Mahindra & Mahindra has announced that the Bolero has recorded its best-ever sales in a fiscal, crossing the 1,00,000-unit mark in financial year 2023 (April 2022-March 2023). Cumulative sales of the Bolero, since its introduction in the year 2000 total over 14 lakh units, which is a testament to the model’s value proposition, performance capability and reputation as a reliable and versatile workhorse. The Bolero Neo, launched in mid-2021, has also helped accelerate the pace of sales.

1. Bolero Neo has a younger customer base
2. The Bolero has been Mahindra’s highest selling SUV

Mahindra Bolero crosses 14 lakh units sold since 2000 

As per our sister publication Autocar Professional’s estimates, the Bolero sold a total of 1,00,577 units in FY2023, ranking seventh in India’s Top 30 Utility Vehicles, which is a very creditable achievement given the extremely high competition in the segment. This constitutes a handsome 54 percent year-on-year growth with the Bolero and Bolero Neo together averaging monthly sales of 8,381 units.

Veejay Nakra, President of the Automotive Sector, Mahindra & Mahindra, said: "With over 1.4 million sales in total, the Bolero has become more than just an SUV – it has become a household name in semi-urban and rural India. One lakh sales in FY2023 are a testament to the unwavering trust and loyalty of our cherished customers. The Bolero Neo, launched in July 2021, has successfully extended the Bolero SUV brand to new customer segments in tier 1 and urban markets."

Bolero Classic variants, engine, performance, sales

The Bolero, available in three variants – B4, B6, B6(0) – and priced from Rs 9.92 lakh-11.03 lakh (on-road Delhi), is powered by a 76hp, 1.5-litre, three-cylinder mHawk diesel engine that's been updated to comply with the latest safety and emissions regulations.

Along with personal use, the Bolero SUV also sees active duty in municipal corporations and government departments for firefighting, forestry, irrigation, public works, emergency services and other critical operations. The hardy SUV is also a part of various law enforcement agencies across the country like police, the Army and paramilitary forces.

As per the company, apart from the success of the Bolero Neo, the classic Bolero recorded sales growth of over 28 percent in the last financial year.

Bolero Classic variants, engine, performance, sales

The Mahindra Bolero Neo, a rebrand of the Mahindra TUV300, aims to fill the gap between the standard Bolero and the Scorpio. It remains a ladder-frame SUV with a longitudinally mounted, 100hp, 1.5-litre, 3-cylinder turbo-diesel engine with rear-wheel drive. It is aimed at those who prefer a tough, compact SUV that can handle bad roads easily. There is now the option of a mechanical locking rear differential (from the Thar) to help in low-traction situations.

The Bolero Neo has four variants – N4, N8, N10, and N10(O) – priced from Rs 10.08 lakh-13.12 lakh (on-road Delhi).

What has helped Bolero drive past the 1,00,000 unit sales milestone is the sustained demand for the Bolero Neo, which has successfully penetrated new markets and attracted new customer demographics. According to M&M, Bolero Neo customers are relatively younger.

Mahindra had a record-breaking year in the financial year of 2023 with total wholesales of 3,59,253 units. The Bolero contributed 28 percent of total sales, clearly establishing its value in Mahindra's SUV stable.