In September, Mahindra & Mahindra revealed a decline in its passenger car business, owing mostly to a semiconductor supply shortage. Overall sales fell about 22% year over year, while passenger vehicle sales fell around 12%.

Mahindra sold only 28,112 units last month, compared to 35,920 units in the same month the previous year. Only 13,134 passenger automobiles were sold out of all of them. Mahindra sold 14,857 passenger cars in September of last year, including the Bolero, Scorpio, XUV500, XUV300, and TUV300, among others.

“The problems around semiconductor supply continue to cause difficulties for the car sector globally,” said Veejay Nakra, CEO of Mahindra & Mahindra's Automotive Division. We've taken a number of actions to reduce the impact and are attempting to manage the issue as effectively as possible."

Mahindra has released at least two SUVs since September of last year, including the Thar and the Bolero Neo. Despite initial success, Mahindra's sales volume last month did not improve as a result of the new SUVs. Mahindra is now betting on the XUV700 SUV, which went on sale on Thursday. The XUV700 is anticipated to upset the SUV categories, both small and three-row, with a starting price of Rs 11.99 lakh (ex-showroom).

Mahindra's only saving grace last month was its export numbers. Last month, Mahindra shipped 2,529 units, up from 1,569 units in September of the previous year.

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