Indian Economy News

India's Mahindra has been named as the fastest-growing brand in South Africa for 2022

  • IBEF
  • January 13, 2023

According to a report by the National Association of Automobile Manufacturers of South Africa (NAAMSA), Mahindra, the Indian auto manufacturer has been named as the fastest-growing brand in South Africa for the year 2022.

The report said that Mahindra South Africa (SA) increased its sales volume by over 78% as compared to 2021, which is highest of all the brands of vehicles that report their sales to NAAMSA and more than five times the market average. The total sales of Mahindra in the passenger vehicle market grew by 80% to 4,027 vehicles in 2022 and the sales of light commercial vehicles grew by 77% to 8,885 vehicles. For the first time, the company’s annual sales figure reached close to 14,000 units for the year. It was also the second year for Mahindra since 2019 to be crowned as South Africa’s fastest-growing brand. Mahindra recorded a compound annual growth rate of 23.6% over that period.

The XUV300, the safest car in Africa as tested by the Global New Car Assessment Programme (GNCAP) and was the fastest-growing compact SUV in this segment, with 2,079 units purchased in 2022.

Mr. Rajesh Gupta, CEO of Mahindra SA, attributed the sales success and the title of ‘South Africa’s fastest growing vehicle brand’ to the entire network, including the assembly plant in Durban and the dealers of the company.

Mahindra SA is a fully owned subsidiary of Mahindra and Mahindra India, and the company has dealers in the nine provinces of South Africa. The company has sold over 75,000 vehicles since its opening in 2004.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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