WionDrive News Desk 
Mahindra & Mahindra has unveiled its robust domestic passenger vehicle sales figures for June 2023, signaling resilience amidst chip supply challenges. With 32,588 units sold last month, including 32,585 SUVs and 3 e-Veritos, the company boasts a remarkable 21% YoY growth (June 2022: 26,880 units).
Steady Surge
Achieving the 32,000-unit mark for the fourth consecutive month in 2023, the best performance came in March with 35,997 units. The year commenced with 33,040 units in January and 30,358 units in February.
Strong Q1 FY2024
In a promising start to the fiscal year, cumulative Q1 sales crossed 100,000 units, marking a robust 31% YoY growth (April-June 2022: 76,310 units).
Production Hurdles: Despite its remarkable performance, M&M faced short-term disruptions due to engine-related part shortages at suppliers. Semiconductor constraints, particularly affecting components like airbag ECUs, persisted into the current month.
Veejay Nakra, President of the Automotive Division at M&M Ltd., emphasizes the growth trend driven by SUV demand. Nakra notes, “The XUV700 reached an important milestone as it was launched in Australia amidst great enthusiasm from customers as well as our partners.”
Market Position
As of end-May 2023, M&M holds the second position in the overall utility vehicle market, positioned ahead of Tata Motors and trailing Maruti Suzuki. Given its strong June sales, the company is poised to maintain this standing.
Ramping Up
Expect heightened momentum as M&M gears up production to meet escalating demand for its models. Bookings data highlights strong customer interest, with 292,000 units open for booking and a low rate of cancellations. Notably, the Scorpio N leads with 117,000 bookings, followed by the XUV700 (78,000 bookings), Thar (58,000 bookings), XUV300/XUV400 (29,000 bookings), and Bolero (8,200 bookings).
The company has already expanded SUV manufacturing capacity from 29,000 to 39,000 units per month as of December 2022. In the ongoing fiscal year, they plan to further raise capacity to 49,000 units per month, projecting an annual production potential of 600,000 units.
