In the recent report, it was noted that Mahindra’s SUV represented more than 70% of the 30,000 unit sales in the segment in February 2024. In February 2024, Mahindra SUVs topped the sales charts for midsize SUVs in India. Month-over-month (MoM) sales for the segment showed a nearly 3 percent decline in popularity; however, Mahindra Scorpio and MG Hector continued to report gains last month. Let’s read the key takeaways from the report:
Scorpio wins the race
The Mahindra Scorpio, comprising both the Scorpio N and Scorpio Classic models, continued its reign as the king of the sales chart. Selling more than 15,000 units last month, it not only kept its crown but also saw its kingdom grow with a monthly increase in demand of over 5%. This robust performance underscores the brand's deep-rooted popularity and the model's appeal to a wide range of customers.
XUV700 maintains its position
Though it sold fewer than half as many units as its sibling, the Mahindra XUV700 demonstrated the brand's dominance in the segment after it. Its performance and presence are noteworthy even though month-over-month sales have slightly decreased by more than 9%, demonstrating the wide range of consumer preferences.
Tata Sales
Tata Motors made a notable impact with its Tata Safari and Tata Harrier models, both attracting over 2,500 customers each. Together, they crossed the 5,000 units sales mark, signaling Tata's competitive edge and the enduring appeal of these models among SUV enthusiasts.
MG Hector's Demand
The MG Hector, along with its sibling the Hector Plus, maintained a stable footing in the market with more than 1,800 units sold. Despite a dip in year-over-year market share by nearly 20%, its consistent monthly sales highlight a loyal customer base and a solid demand for this model.
Hyundai Alcazar Faces Challenges
The Hyundai Alcazar, while surpassing the 1,000-unit sales milestone, faced a steep decline of nearly 30% in month-over-month sales. This drop signifies the challenges and the highly competitive nature of the midsize SUV market.
Jeep Compass and Hyundai Tucson
The Jeep Compass and Hyundai Tucson, representing the premium segment, saw varied fortunes. The Compass, despite a decrease in sales, remained the segment's top choice, whereas the Tucson experienced a decline in sales, indicating the fluctuating preferences among premium SUV buyers.
Volkswagen Tiguan and Citroen C5 Aircross
The Volkswagen Tiguan secured its place in the market, albeit with just over 100 units sold, taking the ninth spot. On the other hand, Citroen faced a stark reality with no units of the C5 Aircross sold, reflecting the brand's struggle in this competitive landscape.
Manufacturers are always making adjustments to satisfy customer demands as the midsize SUV market continues to change. The substantial investment made by Tata Motors in a new plant in Tamil Nadu is evidence of the industry's expansion and its expectation of future demand.
In summary, February 2024 offered a glimpse into the flourishing midsize SUV market, with Mahindra spearheading the charge, Tata Motors demonstrating its might, and other participants maneuvering through the cutthroat landscape. The market is expected to continue evolving as new models enter the market and preferences change, indicating exciting times ahead for manufacturers and consumers alike.
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