Mahindra's Thar sales cross 10,000 units in April, highest ever

Mahindra & Mahindra, which recently announced its quarter 4 results for the fiscal year 2025, the Auto and Farm Sector CEO of the company, Rajesh Jejurikar, highlighted about the robust demand for Roxx, including three-door Thar in the country. In an interview with CNBC-TV18, Jejurikar said, "Thar, as a portfolio, in April, crossed 10,000 for the first time. So three door and five door together, we sold more than 10,000".

Five years ago, the company sold 600 units of Thar a month, which now has increased to more than 10,000 units, he added.

In addition to the demand for SUVs, M&M's electric vehicles' waiting period is four months.

Further, Jejurikar has anticipated an improvement in urban demand in the next three to six months following the 28% growth in the SUV portfolio in the fourth quarter of fiscal year 2025.

He attributed the change in the income tax slab as the key factor behind the improvement in urban demand.

"Over the next three to six months, I believe urban demand will improve. One factor is the change in income tax slabs that started in April, which releases more cash. Interest rates are trending downward, which improves cash flow and borrowing costs for things like car loans. These factors are more significant for urban customers," Jejurikar said.

The M&M crossed 22% revenue market share and gained 1.8 share points in the SUV segment this year.

Jejurikar said that the automaker does not chase volume market share of the SUVs, instead focusing on products with the highest brand recall.

"Every time we release a new product, we want people to say “wow.” If more customers feel the same, that leads to market share gains. But we don’t want to be seen as just another car on the road with no brand recall," he added.

The current market capitalisation of M&M stands at Rs 3,86,774.77 crore. The stock is currently trading at Rs 3,110 at 11 am on the BSE and has gained 37% over the last year.