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Mahindra continues to showcase very strong sales figures in India with a very consistent YoY sales growth in the country.
That being said, the month of November was not so different for the Indian automaker as the company managed to sell more than 30,000 units of its cars.
Diving into details, Mahindra managed to sell 30,392 units of its passenger vehicles in November 2022, resulting in a YoY sales growth of 56.2 per cent as the company managed to sell 10,934 more units compared to what it managed to sell during November 2021.
However, MoM sales figures were down by almost 6 per cent as the company managed to sell 32,298 units of its cars in the month of October 2022, which is 1,906 units more than what the company had managed to sell during the previous month.
Dissecting the numbers, out of the 30,392 units of its passenger cars sold in India, 30,238 units were UVs. Furthermore, during the same time frame last year, Mahindra managed to sell just 19,384 units of its UVs in the country. This results in a 56 per cent increase in YoY sales figures for the company's UVs.
It is also worth mentioning that the company's YTD sales figures for the FY23 stands at 2,31,413 units in total, whereas the YTD sales figures for the FY22 stands at 1,32,943 units. This means Mahindra has witnessed a tremendous growth of 74 per cent.
Looking back, we can see that the new launches have helped Mahindra to increase its sales figures by a significant margin and improve its overall market share in India. Furthermore, the increased production has also reduced waiting periods for in-demand vehicles such as Mahindra XUV700, Mahindra Scorpio N, Mahindra Thar (2nd Gen), etc.
Thoughts About Mahindra's Sales Performance
Though the MoM sales figures are down marginally, Mahindra has witnessed a very strong growth in terms of YoY sales figures. Moreover, with further improvement in the production figures, we expect Mahindra to sell more vehicles in the coming months as well. Furthermore, the new launches have definitely worked very well for the automaker in terms of attracting more customers and improving market share.