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 financial results for Q3 FY2026.

The company reported revenue of INR 475.344 billion, as against INR 368.02 billion last year, net profit came at INR 37.94 billion, as against INR 36.59 billion last year. It is to be noted that the net profit was impacted for Q3 FY2026 was impacted due to a one-time provision of INR 5,939 million relating to new Labour Codes.

During the period, the company achieved its highest quarterly domestic sales of 564,669 units, an increase of 97,676 units over the previous year. Total sales reached 667,769 units, which included 103,100 units in exports. This performance was supported by a recovery in the car market following GST reform, with the small car segment in the 18 percent GST bracket contributing significantly to the volume increase.

For the nine-month period from April to December 2025, the company recorded its highest sales volume, net sales and net profit. Total sales volume reached 1,746,504 units, with domestic sales at 1,435,945 units and exports at 310,559 units. Net sales for this period increased to INR 1,242 billion, while net profit grew to INR 1,085 billion.

Financial statements for the period have been restated following the amalgamation of Suzuki Motor Gujarat (SMG) with MSIL. This process took effect from 1 April 2025. The company continues to monitor market conditions as it manages its manufacturing and sales operations.

The recovery in the car market was led by the small car segment. Sales growth in this category accounted for 68,328 units of the total domestic increase. The company remains focused on domestic and export markets to maintain its sales volumes.

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Volkswagen Passenger Cars India has showcased the Tayron R-Line, marking the first of five product interventions scheduled for 2026.

The company plans to introduce updates or new models in every quarter to maintain market presence. These interventions will include SUV, Sedan and Hatchback body styles, with each model intended for different segments of the premium market.

For 2026, the company stated it has established objectives focused on products, customer engagement and experiences. The strategy involves using product actions to address various customer sets throughout the year. The brand aims to sustain interest through these quarterly releases across its vehicle portfolio.

The roadmap for the year is designed to cover multiple segments, ensuring a consistent rollout of updates. By addressing three body styles, the manufacturer intends to reach a broad audience within the premium category. The initiative forms part of a wider plan to enhance the ownership experience and interaction with the brand in India.

Nitin Kohli, Brand Director, Volkswagen Passenger Cars India, said, “Today, we are glad to showcase the Tayron R-Line for the first time in India. I am also delighted to announce that we have planned four more product interventions throughout the year. This year, every quarter will witness a new product intervention that will cater to a different premium customer set. Our objective is to continue building excitement for customers through smart product actions and introducing models that will continue to build aspirations.”

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Renault India has revealed the new generation Duster in Chennai, marking the return of the nameplate to the Indian market. The vehicle is the first product launched under the Renault International Game Plan 2027, a strategy positioning India as a hub for the company's operations outside Europe.

The SUV is built on the Renault Group Modular Platform (RGMP), with 90 percent of its components designed specifically for the Indian market. The vehicle features a 2,657 mm wheelbase and 212 mm of ground clearance, with approach and departure angles of 26.9deg and 34.7deg respectively.

The Duster introduces three engine options, including a hybrid variant for the first time in India. The Strong Hybrid E-Tech 160 pairs a 1.8L engine with a 1.4 kWh battery, designed to operate in electric mode for a claimed up to 80 percent of city driving.

Two petrol options are also available: the Turbo TCe 160, producing 163 PS and 280 Nm of torque and the Turbo TCe 100. Transmission choices include a six-speed manual and a six-speed dual-clutch transmission (DCT) with a wet clutch.

The cabin features a driver-centric layout with a 10.1-inch OpenR Link multimedia system. This system incorporates Google built-in, providing native access to Google Maps, Assistant, and the Play Store. A second 10.25-inch TFT display serves as the instrument cluster, capable of replicating navigation data.

Additional interior features include:

• Ventilated and electric front seats.
• Dual-zone automatic air conditioning with a PM2.5 air quality filter.
• Panoramic sunroof and electric tailgate.
• 17 Advanced Driver Assistance Systems (ADAS) functions.

Fabrice Cambolive, CEO, Renault Brand, said, “As part of the Renault International Game Plan 2027, we are making India a key pillar of our growth outside Europe. We now have a strong ecosystem in Chennai, bringing together design, engineering, manufacturing, and local operations at the highest level - making India one of the most complete and powerful hubs in Renault’s global network. The new Renault Duster is the first step in Renault’s renewal in India.”

Stephane Deblaise, CEO, Renault Group India, added, “With the new Renault Group Modular Platform, Renault brings an advanced hybrid technology and top-tier safety engineering. With Renault Forever program, we also offer our customers a significantly improved ownership experience. New Renault Duster is the start of a renewed product cycle and for an exciting trajectory for Renault in India. Renault is back.”

The vehicle comes with an industry first 7-year or 150,000 km warranty under the Renault Forever programme. Pre-bookings are open via the 'R Pass', with official pricing expected in mid-March 2026. Deliveries for petrol variants will commence in April 2026, while the Strong Hybrid version is scheduled for release during Diwali 2026.

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Stellantis-owned electric vehicle brand Leapmotor recently showcased its new range of product offerings at the Brussels Motor Show.

The OEM utilised the platform to display its latest vehicle technologies and models as part of an expansion strategy within the European market. The lineup featured both battery electric vehicles (BEVs) and hybrid electric vehicles (HEVs) equipped with range extenders.

The event saw the European debut of the B03X, a model designed to showcase the brand's approach to electric technology. Additionally, Leapmotor provided the first public viewing of the B05 interior, highlighting a design philosophy focused on digital integration and materials.

Leapmotor launched the B10 Hybrid EV, which employs a range extender system. Unlike conventional hybrids where the internal combustion engine frequently powers the wheels directly, this architecture uses the electric motor as the sole source of propulsion. The engine serves as a generator to produce electricity for the battery when required and is never mechanically connected to the drivetrain.

This configuration is intended to provide the torque and noise levels of a pure electric vehicle while addressing infrastructure limitations and range anxiety. The system manages energy automatically, allowing for long-distance travel without a reliance on fast-charging stations. Leapmotor positions this solution as a practical transition for regions with varying levels of electrification readiness.

In a standard HEV, the engine drives the wheels, with the electric motor acting in a supporting role. Conversely, Leapmotor's system maintains a consistent electric driving experience because the engine does not provide mechanical drive.

By removing the mechanical complexity of traditional hybrid drivetrains that switch between multiple modes, the company claims a more refined operation. The range extender is designed to operate only in ideal conditions to optimise efficiency and reduce noise.

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