pulled forward demand; November shows realistic monthly consumption.

3. Premium SUV Segment Needs Refresh

XUV700’s decline highlights the need for feature updates and new powertrains.

4. EV Strategy Is Progressing — Slowly

Mahindra’s EVs are gaining awareness, but adoption remains gradual and metro-focused.

5. Rural Markets Continue to Support Volumes

Bolero and Scorpio still anchor Mahindra’s rural dominance.

Strategic Insights for Mahindra

1. Refresh the XUV700 Urgently

ADAS updates, hybrid options, and interior upgrades could reignite interest.

2. Scale EV Infrastructure & Awareness

Charging partnerships and ownership programs will be key for XEV and BE models.

3. Maintain Supply Balance for High-Demand Models

Scorpio and Thar demand remains high — supply pacing is crucial.

4. Leverage Rural Strength More Aggressively

Bolero and Scorpio Classic should continue to be marketed heavily beyond metros.

5. Prepare for Next-Gen SUVs

Mahindra’s future growth depends on timely launches and lifecycle updates.

Market Outlook: December & Early 2026

Looking ahead:

Scorpio and Thar will remain stable
XUV 3XO should recover MoM
EV volumes will fluctuate before stabilizing
XUV700 needs intervention
Rural demand will stay strong into the new year

Mahindra enters the final month of 2025 with a strong foundation, even if short-term numbers look softer.

Conclusion

The Mahindra November 2025 sales data reflects a classic post-festive cooldown rather than a demand slowdown. Strong YoY growth across most SUVs confirms the brand’s enduring appeal, while MoM declines highlight the seasonal nature of India’s auto market.

With iconic products like the Scorpio and Thar still delivering, and a growing EV roadmap taking shape, Mahindra remains firmly positioned as one of India’s most powerful SUV brands. The next phase will depend on how quickly it refreshes premium offerings and accelerates its electric transition.