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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Skoda Auto India has expanded its retail and service footprint to over 350 customer touchpoints across 193 cities, following the inauguration of its 350th outlet in Imphal on 30 October 2026, which marked the brand's entry into Manipur.

The company claims its network has grown by nearly 85 percent over a five-year period, increasing from 191 touchpoints in 2021 to 325 outlets in 2025 and exceeding 350 touchpoints across 29 States and Union Territories by October 2026.

Supported by 79 dealer partners, the current infrastructure comprises 270 sales touchpoints and 203 aftersales touchpoints. Between January 2025 and October 2026, the carmaker added 58 showrooms across 38 new cities and 45 workshops across 34 new cities.

Outlets established during the expansion period generated over 25 percent of the brand's total sales volume between January and October 2026. In 2026 alone, Skoda entered 11 new cities, including Balasore, Baramati, Bathinda, Bikaner, Guna, Imphal, Jorhat, Kaithal, Khammam, Sri Ganganagar and Vasai.

The brand's dealer partner in Bengaluru secured the top position for dealership customer experience in the CarPhD survey, which evaluated 16 cities, 18 automotive brands, and 88,000 customer reviews. Ownership propositions are further supported by Skoda Super Care, providing a four-year standard warranty, roadside assistance, and complimentary service labour, alongside Skoda Express Care for expedited service turnaround times.

Ashish Gupta, Brand Director, Skoda Auto India, said, "Surpassing 350 Customer Touchpoints across 193 cities demonstrates our commitment to bringing Skoda closer to customers across India. Our dealer partners, both existing and new, are central to this journey, and I thank them for sharing our vision of building a stronger Skoda brand in India. As we enter new markets, our priority is clear - to deliver a consistent, enriching customer experience across sales and aftersales. Together with our expanding product portfolio and customer-first initiatives, this growing network will help us strengthen customer trust and deepen our relevance across the country."

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Nissan Motor India, one of the leading passenger vehicle manufacturers, has recorded domestic wholesale dispatches of 3,600 units in October 2026, marking a 50 percent YoY increase compared to 2,402 units in October 2025.

This also marked the company's eighth consecutive month of YoY domestic volume growth.

For YTD (January to October) 2026, the company registered total wholesales of 85,124 units across domestic and export operations. Export dispatches for October 2026 stood at 4,710 units. Volume performance was driven by customer response to the product lineup, including the Tekton, Magnite, and Gravite models, alongside dealer network expansion.

Saurabh Vatsa, MD, Nissan Motor India, said, "Our 50 percent YoY growth in domestic wholesales in October reflects continued customer confidence in Nissan and the progress we are making in India. With 85,124 units wholesaled across domestic and export markets between January and October, we continue to build on the strength of our expanding portfolio and dealer network. As we approach Dhanteras and Diwali, we remain focused on serving customers through distinctive products and enhanced ownership experiences. We also value the continued support of our international dealers, distributors and customers, who contribute to Nissan’s export performance."

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Honda Cars India (HCIL), a leading passenger vehicle manufacturer, has recorded total sales of 8,082 units in October 2026, supported by domestic dispatches of 7,609 units and export volumes of 473 units.

Domestic sales grew 19 percent YoY compared to 6,394 units recorded in October 2025. Export dispatches for the month stood at 473 units against 4,124 units exported in the corresponding month of the previous year.

The company attributed its domestic volume performance to demand for the updated Honda Elevate SUV alongside its existing passenger vehicle portfolio.

Kunal Behl, Vice-President of Marketing & Sales, Honda Cars India, said, "We are delighted with our strong sales performance in October, driven by robust festive demand and positive customer sentiment across our model line-up. The highlight of the month has been the outstanding performance of the New Honda Elevate, which has received an overwhelming response from customers following its recent launch. Its bold new styling, enhanced features and strong SUV appeal have translated into excellent market demand, making it a key contributor to our October sales momentum. The encouraging performance across our portfolio reinforces customer confidence in the Honda brand. We look forward to sustaining this positive momentum in the coming months."

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Toyota Kirloskar Motor (TKM), a leading passenger vehicle manufacturer, has registered total sales of 30,360 units in October 2026, comprising 29,521 units in domestic sales and 839 units in exports.

For the calendar year-to-date period of January to October 2026, the automaker reported cumulative sales of 325,274 units, marking a 3 percent increase compared to 315,716 units recorded in the corresponding period of 2025.

Domestic sales during the 10-month period expanded 4 percent to 299,140 units, up from 287,338 units in 2025. Exports for the January to October 2026 period stood at 26,134 units compared to 28,378 units in 2025. The company noted initial customer response following the recent launch of the updated Toyota Glanza.

Sabari Manohar, Executive Vice-President of Sales-Service-Used Car Business, Toyota Kirloskar Motor, said, "The festive season has continued to generate encouraging customer interest across markets, reflecting the trust in Toyota's products and services. While market conditions continue to evolve, our focus remains firmly on creating value for customers through a diverse product portfolio, enhanced ownership experiences and customer-centric initiatives. We share the joy of festivities with our customers and dealer partners, whose continued confidence in the Toyota brand motivates us to further strengthen our efforts towards delivering reliable, sustainable and accessible mobility solutions."

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