M&M SUV Sales Jump 60% During Navratri; New EV Launch Slated for November-End

Mahindra & Mahindra (M&M) reported a 60% surge in SUV retail sales during the Navratri period, buoyed by festive demand, refreshed product offerings, and benefits from the GST 2.0 reform. The company expects strong momentum to continue through Diwali, said Nalinikanth Gollagunta, CEO – Auto, in an interview with CNBC TV18. “Retail dealer sales are up 60% on SUVs,” Gollagunta said, highlighting robust footfalls and broad-based demand across models. He added that the company’s focus on customer-centric upgrades, including refreshed versions of the Bolero and Bolero Neo, has strengthened its festive portfolio. On the electric vehicle (EV) front, M&M plans to launch a new EV by the end of November, expanding its multi-powertrain strategy. Gollagunta noted that EV adoption in India is accelerating, with over 14,000 registrations in September on the government’s Vahan portal — a sign of growing mainstream acceptance. “EVs are the end state we believe the industry will move towards,” he said, adding that M&M’s approach is to offer customers diverse choices across ICE, hybrid, and electric technologies rather than compete on a single front. Post-GST 2.0, the company is seeing customers upgrade directly from hatchbacks to entry-level SUVs and existing buyers opting for premium trims. On pricing, M&M plans to pass GST benefits to consumers for now, keeping price hikes on hold. Stock check: M&M shares traded at ₹3,491, up 0.55%, with a 14% gain over the past year. The stock has moved between ₹2,425 and ₹3,723.80 in the period, outperforming the Nifty 50’s 1.4% rise. #Mahindra #SUVSales #ElectricVehicles #M&M #AutoSector #FestiveDemand #GSTReform #Bolero #StockMarket #EVIndia