Mahindra & Mahindra is ramping up production to meet strong demand for its popular Thar SUV. The company plans to increase the monthly production capacity for the five-door Thar by 4,000 units. Overall, Mahindra aims for a total monthly production capacity of 64,000 units by the end of the current fiscal year, including models like XUV300/400 and electric vehicles.
Driven by strong SUV sales, Mahindra reported a 20% increase in net profit to Rs 3,283 crore for the quarter ending June. The automotive segment’s profit surged by 35% to Rs 1,330 crore. Despite high demand, the company has a significant order backlog of 1.78 lakh units across various models.