Mahindra sold really well this Diwali and came within Striking distance of Tata motors for third place.This is significant for a few reasons.
- Mahindra vehicles have a higher average selling price (xuv700, ScorpioN, Thar) vis a vis Tata motors (Nexon and Punch and Tiago.) impacting topline.
- Mahindra commands a higher profit margins per sale than Tata due to higher selling price impacting bottomline.
- Tata launched refreshed Nexon, Nexon EV, Harrier and Safari before the festival season to cash in.
Also, These numbers do not show the strides Mahindra made with MHCV . M&M had put their CV business on the axe but revived it. Tata CV sales grew 4% YOY but Mahindra grew 22.5% (mostly LCV, breakdown not available).
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