February 2024 Mahindra Car Sales Analysis - YoY, MoM Change, 6-Month Trend | V3Cars

In this February 2024 Mahindra car sales analysis, we’ll look at the car sales of Mahindra for the previous month. We’ll also compare the YoY and MoM change to find out which Mahindra cars’ sales improved and which ones declined. Lastly, the table with monthly sales for the last 6 months will give you an idea about the 6-month sales trend of all Mahindra cars.

Mahindra Car Sales

February 2024 - Mahindra Car Sales Figures - YoY Change

  • Top Gainers:
    • The Scorpio-N + Classic shows the most significant growth with an impressive 116.56% increase in sales compared to February 2023, indicating a strong market demand for this model.
    • The XUV700 also exhibits a notable increase of 45.31%, suggesting that it continues to be a popular choice among consumers.
    • The Thar and XUV300 have shown steady growth with 16.15% and 10.74% increases respectively, which might reflect their solid position in the market.
  • Top Losers:
    • The Marazzo has seen a substantial decline in sales with a -70.18% change, which could indicate a decrease in consumer interest or increased competition in its segment.
  • New Entry:
    • The XUV400 is a new entrant with 610 units sold in February 2024. Since there’s no previous year data, it’s not possible to calculate the YoY change, but its initial figures can be seen as the starting point for its market performance.
  • Stable Performers:
    • The Bolero + Neo has a marginal growth of 3.38%, which suggests it maintains a consistent buyer base without significant fluctuations.

Overall, the data indicates a healthy demand for SUVs in Mahindra’s portfolio, with the Scorpio-N + Classic leading the growth. The Marazzo’s sharp decline could be a concern and may require strategic adjustments. The introduction of the XUV400 could be a strategic move to capture a new segment of the market. It will be interesting to see how it performs in the coming months.

MAHINDRA CAR SALES - FEBRUARY 2024

YOY CHANGE

Rank

Model

Segment

Body-Type

Feb 2024

Feb 2023

Change

%Change

Trend

1

Scorpio N + Classic

D1

SUV

15,051

6,950

8,101

116.56%

2

Bolero + Neo

B2

SUV

10,113

9,782

331

3.38%

3

XUV700

D1

SUV

6,546

4,505

2,041

45.31%

4

Thar

B2

SUV

5,812

5,004

808

16.15%

5

XUV300

B2

SUV

4,218

3,809

409

10.74%

6

XUV400

B2

SUV

610

-

-

-

-

7

Marazzo

C2

MPV

51

171

-120

-70.18%

February 2024 - Mahindra Car Sales Figures - MoM Change

  • Top Gainers:
    • The Marazzo shows a significant increase of 59.38%, which is the highest percentage change among all models. This suggests a recovery or a seasonal spike in demand for this MPV.
    • The Scorpio-N + Classic continues to perform well with a 5.3% increase, reinforcing its strong market presence.
  • Top Losers:
    • The XUV300 and XUV400 have experienced the largest declines at -12.44% and -12.48% respectively. This could indicate a shift in consumer preference or increased competition.
    • The XUV700 also saw a decrease of -9.16%, which might suggest a market saturation or the introduction of newer models affecting its sales.
  • Stable Performers:
    • The Bolero + Neo has a modest growth of 1.5%, maintaining a stable performance in the market.

It’s important to note that while the Scorpio-N + Classic and Marazzo are the top gainers in terms of percentage change, the Scorpio-N + Classic’s actual volume increase is much higher, reflecting its strong market demand. The declines in the XUV series could be a point of concern for Mahindra, potentially indicating the need for strategic marketing or product updates. Overall, the SUV segment remains a strong performer for Mahindra, with the majority of their models in this category showing positive trends in the longer term. The MoM data provides valuable insights into short-term market dynamics and can help inform strategies for the upcoming months.

MAHINDRA CAR SALES - FEBRUARY 2024

MOM CHANGE

Rank

Model

Segment

Body-Type

Feb 2024

Jan 2024

Change

%Change

Trend

1

Scorpio N + Classic

D1

SUV

15,051

14,293

758

5.3%

2

Bolero + Neo

B2

SUV

10,113

9,964

149

1.5%

3

XUV700

D1

SUV

6,546

7,206

-660

-9.16%

4

Thar

B2

SUV

5,812

6,059

-247

-4.08%

5

XUV300

B2

SUV

4,218

4,817

-599

-12.44%

6

XUV400

B2

SUV

610

697

-87

-12.48%

7

Marazzo

C2

MPV

51

32

19

59.38%

Mahindra — 6-Month Sales Trend (September 2023 - February 2024)

MAHINDRA CARS 6 MONTH SALES TREND

SEPTEMBER 2023 - FEBRUARY 2024

Model

Segment

Body-Type

Sep 2023

Oct 2023

Nov 2023

Dec 2023

Jan 2024

Feb 2024

6 Month Avg

Scorpio N + Classic

D1

SUV

11,846

12,185

11,355

14,293

15,051

13,051

12,964

Bolero + Neo

B2

SUV

9,519

9,333

7,995

9,964

10,113

9,429

9,392

XUV700

D1

SUV

8,555

7,221

5,881

7,206

6,546

7,451

7,143

Thar

B2

SUV

5,417

5,810

5,793

6,059

5,812

5,747

5,773

XUV300

B2

SUV

4,961

4,673

3,550

4,817

4,218

4,514

4,456

XUV400

B2

SUV

825

710

535

697

610

669

674

Marazzo

C2

MPV

144

49

62

32

51

71

68

Note: If You Want to Buy a New Car, Calculate Car Loan EMI with V3Cars

ABOUT THE AUTHOR

Prathu Sharma

Engineer by upbringing, artist by passion, motorhead because, why not! Likes to know about everything related to technology, switches between american muscle and german innovation depending on the day. Wants to own 69' Mustang Mach 1 and to drive BMW M3 87'someday.

0 Comments

Leave a Reply