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.

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Maruti Suzuki India, the country’s largest passenger vehicle manufacturer, has reported its wholesales for June 2025 and Q1 FY2026.

The company sold 118,906 passenger vehicles in the domestic market in June 2025, 8,812 units in sales to other OEMs and 37,842 units in exports. This translates to a decline of 13 percent, 12 percent and growth of 22 percent YoY, respectively.

For Q1 FY2026, the company’s domestic volumes contracted by 6 percent at 393,572 units in the domestic market, as compared to 419,114 units last year. Sales to other OEMs, grew by 19 percent at 28,807 units, as against 24,248 units sold a year ago. The company grew its exports by a robust 37 percent at 96,972 units, as against 70,560 units shipped last year. Overall, the company reported flat growth at 527,861 units across categories and segments. 

Interestingly, the company witnessed a decline across segments, including SUVs.

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Hyundai Motor India, one of the leading passenger vehicle manufacturers in the country, has announced its wholesales for June 2025 and Q1 FY2026.

The company sold 44,024 units in the domestic market last month, which was 12 percent lower YoY, while exports grew by 15 percent at 16,900 units.

On the other hand, the company’s Q1 FY2026 sales came at 180,399 units, which was 6 percent lower, as compared to 192,055 units for the same period last year. Despite 13 percent growth in exports in the first quarter, the domestic volumes were down 12 percent, thus dragging the overall growth momentum.

Tarun Garg, Whole-time Director and Chief Operating Officer, Hyundai Motor India, said, “Underscoring the global appeal of Hyundai vehicles, we recorded a 13% year-on-year growth in export volumes for Q1 FY2026, with 48,140 units shipped compared to 42,600 units in the same period last year. This has elevated the share of exports to 26.7 percent of total sales in Q1 FY2026, up from 22.2 percent in Q1 FY2025. In the domestic market, the geopolitical situation continued to affect the market sentiment with domestic sales registering 44,024 units in June 2025. As we come closer to the beginning of production at the Talegaon plant, we remain cautiously optimistic about a gradual recovery of demand, supported by reduction in repo rates and improving liquidity on account of cut in CRR. We are closely watching the global geopolitical scenario and are committed to delivering value and innovation to our customers across both domestic and export markets.”

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Volkswagen-owned Czech auto brand Skoda Auto India has reported its highest-ever half-year sales of 36,194 units in its 25-year history in the country.

Thanks to a slew of new product offerings in the country, Skoda Auto India now ranks amongst the top seven automotive brands in the country. The achievement comes at a time when the company marks its silver jubilee in India and 130^th year celebration globally.

Ashish Gupta, Brand Director, Skoda Auto India, said, “Our landmark half-yearly sales reflect the strong acceptance of Skoda products and services by customers in India. Our customers love to explore the world around them every day. With the addition of the Kylaq in our portfolio, we now enable their journeys even more through an ‘SUV For Everyone’, as well as our sedan offering. Our aim is to get ‘closer’ to our customers in India with our accessible products, services, and touchpoints across the country. This achievement encourages us to stay focused on being relevant through timely product actions, offer unique value to our customers by differentiating our product and service offerings, and to continue building trust with an unmatched ownership experience.”

It was at the start of the year, Skoda Auto India introduced its first sub-4-metre SUV, the Kylaq, in the country, its most affordable yet. The Kodiaq 4x4 was soon launched later targeting the premium set of consumers.

At the same time, the company is further cementing its network to over 295 touchpoints to be closer to customers. The target is to have 350 touchpoints by end-2025.

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Mumbai-headquartered automotive major Mahindra & Mahindra has announced its wholesales for June 2025 and Q1 FY2026. The company reportedly sold 76,355 units in the domestic market across segments, which marked a 14 percent YoY growth over June 2024.

This includes 47,306 SUVs, up 18 percent YoY, 20,575 commercial vehicles and 8,454 three-wheelers, including electric models.

For Q1 FY2026, the company’s sales came at 237,582 units, which was 16 percent higher YoY. SUVs continued to drive volumes with 22 percent growth in Q1 at 152,067 units, as against 124,248 units sold last year.

Nalinikanth Gollagunta, CEO, Automotive Division, Mahindra & Mahindra, said, “In June, we achieved SUV sales of 47,306 units, a growth of 18 percent, and total vehicle sales of 78,969 units, a 14 percent growth compared to the same month last year. The quarter ended on a very positive note for us, marking the highest quarter ever for SUVs.”

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