Mahindra & Mahindra to ramp up production of Scorpio-N, XUV700 and Thar, waiting period likely to decrease
Mahindra & Mahindra increasing the production of many SUVs including Scorpio-N, XUV700 and Thar to decrease the waiting time of these SUVs. The company has now finished second in the SUV segment in terms of volume for four consecutive quarters, but it has held the top spot in terms of revenue market share for six consecutive quarters.
These SUVs are in demand
Mahindra had a 59.58% increase in its SUV volume year over year (yoy), from 223,682 units in FY22 to 356,961 units in FY23. During the current fiscal year’s April through August period, it has already sold 173,637 units. Its market share of SUV revenue in Q1 FY24 was 20.2%. Scorpio-N, XUV700, and Thar are three of the company’s SUV models that have had exceptionally strong demand. The waiting period for the Scorpio-N is up to 50 weeks, the XUV700 40 weeks, and the Thar 70 weeks, depending on the variant-powertrain combination.
Mahindra & Mahindra also shared a post related to its new Bolero
Mahindra’s Automotive Division President Veejay Nakra said that “The current capacity for the SUV portfolio, which is sitting at 39,000 units per month, moves to 49,000 in the fourth quarter of this financial year (FY24). We are increasing the capacity on the brands where the waiting period is high, basically the Scorpio-N, XUV700 and Thar. As we increase the capacity, we are expecting the waiting period to come down,
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