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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Indian vehicle retail sales reached a record 2,536,920 units in September 2026, marking a 31.82 percent YoY increase and a 4.69 percent sequential rise over August shows data released by the Federation of Automobile Dealers Associations (FADA).

Interestingly, in H1 (April–September) of FY2027, auto retail reached 15,512,319 units, a rise of 20.77 percent YoY.

In September 2026, growth was recorded across all major segments compared to the previous year. Two-wheeler sales rose 33.08 percent to 1,790,188 units, surpassing the pre-pandemic peak recorded in 2018 by 15.3 percent.

Passenger vehicle registrations increased 32.10 percent to 427,213 units and commercial vehicle registrations grew 37.62 percent to 103,557 units, crossing the 100,000 mark in September for the first time.

Three-wheeler sales climbed 22.25 percent to 132,570 units, with electric models accounting for 64.90 percent of the total.

Wheeled construction equipment sales increased 38 percent to 6,486 units. Tractor sales grew 13.75 percent YoY to 76,906 units, though registrations fell 12.58 percent compared to August due to a delayed festive calendar and uneven rainfall.

Total electric vehicle sales across all categories reached a monthly figure of approximately 334,000 units, bringing electric vehicle market penetration to roughly 13 percent.

In the two-wheeler space, electric vehicles accounted for 11.58 percent of new vehicle sales. In the passenger vehicle segment, petrol vehicles held a 41.27 percent market share, while alternative fuel vehicles accounted for 41 percent. The alternative fuel share comprised compressed natural gas at 23.11 percent, hybrid powertrains at 9.44 percent and electric vehicles at 8.45 percent.

Passenger vehicle dealer stock levels rose to between 43 and 45 days of sales, exceeding FADA’s recommended benchmark of 21 days.

C S Vigneshwar, President, FADA, said, “September’26 was the best-ever September in Indian auto retail, with the industry registering 25,36,920 units, up 31.82 percent YoY and 4.69 percent MoM. I would, however, urge that this headline be read with discipline: the 31.82 percent is the most base-distorted print of the year – a mirror of last September, when buyers deferred purchases in the week before GST 2.0 took effect on 22 September 2025. The cleaner signals are three. It was the best-ever September across five of our six categories and, with it, the best-ever first half of any financial year at 1,55,12,319 units (+20.77 percent); retail rose 4.69 percent over August and even setting the distorted September aside, FY’27’s first five months grew about 17 percent, which is the truer underlying run-rate.”

Going forward, survey results from FADA indicate that 75.57 percent of automobile dealers expect sales growth in October, up from 67.09 percent in August. For the October–December quarter, 78.28 percent of dealers anticipate growth and 49.5 percent have revised their sales forecasts upward for the full financial year following the first-half results.

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French automotive major Renault Group has announced the appointment of Carine Damois as Chief Financial Officer, effective 14 November 2026. She will report to Francois Provost and join the Group's Leadership Team.

She comes with over 20 years of experience in corporate finance, financial governance and digital transformation within international organisations. Her background includes oversight across management control, treasury, risk management, tax, strategic planning, consolidation and sustainable finance.

Since 2021, she has served as Deputy Chief Financial Officer of Michelin, managing finance functions across more than 100 countries. Her prior career includes senior leadership roles across manufacturing, logistics, energy, and operations within Michelin and the AREVA Group. She is a graduate of ESSEC Business School.

The appointment comes as Renault Group continues the implementation of its futuREady strategic plan, aimed at maintaining financial performance and operational agility.

François Provost said: "I am delighted to welcome Carine Damois to Renault Group. Her recognised financial expertise, strong industrial background and international perspective make her the ideal leader for our Finance function. As we continue to execute our strategy and aim to maintain a high level of financial performance, I am confident that Carine will play a decisive role in achieving our ambitions. I would also like to extend my sincere thanks to Duncan for his commitment and contribution to the Group's development over nearly three decades."

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Switch Mobility, the electric bus and light commercial vehicle brand of the Hinduja Group, has signed a Memorandum of Understanding with Adhiyamaan College of Engineering to establish a Skill Development Centre for Electric Vehicle Technology in Hosur, Tamil Nadu.

The facility will function as a dedicated training site to upskill students and industry personnel in electric commercial vehicle technology. The curriculum will focus on practical applications, including battery technology, power electronics, charging infrastructure, real-world vehicle systems and electric mobility operations.

The initiative marks the establishment of a specialised electric vehicle skilling hub in the Hosur industrial belt, aiming to supply trained technical workforce to the region's expanding commercial electric vehicle manufacturing sector.

R G Venkataraman, Chief Commercial Officer, Switch Mobility, said, "As part of the MoU, Switch Mobility will extend its technical expertise and support towards this initiative. This program will entail practical industrial exposure, learning and skill development."

Radhakrishnan, Principal of Adhiyamaan College of Engineering, said, "We are proud to be associated with an industry leader like Switch Mobility. We believe that this collaboration will provide our students with valuable hands-on exposure to EV technologies and strengthen the industry–academia partnership in the field of electric mobility. With this Centre, our vision is to offer a practical learning environment to enhance their employability and prepare them to meet the evolving demands of the electric mobility industry."

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Toyota Kirloskar Motor, one of the leading passenger vehicle manufacturers in the country, has announced five of its employees were awarded the Medallion for Excellence at the 48th WorldSkills Competition 2026, held in Shanghai, China, from 22 to 27 September 2026.

Competing across three skill categories – mechatronics, additive manufacturing and robot systems integration – the company's employees secured five of the total 20 Medallions for Excellence won by the Indian contingent.

The WorldSkills Competition featured over 1,400 participants from 68 countries competing across 64 technical trade categories. The Medallion for Excellence is awarded to competitors who meet international standards by achieving performance benchmark scores below the gold, silver and bronze medal positions.

In the Mechatronics category, Deepu Mudigerepalya Srinivasa and Jayanth Kariyappa received the recognition. Pavan Bhadravati Suresha was awarded in Additive Manufacturing, while Abhishek Somanna Shignalli and Vinay Muttayya Hiremath received medallions in Robot Systems Integration. Additionally, TKM employees Tejas B.S. and Praveen Yankappa Hunakunti represented India in the Auto Body Repair and Welding categories respectively.

G Shankara, Chief Strategy Officer, Toyota Kirloskar Motor, said, "The achievements of our employees at the WorldSkills Competition 2026 exemplify the spirit of excellence, innovation and continuous learning. Five of our employees winning Medallions for Excellence in 3 categories on a global stage is a proud moment for Toyota Kirloskar Motor and for the nation. Their success reinforces our commitment to nurturing world-class talent and supporting India's journey towards becoming the global skill capital. We hope their journey inspires the next generation of young professionals to pursue excellence in technical and vocational careers."

Toyota Kirloskar Motor conducts technical training through the Toyota Technical Training Institute (TTTI), established in 2007 to provide a three-year residential programme for students from rural Karnataka. The automaker has trained over 140,000 individuals through vocational initiatives, including partnerships with over 120 Industrial Training Institutes (ITIs), 30 Government Tool Room & Training Centres (GTTCs), the Toyota Technical Education Program and Toyota Kaushalya.

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