Mahindra & Mahindra (M&M) continues to enjoy strong demand for its SUVs, with average bookings of 51,000 units per month over the last few months.
As of November 1, 2023, the company has an order book of 2.86 lakh units, with a cancellation rate of just 8%.
The company’s most popular SUV models are the XUV300 and XUV400, with 10,000 bookings each, followed by the XUV700 with 70,000 bookings, the Thar with 76,000 bookings, the Bolero with 11,000 bookings, and the Scorpio (both N and Classic) with 1,19,000 bookings.
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M&M has ramped up production for all its key models and is keen on delivering more cars in the future to shorten the waiting period.
Between July and September 2023, M&M sold 1,14,742 SUVs, which is more than double the volume it used to do a couple of years ago. The company has ranked as the second-best SUV maker in the country for five consecutive quarters.
Mahindra’s market share in the SUV space has increased to 19.9% by the end of September, and the company is confident of holding on to revenue leadership in the segment.
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To sustain the product excitement, M&M will be coming out with an updated version of the XUV400 with improved interiors.
The company is also well on track with its EV plans on the Inglo platform, with the first model scheduled to be launched in December 2024.