Mahindra Scorpio, Scorpio N sales cross 10 lakh mark

Since its launch two years ago, the Scorpio N has helped increase Mahindra’s sales figures significantly.

Published On Jul 01, 2024 05:59:00 PM

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Mahindra's Scorpio N, in the market for just over two years, is a clear sales success. The Scorpio brand, which includes the Classic and the N, has helped Mahindra notch its highest-ever 12-month wholesales of 4,59,877 units in FY2024. On February 1, 2024, 19 months and five days since its launch, the Scorpio N celebrated its 1,00,000th sales milestone. Adding an estimated 27,000 units from February to June 2024, total cumulative sales are expected to reach around 1,27,000 units in two years.

On June 27, 2023, Mahindra executives flagged off the 900,000th Scorpio from the Chakan plant in Pune. Between July 2023 and the end of May 2024, the Scorpio twins sold an estimated 142,403 units, pushing the cumulative sales of the brand, launched in June 2002, to 1,042,403 units.

Mahinidra Scorpio wholesales
Fiscal	Units sold	Change (%)
FY2003-2012*	3,31,795	-
FY2013	50,168	-
FY2014	50,949	1.56
FY2015	51,553	1.19
FY2016	48,079	-6.74
FY2017	49,319	2.58
FY2018	53,934	9.36
FY2019	47,837	-11.3
FY2020	38,826	-18.84
FY2021	34,325	-11.59
FY2022	38,696	12.73
FY2023	76,935	98.82
FY2024	1,41,462	83.87
FY2025^	28,524	50.54
TOTAL	10,42,403	-

*Estimated
^April-May 2024

Mahindra's success was evident just three days after the Scorpio N was launched, with online bookings opening on July 1, 2022. The brand claimed the Scorpio N saw 100,000 bookings within 30 minutes – that's 3,333 bookings per minute. And the first 25,000 bookings came within the first minute. At the time, Mahindra said the bookings translated into an ex-showroom value of around Rs 18,000 crore.

In FY2023, combined sales of Scorpio N and Classic reached 76,935 units, marking an impressive 99 percent year-over-year growth (FY2022: 38,696 units). In FY2024, 1,41, 462 units of these models were collectively sold, an 84 percent increase YOY, and accounted for 31 percent of Mahindra’s record-breaking fiscal sales of 459,877 units. Moreover, it climbed from 10th place in FY2023 to become India’s sixth best-selling SUV in FY2024. While the specific sales figures for each Scorpio variants is not available, it's evident that the Scorpio N played a pivotal role in accelerating sales.

The 9,00,000th Scorpio rolled out of the Chakan plant on July 27, 2023.

In the first two months of FY2024, 28,524 units of the Scorpio N and Classic have been sold, according to company reports. This is a strong 50 percent YoY increase (April-May 2023: 18,935 units).

Mahindra Scorpio, Scorpio N pending orders, production

Mahindra's highest demand SUVs are the Scorpio N and Classic. As of May 1, 2024 (and May 15 for the XUV 3XO), the company had total open bookings of 2.2 lakh units, including the flagship XUV700, Scorpio N, Scorpio Classic, Bolero, Thar and the new XUV 3XO. Similar to February 2024, when open bookings count was 2.26 lakh units, the two Scorpios lead with 86,000 bookings (39 percent). Currently, they are averaging 17,000 bookings per month.

Over the past two years, Mahindra has considerably ramped up production to meet the surging demand for its SUVs. From 39,000 units a month in FY2023 to 49,000 units in FY2024, the increase in monthly output has been 26 percent. The company’s increased level of production is paying dividends. The backlog for the Scorpio twins is down to 86,000 units from 1.01 lakh units in February 2024. Like other popular Mahindra SUVs, production of the Scorpio is also up sizeably – between April and May 2024, 28,347 Scorpios have rolled out of Mahindra factories, an increase of 63 percent YoY (April-May 2023: 17,429 units).

On June 14, at its investor meet, Mahindra confirmed it is planning to further increase production capacity to 64,000 units per month (or 7.68 lakh units per annum) by end-FY2025 and 72,000 units a month (8.64 lakh units per annum) by end-2026.

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