Mahindra believes that Mahindra is enjoying strong demand for its brand and has been seeing an average of 51,000 units booking every month over the last few months. 51,000 monthly bookings, 2.86 lakh order backlog
Media Post Q2 FY24 (April 2023-March 2024) Speaking on the earnings call, Rajesh Jejurikar, ED and CEO of auto and farm business at Mahindra & Mahindra, said the company is sitting on an order book of 2.86 lakh units till November. 1, and the cancellation rate remains in the single digits – 8 percent.
The company currently has a backlog of 10,000 bookings for the XUV300 and XUV400, 70,000 for the The company has increased production of all its flagship models including XUV700, Thar and Scorpio. Jejurikar said the company is looking forward to delivering more cars in the future and will focus on reducing waiting periods.
Mahindra’s revenue market share increased
Between July and September 2023, Mahindra & Mahindra sold 1,14,742 SUVs, more than double what it sold a few years ago. The company has been the second best SUV manufacturer in the country for five consecutive quarters.
Mahindra’s market share in the SUV segment has increased to 19.9 per cent by the end of September, and Jejurikar said the company is confident of retaining the revenue leadership in the SUV segment.
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To maintain the product excitement, Jejurikar said the company will be coming out with an updated version of the XUV400 with improved interiors, and the company is well on track with its EV plans on the INGLO platform – the first model is about to be launched. In December 2024.
