 |
| XUV7OO |
Mahindra SUVs like Scorpio, Thar, and XUV7OO Continue To Shine, 51000 Units Are Being Booked Every Month
Mahindra & Mahindra is set to increase production of its SUVs from 39,000 units per month at the end of FY2023 to around 49,000 units at the end of FY24. The company has been the second-largest SUV maker for the last five consecutive quarters and the number-one SUV maker in terms of revenue for the last several quarters. With increased production of its best-selling SUVs, the company's average billings have reached 38,000 units
Mahindra & Mahindra's sports utility vehicles (SUVs) like XYV7OO, Scorpio-N, Thar, etc. are in constant demand. A senior company official says that due to reduced semiconductor shortage and improvement in production levels, Mahindra is getting an average of 51,000 SUVs booked every month. Rajesh Jejurikar, executive director and CEO of Mahindra & Mahindra's auto and farm business, said after releasing its September quarter results for FY24 that the booking pipeline remains very strong as we have open bookings of 2,86,000 units till November 1. Are. The demand for Scorpio, Thar, and XUV7OO continues and we continue to receive 51,000 new bookings every month. Whereas the booking cancellation rate is below 8 percent.
Currently, M&M has open bookings for 10,000 units of XUV300 and XUV400, 70,000 units of XUV700, 76,000 units of Thar, 11,000 units of Bolero, and 1,19,000 units of Scorpio (including Classic). With the increase in production of its best-selling SUVs, the company's average billings have reached 38,000 units. According to Jejurikar, 'Our dealer stock in the September quarter (FY24) is in line with our 30-day norm. We are giving priority to customer sequence and increasing our output very rapidly. Even if the customer who has booked our model is not ready for funding, we will wait for him and try not to sell that vehicle to anyone else at that time.
Sales were reduced at the end of the month due to the steel shortage
He also indicated that the company is facing a month-end decline during September and October due to a steel shortage. Mahindra & Mahindra is set to increase production of its SUVs from 39,000 units per month at the end of FY2023 to around 49,000 units at the end of FY24.
Highest quarterly volume ever
M&M said it recorded its highest-ever quarterly volume in the September 2023 quarter at 2,12,000 units. This figure is 18 percent more on an annual basis. Jejurikar also said that the company has been the second-largest SUV maker for the last five consecutive quarters and the number-one SUV maker in terms of revenue for the last several quarters. He revealed that the company's revenue market share in the SUV segment increased by 90 basis points to 19.9 percent at the end of September.