Mahindra sees 60% surge in SUV retail sales, eyes blockbuster festive quarter
Mahindra & Mahindra reported a 60% surge in SUV retail sales ahead of the festive season, driven by GST 2.0 benefits and strong consumer demand. CEO Nalinikanth Gollagunta confirmed a new EV launch in November, reinforcing Mahindra’s electric and SUV growth momentum.
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Mahindra & Mahindra is entering the festive season on a high, reporting a 60% surge in retail SUV sales and gearing up for a new electric vehicle launch in November. As per the company, it could be one of its strongest quarters yet.
CNBC-TV18 reported that Mahindra Auto CEO Nalinikanth Gollagunta attributed the sales momentum to the recently introduced GST 2.0 policy, which has made SUVs more affordable for consumers, particularly in the entry and mid-segments.
“Dealer-reported retail sales are up nearly 60% for SUVs. Some of it is portfolio-driven, but much of it comes from GST 2.0 for autos,” Gollagunta said. “We’re quite optimistic about a strong festive season.”
The company has passed on the full GST benefits to customers, helping to offset global raw material price fluctuations. “Our intent when the government announced the policy was to ensure its benefits reached customers directly, and we did that,” he added.
Mahindra is also strengthening its electric vehicle (EV) lineup, with a new launch scheduled for late November. The automaker has seen growing traction in the EV category, with Vahan registrations crossing 14,000 units in September, the highest ever.
“EVs are clearly a focus area for us. The industry will ultimately move in that direction,” Gollagunta said. “With our upcoming launch, we’ll further strengthen that momentum.”
As consumer preferences evolve, Mahindra is seeing more buyers upgrade from hatchbacks to SUVs and demand for higher variants within its lineup. While the company is exploring alternative powertrains, CNG is “not an immediate focus,” according to Gollagunta.
With Navratri footfalls already strong and Diwali around the corner, Mahindra expects sustained demand. “Inquiries are robust, and we anticipate healthy conversions into bookings,” he said, positioning the brand for a record-breaking festive quarter powered by GST-driven affordability and EV expansion.
