2022 Mahindra Scorpio-N ‘drives growth’, company reports 87 percent sales increase in August

Mahindra & Mahindra have reported an increase in their domestic passenger vehicle sales of 87% to 29,852 units in August. In the same month last year, the company had sold 15,973 units, according to M&M's regulatory filing. In the reviewed month, 336 units of cars and vans were sold, compared to 187 units in the corresponding month last year. According to the firm, 21,492 vehicles were sold in the commercial vehicle market in August 2022 compared to 8,814 units in the same month previous year.

M&M President, Automotive Division Veejay Nakra said the demand across the company's portfolio remained strong and new launches such as Scorpio-N, Scorpio Classic, and the new Bolero MaXX Pik-up also helped in driving growth.

"The supply chain situation continues to remain dynamic for select product lines, and we are taking appropriate actions to minimize impact," he added. In the tractors segment, M&M said total sales grew marginally to 21,520 units last month, as compared to 21,360 units in August 2021. Domestic tractor sales were at 20,138 units against 19,997 units in the year-ago month, while exports were at 1,382 units last month, as against 1,363 units in August 2021.

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"We are optimistic that tractor purchases on auspicious days in the festive season will lead to a revival in demand as farmers start preparation for harvesting operations. We are preparing for strong tractor demand in the festive season," M&M President - Farm Equipment Sector Hemant Sikka said.

Meanwhile, Mahindra is also planning on launching its very new Mahindra XUV400 electric SUV in the Indian market. The new electric SUV from the automaker will be launched on world EV day that is on September 9.  Upon launch, the SUV will be competing against its own kinds like Tata Nexon EV, MG ZS EV, and others in the similar category.

With inputs from PTI