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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Tata Motors Passenger Vehicles (TMPV) has announced the launch of the Altroz iCNG AMT, making it the first premium hatchback in India to pair an automated manual transmission (AMT) with a CNG powertrain at prices starting INR 869,000 (ex-showoom Delhi).

The Altroz iCNG continues to feature Tata's patented twin-cylinder technology, which places the CNG tanks under the luggage area to ensure uncompromised boot space – a traditional pain point for CNG vehicle owners.

The introduction of the AMT variant follows a significant surge in CNG adoption in India. According to Tata Motors, CNG penetration in the passenger vehicle market grew from 19 percent in FY2025 to 22 percent in FY2026.

The company is positioning the Altroz as the most versatile vehicle in its segment, offering petrol, diesel, electric (EV) and now both manual and automatic CNG options.

Vivek Srivatsa, Chief Commercial Officer, Tata Passenger Electric Mobility Ltd., said, “The Altroz has consistently set benchmarks in the premium hatchback segment through its strong focus on design, safety and powertrain choice. CNG is the fastest growing fuel choice in the country, with 19 percent penetration in FY2025 and 22 percent in FY2026 and this growth is no longer limited to traditional markets, with new regions contributing significantly to adoption. With the introduction of AMT in the iCNG line-up, we are addressing a clear and growing customer need for greater convenience in CNG vehicles. This addition makes Altroz the most versatile and premium offering in its segment delivering the right balance of efficiency, ease of driving and everyday practicality, without compromising on space or safety."

The Altroz iCNG with dual cylinders has a total capacity of 60 litres located below the load floor. It features a micro-switch to keep the car switched off during refuelling and advanced materials in the iCNG kit to prevent leaks. The Altroz iCNG can be started directly in CNG mode, eliminating the need to switch from petrol.

The 5-speed AMT is tuned specifically to manage the torque delivery of the CNG engine for smooth low-speed crawling in traffic.

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JSW MG Motor India, one of India’s leading passenger vehicle manufacturers, has strengthened its presence in Nepal through a strategic distribution partnership with the Golchha Organisation.

As part of the partnership, the automaker has inaugurated a new MG dealership that will showcase its key products such as MG Hector, MG Windsor and MG Comet for the Nepal market.

With evolving customer expectations and needs, JSW MG Motor India sees Nepal as an important market.

Akash Golchha, Dealer Principal, Nepal, said, “We are delighted to partner with JSW MG Motor India and introduce MG’s globally recognised range of vehicles to customers in Nepal. This dealership is designed to offer a comprehensive and elevated customer experience, backed by modern infrastructure and a strong focus on service excellence. We believe MG’s portfolio, with its blend of technology, design, and sustainability, is well aligned with the aspirations of customers in Nepal, and we look forward to building a strong and enduring presence for the brand in the market.”

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Toyota Motor Corporation (Toyota) announces plans to build a new Toyota Kirloskar Motor plant in the Bidkin Industrial Area, Aurangabad, in Maharashtra.

The plant will have a production capacity of 100,000 units per year and will employ approximately 2,800 people. It is set to produce Toyota Motor Corporation’s new SUV with the facility capable of stamping, welding, painting and assembly processes.

Toyota Kirloskar Motor’s new plant is planned to start production in the first half of 2029 and is aimed at strengthening Toyota's business foundation in the Indian market with production plans for both domestic and export markets.

At present, Toyota Kirloskar Motor has a manufacturing facility in Bidadi, Karnataka, where it has a capacity to produce around 320,000 units per annum.

Toyota Motor Corporation states it will continue strengthening its production structure to enable a flexible response to future demand growth and market changes in India and surrounding regions, and to deliver products in a timely manner that customers choose.

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European automotive brand Opel has unveiled plans for a new, all-electric C-segment SUV as part of a strategic collaboration between Stellantis and Leapmotor. The vehicle is designed to expand Opel’s existing SUV line-up, which includes the Grandland, Frontera and Mokka.

The project aims to reduce development time to less than two years by utilising Leapmotor’s electric architecture and battery technology. The SUV will be designed in Russelsheim, Germany, with engineering handled by international teams in both Germany and China. Opel will integrate its own chassis engineering, seating technology and signature design into the platform.

Production is currently being evaluated for the Stellantis plant in Zaragoza, Spain, where it would be manufactured alongside the Opel Corsa. The sales of the new model are expected to commence in 2028.

Florian Huettl, CEO, Opel, said, “The SUV would be is designed and created by us at Opel in Russelsheim and developed by international teams located in Germany and China. The partnership with Leapmotor should enable a development time of less than two years. With this, Opel is planning a further important step in the development of state-of-the-art and accessible electric vehicles for our customers."

Xavier Chereau, Chairman of the Opel supervisory board and Stellantis Chief Human Resources & Sustainability Officer, added, “With this project, Opel would bring together German engineering excellence with global technological innovation speed. This innovative spirit defines the next chapter of our global collaboration with Leapmotor and Opel is taking on a pioneering role with this project."

The project is currently in the feasibility and pre-development stage, with definitive agreements and customary approvals pending. The announcement comes shortly before Stellantis' Investor Day 2026.

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