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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French automaker Renault India, a wholly owned subsidiary of Renault Group, has reported its wholesales for July 2026.

The company sold 3,293 units last month, up 27.9 percent YoY, as compared to 2,575 units for the same period last year.

With this, Renault India has now registered double-digit YoY growth for the 11^th consecutive month. The company attributed the growth to the demand witnessed across its product portfolio and broadly aligned with the overall industry.

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Kia India recorded wholesale dispatches of 28,200 units in July 2026, marking a 27.4 percent increase compared to 22,135 units sold last year.

Interestingly, last month the automaker clocked its highest July wholesale volume since commencing operations in India.

The company attributed the sales performance to the Seltos and Sonet SUVs. The Seltos has maintained monthly dispatch averages above 10,000 units since January, with year-to-date growth standing at 75.7 percent. On the other hand, Sonet saw its sales rise 34.5 percent for YTD CY2026.

Atul Sood, Senior Vice-President – Sales & Marketing, Kia India, said, “Our best-ever July wholesale performance reflects the continued trust of our customers and the strong acceptance of Kia's diverse product portfolio. Building on our record H1 performance, we have maintained healthy momentum across key segments. Led by the strong performance of the Seltos and Sonet, we have seen healthy demand across Carens Clavis and MY26 Syros. Meanwhile, the Carens Clavis EV continues to strengthen our presence in the electric mobility space. We are delighted by the customer response to the newly launched Syros EV. Its segment-leading range, advanced technology, industry-leading ownership benefits and expanding EV ecosystem reflect our commitment to delivering practical and future-ready mobility solutions for Indian customers. We remain focused on strengthening our product portfolio and enhancing the ownership experience as we continue our growth journey.”

In the electric vehicle segment, Kia India recently introduced the Syros EV, featuring an ARAI-certified range of 526 km, 171 PS power output, Level 2 autonomous driver assistance systems with 16 functions and a 39-minute fast-charging capability from 10 to 80 percent. The model joins the Carens Clavis EV in Kia's electric lineup.

At present, the company operates a retail and service network comprising 905 touchpoints across 412 cities in India, supported by 135 Certified Pre-Owned vehicle outlets.

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Honda Cars India (HCIL), a leading passenger vehicle manufacturer, has announced its wholesale sales of 8,284 units for July 2026, up 10 percent YoY, as compared to 7,524 units sold last year.

In the domestic market, the company sold 6,014 units, up 48 percent YoY, as compared to 4,050 units last year. Exports came at 2,270 units, a decline of 35 percent YoY, as compared to 3,473 units.

Kunal Behl, Vice-President, Marketing & Sales, Honda Cars India, said, “Our sales performance with over 48 percent growth in domestic sales in July’ 26 reflects the positive momentum we are building across our portfolio. The encouraging response to the recently introduced new City and the launch of the Honda ZR-V has further strengthened customer interest in the brand, while Honda Elevate and Honda Amaze continue to deliver robust sales backed by their strong value proposition and customer trust. With the onset of the festive season, we are confident that our strengthened portfolio and customer-focused initiatives will help us sustain this momentum in the months ahead.”

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Maruti Suzuki India, the country’s largest passenger vehicle manufacturer, has reported its wholesales for July 2026, selling 241,421 units, marking a 34 percent YoY growth, as compared to 180,526 units sold last year.

In the domestic market, the company sold 196,203 passenger vehicles, up 42 percent YoY, as compared to 137,776 units last year. Commercial vehicle sales came at 3,920 units, as compared to 2,794 units.

Sales to other OEMs (Toyota Kirloskar Motor) came at 11,242 units, up 37 percent YoY, as compared to 8,211 units.

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