Mahindra and Mahindra has edged ahead of its homegrown rival, Tata Motors, for the first time in more than half a decade, led by strong demand for its SUVs, in September 2024. The company clocked sales of 51,062 units last month, registering a year-on-year growth of 24 percent. (September 2023: 41,267);1,528 units were exported to markets overseas.
- Mahindra sells 51,062 units in September 2024
- Tata Motors September sales clocked at 41,063 units
- XUV 3XO has majorly contibuted to volumes in recent months
On the other hand, Tata Motors’ September sales were pegged at 41,063 units, registering an 8 percent year-on-year decline compared to year-ago volumes of 44,809 units. This allowed Mahindra to overtake its arch rival by a notable margin of almost 10,000 units, and emerge as the No. 3 player in the PV segment in September, behind Maruti Suzuki (144,962 units) and Hyundai Motor India (51,101 units).
While the Bolero, Scorpio-N, and the XUV700 continue to be the popular models from the carmaker’s stable, the updated XUV 3XO has been a major driver of volumes in recent months.
The prime reason for the decline in Tata Motors' sales is being attributed to slow costomer demand and seasonal factors. According to Shailesh Chandra, MD, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, "In Q2 FY25, the PV industry saw more than 5 percent decline in retails compared to Q2 FY24, driven by slow consumer demand and seasonal factors. In contrast, the industry offtake was significantly higher than registrations in anticipation of a strong start to the festive season, resulting in a continued build-up of channel stock. Registrations picked up pace towards the end of the month which augurs well for the festive period ahead."
Tata Motors has since readjusted wholesales to align with lower-than-expected retails to keep channel inventory under control. Chandra, in a statement, also said the recently-launched Curvv has been received well by customers, and the numbers should reflect in the coming months. Tata Motors also recently updated the best-selling Punch with more features, introduced a new CNG variant of the Nexon and also updated the Nexon EV with a larger battery pack.
With Inputs from Ketan Thakkar.
Hormazd Sorabjee
Sahil Kukreja
