MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2023-24 30 STRATEGIC OVERVIEW - AUTO & FARM SECTOR At Mahindra, we strive to unlock potential and fuel India's growth by rising to create value through pioneering products and technology-led services. With a renewed strategy centred on customer-centricity, accessible technology, and innovation, we are expanding our reach and enhancing capabilities to drive growth and empower stakeholders. In the following section, we cover in more detail how we are pivoting to growth in the Auto and Farm Sectors. AUTOMOTIVE SECTOR We are proud of the momentum we achieved in F24. We solidified our position as the leading SUV player by revenue share in the Indian market and climbed to the number two spot overall for car manufacturers by revenue. Mahindra LCVs and electric 3-wheelers continued their dominance, holding substantial market share in their segments. Additionally, our Trucks and Buses business experienced impressive growth, surpassing the industry average by 15 times. We remain committed as ever to build the SUV brand reputation for its Authenticity and Sophistication. The continued success of the Scorpio-N, Thar and XUV7OO, and incredible booking pipeline for all our passenger vehicles are testament to our core pillars of Differentiated Design, Tough & Sophisticated, Spirited Performance, Safety, Technology laden vehicles. We continue to make strong and bold moves to accelerate growth in the Automotive Sector: Ÿ Customer Obsessed Brands Differentiated SUV brand experience, innovative omni-channel models. Ÿ Propel ICE SUVs with Cutting-edge Products Turn-on design, democratise technology, class-leading performance, advanced safety, premiumisation. Ÿ Pioneering a New Era with Category Creating E-SUVs Purpose-built platforms, Software defined architecture, Ecosystem partnership approach. Ÿ Build a CV Moat Higher earnings with Maxx pickup range as our core proposition and launch new portfolio of pickups. Ÿ Go Global Scale up priority markets by leveraging the new Global Pik-Up and Electric SUVs. Building an SUV Legacy We foresee that our core auto brands will continue to remain in strong momentum, aided by the strong order pipeline of the Scorpio Classic, Scorpio-N, Bolero Neo, and the Thar. Strengthening Leadership in LCV In F24, we were No. 1 in LCVs < 3.5T (volumes) - a feat that has been unchallenged in the industry for the last nine years. We have been the leader in the pick-up segment for over 24 years. In F24, we solidified our leadership position with a whole new range of Pik-Up under the brand Maxx Pik-Up catering to multiple requirements of intracity, intercity as well as rural customers. Between XUV 3XO, Thar, XUV7OO, Bolero, Bolero Neo, Scorpio-N and Scorpio Classic, we have clocked ~220K st th * as on 1 May, 2024; includes 3XO as on 15 May, 2024, 11:00 am open bookings.*
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