Mumbai-headquartered automotive major Mahindra & Mahindra has announced its financial results for FY2025 with revenue of INR 1,592 billion, up 14 percent YoY and a net profit of INR 129 billion, up 20 percent YoY.

The robust financial performance was underpinned by strong automotive sales across key segments. Mahindra stated it continue to top the SUV sales with a revenue market share of 22.5 percent. Furthermore, the OEM held the top spot in the Light Commercial Vehicle (LCV) segment under 3.5 tonnes, commanding a market share of 51.9 percent. The Tractor division also achieved its highest ever full-year market share at 43.3 percent.

Going forward, the company continues to maintain an optimistic outlook for SUV and EV sales. The company has announced that it will unveil a new platform 'Vision' on 15 August 2025, which will further expand its product portfolio.

Furthermore, Mahindra is set to increase its manufacturing capacity for XUV 3X0 and Thar Roxx by 3,000 units, a new platform capacity in Chakan for 120,000 units per annum and a new greenfield facility by FY2028, which will primarily focus on the passenger vehicle segment. The company is also looking at different states and the kind of incentives it gets, before finalising the location.  

“Our current capacity utilisation on the SUV side is almost over 90 percent with Scorpio very close to capacity, Thar Roxx and 3X0 fully on capacity and Bolero is lesser in capacity,” said Rajesh Jejurikar, Executive Director & CEO – Auto and Farm Sector, Mahindra & Mahindra.

Furthermore, the company’s born electric platform, which has spawned the BE 6 and XEV 9e has recently crossed the 6,300 sales mark. At present, the EVs have around 40,000 bookings with an average waiting time of 4-5 months.

Jejurikar explained that an EV customer usually sees around 2 hours of discussion time at the dealership, which is significantly higher than that of an ICE-vehicle customer.

“There's also work to be done by way of enabling charging infrastructure to be facilitated, set up, which means working with their societies or their office complexes wherever they want the charger and all of that needs to be coordinated well and then there's an installation process to be done at home. We have seen that this process is very important to customers to make sure that the experience is very seamless. As we think about ramping up, this is an added thing over and above the input quality which of course is a very important parameter because there is a lot of high tech and so we want to be very calibrated in the way we ramp up. As we have said earlier, that even though we have capacity, we are not operationalising all of that,” added Jejurikar.

A significant highlight was the positive performance of Mahindra's EV division. The company reported being EBITDA positive in the first quarter of the fiscal year within its EV segment, even without considering certain incentives (PLI). This achievement was attributed to a favourable variant mix. While celebrating this milestone, the company cautioned that achieving EBIT margin positivity in the EV sector is anticipated to take several quarters, potentially extending to a year or 18 months. This timeline reflects the ongoing investments required to scale up their EV operations, for which incentives are intended to provide support. The company anticipates that significant EBITDA positivity in the EV segment will become more pronounced as production volume increases.

On the other hand, responding to slowdown in the passenger vehicle sales, Jejurikar stated, “I think there are several enablers which will start kicking in – government spending, infrastructure spending, all of that which will lead to demand picking up. The smaller segments will start gaining out of the income tax benefit that will start kicking in from the front. We think that will be an enabler as well as interest rates come down over time, I think that will be another positive enabler. I do think that over the next few months, the sentiment will start kicking up. But it's a world with a lot of uncertainty at the moment. Multiple things are happening around the world so we don't see any uncertainty that comes out of that.  But, overall I think many macroeconomic factors are positive.”

Dr Anish Shah, Managing Director, Mahindra & Mahindra, added, “I just want to reflect on the numbers – both revenue growth and bank growth – where the stress isn't particularly visible. Yes, there is some level of commercial urban stress, but from our product standpoint, we haven't seen significant impact. Even when we look across other businesses, overall, the picture remains positive. The recent actions around liquidity and interest rates should start to drive greater demand and improved functionality. So, on balance, I’d say we aren’t seeing substantial urban stress at this point – perhaps a slight slowdown or a temporary blip, but nothing major. I believe that's something we’ll bounce back from.”

Looking beyond the domestic market, Mahindra expressed considerable optimism regarding its expansion in North America. The launch of the OJA tractor series in the North American market is reported to be gaining significant traction. Specifically, in the less than 110 horsepower tractor segment, where Mahindra has a strong presence, their retail market share has reportedly surged from 3 percent to 10 percent over the past four months. This sub-110 horsepower category constitutes a substantial 40 percent of the total market volume. This significant growth in their key segment underscores the strategic importance of the OTA series and justifies the investments made in its creation.

Responding to a question regarding potential entry into the insurance market, a Dr Shah stated that this has been under consideration for several years. While acknowledging the complementary nature of their existing business and the large market size, he indicated that any entry would be contingent on identifying a suitable approach that ensures successful returns. But no immediate plans for entering the insurance sector were announced.

Going forward, Mahindra is said to be open to new partnerships and acquisitions.

Comments (0)

ADD COMMENT

Link Copied!

Maruti Suzuki India (MSIL) has reported its most successful financial year to date, posting record annual net profits of INR 144,454 million for FY2025-26, as compared to INR 142,976 million last year.

However, the headline success comes with a caveat: the carmaker is officially ‘sold out,’ ending the year with a massive backlog of 190,000 pending orders.

Despite producing a record 2.42 million vehicles, consisting of 1,974,939 units in domestic market and exports at 447,774 units, Maruti is struggling to keep pace with a domestic market supercharged by ‘GST 2.0’ reforms.

In comparison, total sales last year at 2.23 million units, comprising 1.90 million units in domestic market and exports of 332,585 units.

For Q4, Maruti Suzuki India reports its highest-ever quarterly sales of 676,209 units, up 11.8 percent YoY. Domestic sales came at 538,994 units, while exports at 137,215 units was an all-time high.

Chairman R C Bhargava confirmed the company is operating at 100 percent capacity, with dealer inventories hitting a critical low of just 12 days.

"We are no longer fighting for customers; we are fighting for floor space," Bhargava noted during the earnings call. To address this, the board has greenlit a record capital expenditure (CAPEX) of INR 140 billion – the highest in the company’s history – to simultaneously develop mega-sites in Kharkhoda, Haryana and Gujarat.

In a notable departure from industry norms, Bhargava downplayed the slip in Maruti’s market share to below 40 percent. He dismissed the metric as a ‘sexy figure,’ arguing that physical production limits make market share a vanity metric.

"Why do I care about market share when my ability to produce and sell is intact?" he asked, pivoting the company’s focus toward National Interest – specifically through aggressive exports. Annual exports grew by 34.6 percent, with the UK emerging as the top market for the new electric e-Vitara.

While the e-Vitara marks Maruti’s serious entry into the global EV space, the company is doubling down on a diversified ‘green’ strategy:

The Small Car Revival: Demand for entry-level cars (18% GST bracket) has surged, making up 130,000 of the current order backlog.

The company is aggressively scaling Compressed Bio-Gas (CBG), with its Hansalpur plant aiming to meet 50 percent of its energy needs from cow-dung-derived fuel within two years.

Comments (0)

ADD COMMENT

Link Copied!

Renault India, one of the leading passenger vehicle manufacturers, has inaugurated its first "new’R" experiential retail outlet in Ranchi, marking a transition towards a more urban and futuristic sales environment in Jharkhand.

The facility, located on Old H.B. Road, was opened by Francisco Hidalgo-Marques, Vice-President of Sales & Marketing at Renault India. During the inauguration, the company delivered five new Renault Duster units to customers, highlighting the regional demand for the recently launched SUV.

The launch is part of a broader network expansion that brings Renault’s total national presence to 638 touchpoints, which includes 200 ‘Workshops on Wheels’ designed for remote service delivery.

The Ranchi facility covers over 3,000 sqft and is designed to integrate both sales and technical support. It features four vehicle display units in a contemporary setting and is equipped with eight service bays and a dedicated delivery bay.

The ‘new’R’ theme utilises signature lighting and a central vehicle display to allow for a 360-degree customer view of the products.

The move underscores Jharkhand's growing importance in the Indian automotive market. By combining modern design with increased service capacity, Renault aims to improve long-term customer engagement through its ‘Renault Forever’ initiative.

Francisco Hidalgo-Marques, said, “Jharkhand is emerging as one of the most decisive car markets in India, and Ranchi is right at the heart of that shift. The response to the new Renault Duster tells us that customers are not just buying an SUV, they are buying into capability, design, and trust. With the new’R Store, we are transforming how customers engage with Renault, more modern, more intuitive, and closer to their expectations.”

Comments (0)

ADD COMMENT

Link Copied!

German luxury brand BMW Group has introduced the new MINI Convertible John Cooper Works (JCW) Pack in India, priced at INR 6.15 million (ex-showroom).

Available as a completely built-up unit (CBU), the JCW Pack adds a bold, performance-oriented aesthetic to the classic open-top MINI experience. Deliveries for the limited-quantity edition are set to commence immediately across all authorised dealerships.

The MINI Convertible JCW Pack is powered by the latest MINI TwinPower Turbo petrol engine, delivering a balance of efficiency and ‘go-kart’ handling featuring 150 kW (204 hp) and 300 Nm of torque. A claimed zero to 100 kmph in 6.9 seconds and a top speed of 240 kmph. It is paired with 7-speed Double Clutch Steptronic Sport Transmission featuring a Boost Mode for immediate power delivery.

The JCW Pack focuses on an assertive stance with unique design elements such as specific bumpers, side skirts and door entry sills, complemented by 17-inch JCW Sprint Spoke Black alloy wheels.

It comes with a electrically operated soft top opens in 18 seconds at speeds up to 30 kmph and includes a sunroof mode that can be opened up to 40 cm at any speed. The luggage capacity ranges from 160 litres (top down) to 215 litres (top up).

The cabin merges minimalist design with high-resolution technology including an OLED ‘MINI Interaction Unit’ display, which serves as both the instrument cluster and central command centre, running the MINI Operating System 9.

It gets sports seats feature Vescin upholstery – a high-quality, artificial leather-free material made from recycled components.

Smart features includes a Head-up Display, Harman Kardon Surround Sound and MINI Digital Key Plus, which allows a smartphone to serve as the vehicle key.

The MINI Convertible JCW Pack is equipped with a comprehensive safety suite, including a rollover protection system, Dynamic Stability Control, and a rear-view camera.

Hardeep Singh Brar, President and CEO, BMW Group India, said, “The new MINI Convertible JCW Pack is for those who want their MINI to reflect a bold, assertive personality without losing the signature ‘go-kart’ feel they love. It delivers a sporty JCW aesthetic that perfectly complements your cruises.”

MINI India offers a standard two-year unlimited kilometre warranty, with service and warranty extension options available for up to 10 years. Financial solutions, such as the MINI 360deg plan, provide assured buy-back options and lower EMIs compared to traditional bank loans.

Comments (0)

ADD COMMENT

Link Copied!

Japanese auto major Nissan Motor Co has announced an upward revision to its financial forecast for the fiscal year ending 31 March 2026 (FY2025). The updated guidance reflects a significant shift in operating performance, primarily driven by regulatory changes in the United States and internal cost efficiencies.

The turnaround from a projected operating loss to a profit is attributed to three main factors. Firstly, a major one-time positive impact resulting from the revocation of specific U.S. emissions / greenhouse gas (GHG) regulations, which allowed the company to reverse prior provisions.

Secondly, the impact of ongoing cost reduction measures implemented as part of Nissan's broader recovery strategy. And finally, favourable movements in foreign exchange rates supported both net sales and operating income.

Nissan Motor Co, stated that despite the projected net loss for the year, its cash position remains robust. It expects automotive free cash flow to remain positive for the second half of the fiscal year. And net cash is forecasted to exceed JPY 1 trillion by year-end.

Nissan is scheduled to release its finalised full-year financial results on 13 May 2026, where it is expected to provide a more detailed breakdown of these one-time impacts and its forward-looking ‘The Arc’ business plan.

Comments (0)

ADD COMMENT

Link Copied!