In its latest results presentation for the April to June quarter, Mahindra announced a significant reduction in its pending orders, which have decreased by nearly 20% from 2.22 lakh units to 1.78 lakh units. Notably, the order backlog for its popular models, including the Thar, Scorpio, and Scorpio N, has dropped by approximately 30%. However, the decline is smaller for the XUV700, Bolero, and Bolero Neo.
Mahindra Thar Order Backlog
The order backlog for the Mahindra Thar has decreased from 59,000 to 42,000 units. To meet the demand, the company plans to increase the Thar’s production by about 4,000 units per month. In June, the Thar saw around 5,000 new bookings. This production boost also aims to accommodate the upcoming Thar Roxx, the 5-door version scheduled for launch on August 15. The average waiting period for the 2WD Thar is now between two to two-and-a-half months.
Mahindra Scorpio and Scorpio N Order Backlog
The order backlog for the Scorpio Classic and Scorpio N has reduced by about a third, from 86,000 to 58,000 units. In June, Mahindra received around 12,000 new bookings for these models, a decrease from the approximately 17,000 monthly orders seen in the January to March quarter.
Mahindra XUV 3XO Order Backlog
The XUV 3XO compact SUV, launched on April 29, is the only model to experience an increase in pending orders, rising from 50,000 to 55,000 units by the end of March. In June alone, the XUV 3XO garnered about 20,000 new bookings. Mahindra has ramped up production of both the XUV 3XO and the XUV400 EV, with a target production capacity of 64,000 units by the end of FY2025, including an additional 10,000 units allocated for EVs.
Mahindra XUV700 Order Backlog
Mahindra has increased production of its flagship SUV, the XUV700, from 3,500 units per month three years ago to 10,000 units now. This increase has helped reduce the order backlog from 16,000 to 13,000 units. The number of monthly bookings for the XUV700 remains steady at around 8,000 units, consistent with the January to March quarter.
Mahindra Bolero and Bolero Neo Order Backlog
The combined open bookings for the Bolero and Bolero Neo have decreased by 2,000 units to approximately 8,000 units. In June, these models received about 6,000 bookings, a significant reduction compared to the average of 9,500 bookings per month during the January to March quarter.
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