Mahindra & Mahindra (Mahindra), one of India’s leading automotive companies, has announced its auto wholesales for October 2024.

The company sold a total of 96,648 passenger vehicles, which includes 54,504 SUVs in the domestic market, up 25 percent YoY.  

On the commercial vehicles front, the company sold a total of 38,638 units, which constitutes 3,935 LCV < 2-tonne; 23,893 LCV 2-tonne to 3.5-tonne; 984 LCV > 3.5-tonne & MHCV and 9,826 three-wheelers. The CV sales were up by 10 percent YoY.

The exports came at 3,506 units, which was 89 percent higher compared to 1,854 units last year.

Veejay Nakra, President, Automotive Division, Mahindra & Mahindra, “We are excited to have clocked the highest-ever SUV sales of 54,504 vehicles in October, a growth of 25 percent and highest ever total volume of 96,648, a growth of 20 percent. The month began on a fantastic note with Thar Roxx garnering 170,000 bookings in the first 60 minutes and the positive momentum continued across the SUV portfolio through the festive season.”

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Geely-owned British-luxury brand Lotus Technology, a leading provider of intelligent and luxury mobility, is set to acquire the remaining 49 percent stake in Lotus Advance Technologies (Lotus UK) from Etika Automotive. This follows a similar move by Geely International (Hong Kong), which exercised its put option earlier.

With this, Lotus Technology will acquire 100 percent of Lotus UK through non-cash transactions based on pre-agreed valuations. This strategic acquisition, expected to be completed by the end-2025 pending regulatory approvals, will allow Lotus Technology to fully integrate all businesses and operations under the Lotus brand and consolidate Lotus UK's financial results.

Lotus UK is responsible for the manufacturing of Lotus's sportscars and hypercars and also houses Lotus Engineering, a consultancy providing services to various original equipment manufacturers (OEMs) and Tier 1 suppliers worldwide.

The put options granted to Geely HK and Etika were part of a previous business combination agreement. These options became exercisable after Lotus UK and its subsidiaries exceeded 5,000 vehicle sales in 2024. The acquisition will involve Lotus Technology issuing new shares, valued at USD 10 per share, in exchange for the Lotus UK shares.

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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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