Analysts attribute Mahindra’s December growth to demand for newer SUV models. — Reuters
MUMBAI: Indian automaker Mahindra & Mahindra says it clocked an 18% jump in sport utility vehicle (SUV) sales to dealers in December due to strong demand.
The company’s shares climbed 1.5% following the announcement. It was also the top-performing auto stock in 2024, with gains of around 74%.
Automobile sales in December are usually sluggish as customers often wait for the next year’s models, with carmakers scaling back production and augmenting discounts to clear unsold vehicles.
However, analysts attribute Mahindra’s December growth, as well as its industry-leading growth for fiscal 2025, to demand for newer SUV models such as the Thar ROXX and the XUV 3X0 outpacing supply. –– Reuters
