Mahindra annual sales reach 5 lakh for the first time; the Scorpio N and Classic SUVs are poised to outsell the Bolero range.
For the first time in a calendar year, Mahindra has sold over 5 lakh SUVs. With the company revealing its December 2024 wholesale figures, annual sales for 2024 total 528,460 units, a strong year-on-year rise of 22 percent (CY2023: 433,172).
Mahindra Bolero wholesales at 93,850 units at end-November 2024. The XUV700, XUV 3XO and Thar series are placed third, fourth and fifth, respectively; the Scorpio twins account for 32 percent of total Jan-Nov 2024 despatches.
Sales in Mahindra models, 2024
Although the model-wise sales split for the Mahindra SUV range for December 2024 is not yet available, the wholesales figures for the first 11 months of the year provide a good sense of the main drivers of development. Currently the most sold model in the company is the Mahindra Scorpio, which comes as both Scorpio N and Scorpio Classic. With 154,169 units sold between January and November, the Scorpio twins contributed 32% of Mahindra’s first 11-month despatches overall.
With 93,850 units, the Bolero is the indiscutable and reliable workhorse in No. 2 place. The flagship XUV700 (83,390 units) and the XUV300/XUV 3XO (78,826 units) come next in order. With 69,354 units, the Thar-Thar Roxx combo ranks sixth best.
In the first 11 months of FY2024, the all-electric XUV400 has logged total dispatches of 7,188 units. Mahindra debuted two brand-new e-SUVs, the BE 6 and XEV 9E, in late November 2024. From January, the company’s EV sales will soar when the two zero-emission models—which have attracted a lot of customer reaction—enter a few chosen showrooms all around.
Mahindra’s overall 2024 sales
Mahindra followed up with a best-ever 54,504 units in the festival-oriented October (up 25 percent) after crossing 50,000-unit sales in a month for the first time in September 2024 and has recorded despatches of 46,222 units in November (up 16 percent). Though it’s the last month of the year when usually new vehicle purchasers want to postpone their purchase decisions to the new year, December 2024 sales were a more sedate 41,424 units, up 18 percent YoY.
With ten SUVs (Bolero, Bolero Neo, Bolero Neo+, Scorpio, Scorpio N, Scorpio Classic, Thar, Thar Roxx, XUV 3XO, XUV 400 and XUV 700), Mahindra is rather well positioned to capitalize on the explosive demand for this vehicle type in India’s very competitive UV market. Mahindra exported an extra 95,288 SUVs in CY2024 and exceeded the 5 lakh wholesales mark for the first time in a calendar year (5,28,460).
Regarding the fiscal year as well, the business is positioned to surpass its best-ever sales and reach the 500,000 mark for the first time in a fiscal year. Mahindra’s sales of 402,360 units in the first nine months of the current fiscal year (FY2025) to date already account for 87% of the SUV manufacturer’s record sales of 459,877 units in FY2024, with three months remaining to go. Right now, it is just 57,509 units from that target and 97,640 from the 5 lakh mark.