Mahindra Cars waiting period reduces by upto 2-3 months – XUV700, Thar, Scorpio-N

Mahindra has effectively reduced its order backlog significantly, with 2.26 lakh open orders for its SUVs reported as of February 1, 2024, down from over 2.86 lakh in October of the previous year. In response to the backlog, Mahindra has bolstered its production to approximately 49,000 units per month, thus decreasing the waiting time for certain models.

The order backlog for the XUV700 has notably decreased by 50%, from 70,000 open orders to just 35,000. The company indicates that the average waiting period for this SUV is now 2-3 months, despite receiving around 7,000 new bookings monthly.

Nevertheless, the Scorpio and Thar models comprise over 75% of the order backlog. Pending orders for the Scorpio N and Scorpio Classic total over 1.01 lakh, with a waiting period of around 8-9 months for the Scorpio N. Additionally, approximately 71,000 Thars are awaiting delivery, with the Thar RWD facing the longest waiting period at one year.

Furthermore, Mahindra has over 10,000 pending orders for the Bolero and 8,000 open bookings for the XUV300 and XUV400. The company observes that booking cancellations increased to approximately 10% between November 2023 and January 2024 but decreased to less than 8% in January 2024.