Many people want to buy Mahindra’s SUVs, and the company has a lot of orders. Right now, they have 2.86 lakh orders for their SUVs, which is a bit more than what they had at the end of the first quarter of FY2024 (2.81 lakh units). Even though fewer people are ordering the smaller and more affordable Mahindra SUVs like the XUV300 and Bolero Neo, the company is still getting 51,000 new orders every month in the second quarter. This is mostly because people want the bigger and more expensive models, especially the Scorpio family. So, Mahindra has more demand than they expected, and they have to figure out how to meet all these orders.
Out of the 286,000 open bookings with the carmaker, more than 40 percent, which is nearly 120,000 orders, come from the Scorpio family. This includes the updated Scorpio Classic and the new-generation Scorpio N. The Scorpio N is currently the most sought-after among all Mahindra models, with over 10,000 bookings every month. The Classic is also doing well in terms of orders. Currently, if you want to buy the Scorpio N, you might have to wait for a little over 9 months, according to Veejay Nakra, the President of Mahindra Auto.
The Thar is the second most popular, with more than 76,000 orders still waiting to be filled. It keeps getting over 10,000 new orders every month. The rear-wheel-drive version of the Thar is cheaper, which makes more people want it. But because of that, you might have to wait up to 16 months to get one.
The XUV700 is also doing well, even though it’s been two years since it came out. Mahindra has 70,000 orders for it, and they get about 9,000 new orders every month. They’ve reduced the waiting time for the cheaper versions (MX, AX3, AX5), but you still have to wait more than a year for the fancier ones (AX7 and above).
The time you have to wait for some versions of XUV700 and Scorpio N has decreased a bit. But for the more expensive versions of XUV700, the waiting time hasn’t gone down as much as we want. We are working to make 8,000-9,000 units of Scorpio N and XUV700 and 6,000 units of Thar every month. We hope this will make the waiting time shorter. We still feel concerned that the waiting time is not decreasing enough, said Rajesh Jejurikar, Mahindra Auto’s CEO.
For XUV300 and XUV400, there are about 10,000 orders waiting (getting 6,000 new orders every month). The Bolero family has 11,000 orders waiting (getting 9,000 new orders every month). Mahindra is sure that it will reduce the waiting time a lot by the end of this financial year. They plan to make 49,000 units every month by March 2024.
Mahindra Auto, led by CEO Rajesh Jejurikar, acknowledges challenges in reducing waiting periods for high-end XUV700 models but expresses optimism as production ramps up to meet the demand. With ambitious plans to manufacture 8,000-9,000 units of Scorpio N and XUV700, along with 6,000 units of Thar monthly, the company aims to address the issue. Additionally, the confidence in reducing waiting times for popular models like XUV300, XUV400, and the Bolero family reveals a strategic approach to enhance production capabilities and meet customer expectations by March 2024.