Mahindra & Mahindra (M&M Ltd) has reported a strong operating performance across businesses in Q3 of FY25 with a consolidated PAT of INR 31.81 billion, up 20 percent. Auto and Farm Divisions continue to deliver growth and margins. Profits have been up 16 percent. The Financial services AUM grew at 19 percent and TechMahindra achieved good traction in deal wins, seeing its EBIT improve 480 bps.
Claiming to be Number one in SUVs with revenue market share at 23 percent, up 200 bps, Mahindra & Mahindra reported that SUV volumes in Q3 FY25 rose 20 percent. The company reported that it has retained its number one position in LCVs below 3.5 tonne GVW with a market share of 51.9 percent, up 230 bps. The company also reported that it has retained its number one position in tractors with the market share of 44.2 percent, up 240 bps. 
While the market share of the group in electric vehicles is at 41.8 percent, the market share of MMFSL AUM has increased by 19 percent. TechMahindra EBIT has rose 480 bps with continued focus on margin expansion. The consolidated revenue was reported at INR 414.7 billion, up 17 percent. Consolidated PAT was reported at INR 31.81 billion, up 20 percent. Year-To-Date FY25 RoE was reported at 18.4 percent and EPS at 86.0.
Speaking about the development, Dr Anish Shah, Managing Director and CEO, M&M Ltd. said, “Our businesses continue to demonstrate strength in execution. Auto and Farm delivered solid performance on market share and margins, on the back of focused execution. The transformation at TechMahindra is gathering momentum. MMFSL continues to balance asset quality and growth priorities, with GS under four percent on the back of strong AUM growth. Our Growth Gems are demonstrating steady progress towards their long-term objectives.”
Rajesh Jejurikar, Executive Director and CEO (Auto and Farm Sector), M&M Ltd, averred, “The launch of our flagship electric origin SUVs, the BE 6 and XEV 9e set a new benchmark in global innovation. Thar ROXX won the Indian Car of the Year (ICOTY) as well as Autocar car of the year. In Q3 F25, we were Number one in SUV revenue market share with 200 bps YoY increase. LCV less than 3.5-tonne volume market share is at 51.9 percent, a gain of 230 bps. The Auto segment PBIT is up by 120 bps YoY. We achieved highest ever Q3 tractor market share at 44.2 percent, a gain of 240 bps YoY, and farm PBIT is up by 260 bps YoY.”
 
 

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Honda Motorcycle & Scooter India (HMSI) Director of Sales and Marketing Yogesh Mathur has exited the company after more than two decades, sources familiar with the matter have confirmed.

Mathur joined the Japanese two-wheeler major in June 2001 and rose through the ranks to become one of its longest-serving senior leaders. At the time of his departure, he held end-to-end responsibility for sales, distribution, logistics, customer service and business planning across HMSI’s network of more than 6,500 dealer and customer touchpoints nationwide. Under his oversight, the company managed annual volumes exceeding 5 million units and a turnover of approximately INR 500 billion, spanning rural, semi-urban, urban, metro, premium and electric vehicle segments

Mutsuo Usui, Director – Sales at Honda Motorcycle & Scooter India, has succeeded Mathur, according to people aware of the development. The company has not issued any official statement on the leadership change.

Mathur’s career at HMSI progressed from executive roles to regional head across every geography in India, followed by stints as division head for marketing and business planning, operating head of sales and marketing, and ultimately senior-level expert. He also served on the company’s CSR Committee, Business Ethics Committee and Information Security Management System (ISMS) Committee.

As HMSI’s official spokesperson, he represented the company in national media for over five years.

At present, there are no further details on Mathur’s next move or the exact effective date of the transition were immediately available.

The move comes at a time when Honda Motorcycle & Scooter India is gearing up to unleash one of its most aggressive product launch roadmap compromising of 10 motorcycles and scooters, which includes 7 models and 3 refreshed variants.

The lineup spans internal combustion engine, electric and flex-fuel mobility, featuring models such as the ADV 160, CB 500, Rebel 300, Rebel 500, XR 300L, XR 300 Rally and QC3 EV. Production utilises local sourcing and manufacturing capabilities to support market expansion

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German automotive supplier Brose has appointed Chetan Lagu as the President of its Indian operations, effective 1 August 2026.

Lagu brings over three decades of experience in the automotive and supplier sector to the role. Prior to joining Brose, he served as Country Manager for Adient in India, a position he held from May 2019. His previous career history includes positions at American Axle & Manufacturing and over a decade of tenure at SKF Group, where he held roles including General Manager of the Car Chassis Business Unit in India.

In his new role, Lagu will oversee the execution of Brose's strategy in India, manage market expansion and direct regional business operations. He succeeds Vasanth Kamath, who served as the head of Brose India from June 2019.

‘India is an important growth market for our company. In his new role, he will drive the execution of our India strategy, strengthen our market presence, and support the continued development of our business in the region. We welcome him to the Brose team and wish him every success in his new role. We look forward to working together and driving the next chapter of growth in India,’ said the company in a statement.

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The automotive industry in India continues to reap the benefits of the revised GST 2.0, new product launches and positive consumer sentiment to drive sales growth in the country.

As per the latest wholesale data shared by the Society of Indian Automobile Manufacturers (SIAM), a total of 2.47 million vehicles were sold in July 2026, marking a 25 percent YoY growth, as compared to 1.97 million units sold a year ago. Interestingly, even compared to the previous month, the industry wholesales grew by 7 percent YoY.

In segment-wise performance, passenger vehicle sales grew by 34 percent YoY to 457,810 units, registering double-digit growth across categories.

Three-wheeler sales at 92,560 units were 33 percent higher YoY, as compared to 69,403 units sold a year ago.

Two-wheeler sales at 1.92 million units managed a 23 percent uptick, as compared to 1.56 million units sold last year.

Rajesh Menon, Director General, SIAM, said, “India’s auto industry delivered its strongest-ever July sales, with robust double-digit growth across Passenger Vehicles, Three Wheelers and Two Wheelers. Passenger Vehicle sales rose 34.3 percent to 458,000 units, Three-Wheeler sales grew 33.4 percent to 93,000 units and two-wheeler sales increased 22.6 percent to 1.92 units compared with July 2025. This positive momentum, sustained over several months, has continued as the industry enters the festive season with expectations of strong consumer sentiment.”

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Kia India has reported that its Carens Clavis EV has surpassed 1,100 units deployed within corporate fleets since its market introduction in July 2025. The automaker underscored this milestone as evidence of the model’s increasing significance in the nation’s transition toward sustainable business transport solutions. Concurrently, the company confirmed a fresh deployment of 100 units for Refex Mobility, with the initial vehicles formally handed over during a ceremony attended by senior Kia India officials.

The vehicle’s combination of interior space, technological features and electric efficiency aligns with current corporate mobility needs, according to the manufacturer. Beyond vehicle production, Kia India is focused on developing a comprehensive ecosystem that includes charging infrastructure and dedicated aftersales support. The strategic partnership with Refex Mobility merges Kia’s electric vehicle capabilities with Refex’s operational fleet expertise, facilitating the integration of EVs into standard organisational transport routines.

This expanding corporate footprint exemplifies the brand’s overarching philosophy of inspiring movement that benefits both communities and the environment. Kia India remains committed to advancing the country’s adoption of cleaner transportation by ensuring that electric mobility solutions remain accessible, practical and prepared for future demands.

Atul Sood, Senior Vice-President, Sales & Marketing, Kia India, said, "Demonstrating how electric mobility can seamlessly integrate into everyday corporate transportation, our deployment with Refex Mobility is a meaningful step towards accelerating this change. The Carens Clavis EV is a capable and practical fit for fleet operations, offering a spacious cabin, comfortable seating for extended daily use, a range well suited to intensive fleet requirements and an advanced Battery Management System that supports efficiency and safety for fleet customers. Recognising this capability, we have expanded the Carens Clavis EV's reach from individual customers to fleet operations, and corporate fleets have an important role to play in this transition. At Kia India, we remain committed to expanding access to innovative electric mobility solutions and working with partners who share our vision of creating cleaner, smarter and more responsible mobility for India."

Anirudh Arun, CEO, Refex Mobility, Said, “At Refex Mobility, we are committed to building fleet solutions that are efficient, reliable and sustainable. Our collaboration with Kia India on this 100-unit Carens Clavis EV deployment brings together a strong EV product with the operational scale our customers need. The Carens Clavis EV's space, comfort and electric efficiency make it well suited to the demands of everyday fleet operations, allowing us to offer enterprises a dependable, zero-emission mobility solution without compromising on service quality. This is a meaningful step in our shared commitment to accelerating cleaner, more sustainable corporate mobility in India, and we look forward to building on this partnership with Kia India in the years ahead.”

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