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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The Indian automotive industry concluded FY2025-26 with record-breaking results, with every vehicle category clocking its highest-ever annual sales, as per data released by the Society of Indian Automobile Manufacturers (SIAM).

For FY2026, a total of 28 million vehicles were sold across segments in the country, clocking a 10 percent YoY growth, as compared to 26 million vehicles a year ago. The robust performance was seen in passenger vehicles, commercial vehicles, two-wheelers and three-wheelers, all achieving peak volumes, marking a definitive recovery 7 years after the previous industry high.

The passenger vehicle segment recorded sales of 4.64 million units for the full year, representing a growth of 7.9 percent. This performance was bolstered by a strong second half, which saw a 16.7 percent increase compared to the same period in the previous year. Growth was supported by GST rate reductions, personal income tax relief and lower financing costs resulting from repo rate cuts by the RBI.

Notably, electric passenger vehicle registrations rose by more than 80 percent. Exports in this segment reached 905,000 units, a 17.5 percent increase, with demand remaining steady in the Middle East, Africa and Latin America.

Commercial vehicles also reached a milestone with 1.08 million units sold, growing by 12.6 percent. The rollout of GST 2.0 reforms and increased capital expenditure provided the impetus for fleet operators to purchase new vehicles. In Q4 alone, the segment grew by 18.9 percent to 325,000 units.

Two and Three-Wheeler Momentum

The two-wheeler segment surpassed its previous peak from FY 2018-19, clocking 20.17 million units in FY2026, marking a 10.7 percent annual growth, primarily led by urban demand. Exports for two-wheelers reached a record 5.18 million units.

On the other hand, three-wheelers posted a growth of 12.8 percent with 836,000 units sold, driven by increased economic activity and the expansion of electric autorickshaws. Exports in the three-wheeler segment grew by 50.1 percent, largely due to increased volumes to Sri Lanka and African nations.

Market Outlook and Challenges

While the industry remains optimistic for FY2026-27, several global uncertainties persist. Fluctuations in crude oil and commodity prices, disruptions in shipping routes, and exchange rate volatility linked to the West Asia conflict remain primary concerns for manufacturers.

Shailesh Chandra, President, SIAM, said, “Though FY2025-26 started modestly, the Indian Auto industry has closed the year on a high note with every vehicle category viz. passenger vehicles, commercial vehicles, three-wheelers and two-wheelers, together posting their highest ever sales in a Financial Year, after seven years. The strong contributors to this growth have been the positive sentiments created through GST 2.0 reforms and multiple Repo Rate cuts during the year. Looking ahead, domestic demand and macroeconomic fundamentals remain robust as we step into FY2026-27, which should aid steady growth for the industry. However, uncertainties arising from the West Asia conflict need to be closely monitored, as it may have impacts on production, commodity prices, fuel prices, freight rates and the overall economy.”

Rajesh Menon, Director General of SIAM, stated, “Each of the vehicle category, passenger vehicles, commercial vehicles, three wheelers and two wheelers posted their highest ever sales in the January to March Quarter with double digit growth compared to previous year’s quarter. In Q4 of 2025-26, passenger vehicles posted sales of 1.31 million units with a growth of 13.2 percent, commercial vehicles posted sales of 325,000 units with a growth of 18.9 percent, three-wheelers posted sales of 227,000 units with a growth of 26.7 percent and two-wheelers posted sales of 5.77 million units with a growth of 26.4 percent, compared to Q4 of 2024-25.”

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Japanese automotive major Nissan Motor Co has announced its long-term strategic direction, ‘Mobility Intelligence for Everyday Life’.

The plan focuses on the integration of artificial intelligence into vehicle systems and the expansion of electrification technologies to address global market requirements. Central to this strategy is the development of AI-Defined Vehicles (AIDV), which combine autonomous driving capabilities with intuitive passenger support systems.

The company aims to deploy its AI Drive technology across 90 percent of its product range over the long-term. The new Nissan Elgrand, scheduled for a summer 2026 launch, will feature next-generation ProPILOT technology with end-to-end autonomous functionality expected by the end of FY2027.

Nissan’s electrification strategy will be supported by its e-POWER series hybrid technology alongside new plug-in hybrid and range-extender solutions developed through partnerships.

As part of a portfolio rationalisation, Nissan will reduce its global line-up from 56 to 45 models, reallocating resources to growth areas. The product strategy categorises vehicles into four roles: Heartbeat (emotional and innovative models), Core (scale-driven models), Growth (emerging market models) and Partner (collaborative models). Key upcoming products include the Juke EV for Europe, the body-on-frame Xterra for the US market and a revitalised INFINITI range starting with the 2027 QX65 SUV.

The industrial model will transition to the Nissan Product Family strategy, moving from individual model development to architecture-led platforms. Three product families will eventually account for over 80 per cent of global volume, intended to increase volume per model by 30 per cent and accelerate the rollout of new technologies.

Regionally, Nissan has set a target of one million annual sales in the US by 2030, supported by localised manufacturing and large vehicle leadership. In China, the company aims for one million unit sales by 2030, utilising the region as an export hub for markets in Latin America, ASEAN and the Middle East. The Japanese domestic market will serve as a testing ground for mobility services and autonomous technologies, with an annual sales target of 550,000 units by 2030.

Ivan Espinosa, President and CEO, Nissan, said, “This is the right moment to articulate Nissan’s long‑term vision as we look beyond the Re:Nissan plan and set a clear path for the future. Our vision defines where Nissan is headed, with customer experience as our guiding priority. By advancing mobility intelligence, we will deliver products and technologies that are safer, more intuitive and more accessible with outstanding value and a more rewarding overall experience. As we continue on our path to recovery, it is essential that Nissan demonstrates our relentless focus on serving the customer, seizing the opportunities provided by AI technologies, expanding electrification and driving innovation into our vehicles to deliver sustainable market growth.”

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McLaren Automotive has appointed Kemal Curic as Chief Design Officer, effective from April 2026. Curic joins the company's Executive Leadership Team and assumes responsibility for the design vision and creative direction of the brand's vehicle portfolio. He will oversee all design functions, including interiors, exteriors, colour, materials, and finish (CMF), and digital design.

Curic moves to the British supercar manufacturer from Ford Motor Company, where he most recently held the position of Global Design Director for Performance Vehicles. His career spans over two decades in the global automotive industry, with a focus on luxury and high-performance vehicle design. In his new role, he will collaborate with the engineering and product strategy departments to maintain the company’s focus on lightweight and high-performance vehicle standards.

The appointment comes as McLaren continues to evolve its product line-up, integrating traditional racing heritage with new design innovations. Curic's previous work has been noted for its ability to update established vehicle series while maintaining brand authenticity.

Kemal Curic, Chief Design Officer, McLaren Automotive, said, “McLaren is one of the most respected and aspirational brands in the world. I’m excited to be part of their journey to help shape the design vision of a company so deeply rooted in engineering excellence and racing heritage. I look forward to working with the talented teams at McLaren to create the next generation of breathtaking, purpose‑driven cars.”

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Toyota Kirloskar Motor (TKM), one of the leading passenger vehicle manufacturers, has announced that its participants secured 9 medals at the IndiaSkills National Competition 2025-26.

The cohort achieved 5 Gold, 3 Silver and 1 Bronze medal across seven vocational categories. The competition serves as the primary platform for vocational excellence in India, with participants progressing through district, state and regional levels before reaching the national finals held in Delhi, Bengaluru and Chennai.

In the Mechatronics category, Deepu M S and Jayanth K won gold, while Ganesh P B and Punith Kumar received silver. Shashank S and Abhishek S S secured gold in Robotic System Integration, followed by Chirag G and Vinay M H with silver. In Additive Manufacturing, Pavan B S achieved gold and Harshith K B took silver. Individual gold medals were also awarded to Tejas B S for Auto Body Repair and Punith P for Mechanical Engineering CAD, while Praveen Y H earned a bronze medal in Welding.

The winners will now enter selection rounds for the WorldSkills Competition 2026, which is scheduled to take place in Shanghai, China, from 22 to 27 September. WorldSkills involves young professionals from over 60 countries competing in more than 65 technical skills. Toyota Kirloskar Motors’ participation in these events is part of a broader strategy to train technicians through advanced infrastructure and curricula aligned with international manufacturing standards.

G Shankara, Chief Strategy Officer, Toyota Kirloskar Motor, said, “At Toyota, we believe manufacturing excellence begins with nurturing exceptional talent. The remarkable performance of TKM participants at these prestigious events reflects their ability to excel across diverse skill categories and compete at the highest level. Their achievements embody the spirit of the Skill India Mission – empowering youth, nurturing creativity and fostering innovation. With such milestones, TKM continues to set new benchmarks in skill development and plays a pivotal role in shaping India’s growing talent landscape”

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