In the Indian automotive industry, Mahindra is fondly known as the UV giant. The carmaker has been selling utility vehicles in India for a couple of decades now, and some of them have been topping the sales chart in their respective segments. Also, models like the Thar boast a super-long waiting period, which extends up to 8 months. However, in September 2021, the Indian UV giant sold a total of 13,134 units. In comparison, the company sold 14,867 vehicles in the corresponding month last year. It concludes to a dip in sales of 12 per cent on a YoY basis.
A big chunk of the sales figure came from the UV segment, as the company could retail a total of 12,863 units of its utility vehicles. However, it is less than the figure recorded in September 2020, compounding to a YoY drop of 12 per cent. The prime reason for the decline in sales is said to be the global chip shortage. It is restraining the carmakers from performing at the best of their capabilities.
On this note, Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd., added, “The challenges around the supply of semiconductors continues to pose difficulties for the auto industry globally. We have taken several steps to mitigate the effect and are working towards managing the situation as best as possible.”
In other news, the carmaker has recently launched its new SUV in the country – XUV700. Prices start from Rs. 11.99 lakh (ex-showroom) for the entry-level MX trim and top out at Rs. 21.59 lakh (ex-showroom). The XUV700 is available with either a 2.0L turbo-petrol or a 2.2L turbo-diesel. Moreover, both of these engines can be had paired to either a 6-speed manual transmission or a 6-speed automatic gearbox.
In addition, the XUV700 comes loaded with a long list of features that includes two 10.25-inch displays for the infotainment unit & instrument cluster, driving modes, ADAS, panoramic sunroof, flush-type door handles, seven airbags, premium sound system and more.
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.