M&M SUV Sales Surge 60% During Navratri; New EV Launch Planned for November

Market Performance

Mahindra & Mahindra (M&M) witnessed a strong start to the festive season with a notable jump in retail SUV sales. During the Navratri period, SUV sales rose sharply by 60%, highlighting robust consumer demand and positive market sentiment.

In early trading, M&M shares opened at Rs 3,491, marking a 0.55% gain. Over the last year, the stock has climbed 14%, trading within a range of Rs 2,425 to Rs 3,723.80. During the same period, the Nifty 50 index recorded a 1.4% rise.

Main News: SUV Sales Soar Amid Festive Demand

The festive season has given a strong boost to M&M’s SUV sales. Footfall at dealerships surged, driven by:

• Festive sentiment and increased consumer spending.
• A refreshed product lineup with modern features.
• Benefits from GST 2.0 reforms, which have encouraged buyers to consider higher-value vehicles.

M&M CEO of Auto, Nalinikanth Gollagunta, noted that retail dealer sales for SUVs jumped 60% during Navratri, demonstrating strong market momentum.

Company Updates: Product Upgrades and EV Launch

To capitalize on the growing demand, M&M has rolled out updated versions of the Bolero and Bolero Neo, adding contemporary features while maintaining their rugged SUV appeal. These updates were designed based on customer feedback to enhance the vehicles’ value proposition.

Looking ahead, M&M is preparing to launch a new electric vehicle (EV) by the end of November. This launch reflects the company’s strategy to diversify its offerings across multiple powertrains, catering to both traditional and emerging market trends.

EV Market Insights

Electric vehicle adoption in India is gaining traction. Registrations on the Vahan portal crossed 14,000 in September, marking growing consumer acceptance of EVs. M&M’s strategy focuses on expanding consumer choice rather than competing solely on traditional metrics, covering rural and urban markets with multiple powertrain options.

The company continues to monitor alternative technologies like CNG, but current performance benchmarks favor petrol, diesel, and EV engines.

Consumer Trends and Market Strategy

Following GST 2.0 reforms, M&M has observed shifts in consumer buying patterns:

• Some buyers are skipping hatchbacks and moving directly to entry-level SUVs.
• Others are upgrading to premium models or higher variants within the same budget.

These trends are being closely tracked to adjust production, marketing, and sales strategies.

Summary

M&M’s SUV sales surge during Navratri underscores strong festive season momentum. With product upgrades and a new EV launch planned for November, the company is well-positioned to capture evolving consumer demand. Share performance reflects growing investor confidence, highlighting M&M’s robust positioning in India’s automotive market.