Indian carmaker Mahindra has been named the fastest-growing brand in South Africa in 2022 as the company’s local subsidiary set multiple records last year, according to a report by the Association of Automobile Manufacturers. National Automobile Manufacturers of South Africa (NAAMSA).
The report says ‘Mahindra SA’ has increased sales by up to 78% compared to 2021, the highest among car brands reporting their sales to NAAMSA and five times higher than the average. market average.
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The sales report further shows that Mahindra has increased total sales in the passenger car market by 80% to 4,027 vehicles by 2022 and light commercial sales (its famous Pik Up and Bolero series) increased by 77% to 8,885 vehicles.
The company has averaged monthly sales in excess of 1,000 units per month, surpassing the 10,000-unit-per-year mark for the first time, and reaching nearly 14,000 total sales for the year.
This is also the second year since 2019, Mahindra has been named South Africa’s fastest growing brand and the fourth year in the past five years the brand has been among the country’s fastest growing brands.
Mahindra recorded a compound annual growth rate of 23.6% during that period.
The XUV300 – the safest car in Africa as tested by the Global New Car Assessment Program (GNCAP) – is the fastest growing small SUV in its addressable segment, with 2,079 units registered. buy in 2022.
GNCAP serves as a platform for collaboration between new automotive assessment programs worldwide and promotes universal adoption of the most important United Nations motor vehicle safety standards globally. .
Mahindra SA CEO Rajesh Gupta attributes this success to concerted efforts to build a solid foundation for growth since the company first entered the highly competitive South African market in 2016. 2004
“We are proud to be part of the South African landscape and contribute to the local economy,” he said.
“Our sales success in 2022 and our title as South Africa’s fastest growing company
The vehicle brand can be attributed to our entire network, including our assembly plant in Durban, which has faced parts shortages during the Covid-19 pandemic, and dealers supported our waitlisted customers,” Gupta added.
“In the new year, we hope to repeat our track record with the recently launched XUV700, which achieved a record number of pre-orders for the brand, the highly anticipated Scorpio-N SUV and other new models that we will reveal of course,” said Gupta.
Mahindra South Africa is a wholly owned subsidiary of Mahindra & Mahindra India. The company has dealers in all nine provinces of South Africa, which are comprehensive facilities handling sales, service and spare parts.
The company has also expanded into other sub-Saharan countries, currently exporting vehicles to Botswana, Zimbabwe, Zambia, Swaziland and Namibia, in addition to a presence in Swaziland and Lesotho.
Mahindra South Africa has sold more than 75,000 vehicles since its opening in 2004.
First published date: January 12, 2023, 12:12 PM IST
