The demand for SUVs is continuously increasing in the Indian automotive market. in this demand Mahindra The share of SUVs is also continuously increasing. In the second quarter of FY 2024, Mahindra achieved bookings of 2.86 lakh SUV cars. This is a new achievement in the history of the company.
Many reasons for the surge in demand for Mahindra’s SUVs
There are many reasons for the surge in demand for Mahindra’s SUVs. One reason is that Mahindra has updated its existing SUV lineup. These updated SUVs have better design, features and performance. The second reason is that the preferences of Indian customers are changing. Now they are preferring SUVs over hatchbacks and sedans.
Mahindra increased production
Due to the surge in demand for Mahindra’s SUVs, the company has had to increase production. The company has increased the production of all its major models including XUV700, Thar and Scorpio. However, despite increasing production, the company’s demand for SUVs is not being met. Currently, there is an order backlog of more than 1 lakh for many of Mahindra’s SUVs.
Customer demands will be met
Mahindra CEO Rajesh Jejurikar said that the company is committed to meeting the demand for SUVs in future also. The company is also working on launching new models and updating existing models.
Company’s revenue increased by 29% in the second quarter of 2024
Due to the surge in demand for Mahindra’s SUVs, the company’s revenue and profits are also increasing. The company’s revenue increased by 29% to Rs 8,362 crore in the second quarter of FY 2024. At the same time, the company’s profit increased by 24% to Rs 1,914 crore.
A positive sign for the Indian automotive market
The surge in demand for Mahindra’s SUVs is a positive sign for the Indian automotive market. This indicates that the preferences of Indian customers are changing and they are now preferring SUVs.