Mahindra Sales Figures November 2024
Mahindra, a household name in the SUV segment, posted an intriguing set of sales figures for November 2024. With key models showcasing remarkable growth and others facing challenges, the brand continues to assert its dominance in India’s automotive landscape.
Key Highlights
- SUV Supremacy: The XUV 3OO and Thar emerged as the standout performers, with 64% and 50% YoY growth, respectively, reinforcing Mahindra’s stronghold in the SUV segment.
- Consistent Leaders: The Scorpio remained Mahindra’s highest seller, reflecting its enduring appeal among buyers.
- Electric Excellence: The XUV400, Mahindra’s flagship EV, recorded a 41% YoY growth, signaling its growing acceptance in the EV market.
- Bolero Decline: Surprisingly, the iconic Bolero experienced a 25% YoY decline, possibly impacted by shifting consumer preferences toward modern SUVs.
- Thar Shines Bright: With a 50% YoY growth and 10% MoM growth, the Thar continues to captivate enthusiasts and adventure-seekers alike.
Model-Wise Sales Breakdown
Top Performers
Scorpio
- November 2024 Sales: 12,704 units
- YoY Growth: 4%
- MoM Growth: -19%
The Scorpio remains a consistent crowd-puller, solidifying its reputation as a rugged and versatile SUV.
XUV700
- November 2024 Sales: 9,100 units
- YoY Growth: 26%
- MoM Growth: -13%
A perfect blend of luxury and performance, the XUV700 is increasingly appealing to urban buyers seeking sophistication and power.
Thar
- November 2024 Sales: 8,708 units
- YoY Growth: 50%
- MoM Growth: 10%
The Thar’s growing popularity showcases its unmatched appeal among lifestyle SUV enthusiasts.
XUV 3OO
- November 2024 Sales: 7,656 units
- YoY Growth: 64%
- MoM Growth: -20%
With a sharp increase in YoY sales, the XUV 3OO is carving out its space in the compact SUV segment.
Challenges and Declining Models
Bolero
- November 2024 Sales: 7,045 units
- YoY Growth: -25%
- MoM Growth: -28%
The once-reliable Bolero faced significant declines, indicating stiff competition from modern SUVs like the XUV700 and Scorpio.
Marazzo
- November 2024 Sales: 9 units
- YoY Growth: -82%
- MoM Growth: -76%
The Marazzo struggled with abysmally low sales, raising questions about its relevance in the current market.
Category-Wise Insights
SUV Dominance
Mahindra continues to dominate the SUV space with models like the Scorpio, Thar, XUV700, and XUV 3OO, showcasing its expertise in creating rugged, stylish, and feature-rich vehicles.
EV Growth
The XUV400, Mahindra’s electric SUV, recorded significant YoY growth, indicating a positive response from eco-conscious buyers.
MPV Challenges
With dismal sales for the Marazzo, Mahindra faces challenges in the MPV segment, which seems overshadowed by the growing popularity of SUVs.
Trends and Takeaways
- Lifestyle SUVs Are Booming: The strong performance of the Thar highlights the increasing demand for lifestyle-oriented vehicles.
- Electric Aspirations: The XUV400’s steady growth indicates that Mahindra is finding its footing in the EV space, though it still has a long way to go to dominate the segment.
- Shifting Preferences: Traditional models like the Bolero are seeing declines as buyers lean toward more modern and premium offerings.
Future Outlook for Mahindra
As the SUV market continues to grow, Mahindra’s comprehensive lineup positions it well for sustained success. However, addressing the decline in models like the Bolero and revitalizing the MPV segment will be crucial to broadening its appeal. Moreover, strengthening its EV portfolio could unlock new opportunities in India’s rapidly evolving automotive market.
| Make | Model | NOV’24 | Nov’23 | Growth | NOV’24 | OCT’24 | Growth |
| Mahindra | Scorpio | 12,704 | 12,185 | 4% | 12,704 | 15,677 | -19% |
| Mahindra | XUV700 | 9,100 | 7,221 | 26% | 9,100 | 10,435 | -13% |
| Mahindra | Thar | 8,708 | 5,810 | 50% | 8,708 | 7,944 | 10% |
| Mahindra | XUV 3XO | 7,656 | 4,673 | 64% | 7,656 | 9,562 | -20% |
| Mahindra | Bolero | 7,045 | 9,333 | -25% | 7,045 | 9,849 | -28% |
| Mahindra | XUV400 | 1,000 | 710 | 41% | 1,000 | 1,000 | 0% |
| Mahindra | Marazzo | 9 | 49 | -82% | 9 | 37 | -76% |
Conclusion: Mahindra’s November 2024 in Review
Mahindra’s performance in November 2024 reflects its dominance in the SUV space and growing momentum in the EV segment. With models like the Thar and XUV700 leading the charge, the brand continues to capture the imagination of Indian buyers. However, addressing challenges in legacy models like the Bolero and Marazzo will be key to maintaining its leadership in the market.