Toyota Kirloskar Motor, one of the leading passenger vehicles manufacturers in the country, has inked a Memorandum of Understanding (MoU) with the Union Bank of India to enable comprehensive and accessible vehicle financing solutions. 

The partnership aims to offer innovative and attractive finance solutions to make owning Toyota vehicles more accessible. 

The association allow customers to get up to 90 percent financing on the on-road price of any Toyota vehicles purchased for private use, exempting them from any foreclosure, or part-payment charges.

The financing options under the Union Vehicle Scheme for private vehicle will aid customers to opt for flexible tenures up to 84 months with competitive interest rates starting from 8.80 percent per annum at present.

Under the Union Parivahan Scheme for commercial vehicle will allow customers to opt for flexible tenures up to 60 months with competitive rates.

Sabari Manohar, Vice-President, Sales-Service-Used Car Business of Toyota Kirloskar Motor said, "We are delighted to partner with Union Bank of India for enhancing vehicle financing options across the nation. This collaboration signifies our dedication to providing exceptional customer experiences by simplifying and making vehicle financing more accessible. Our goal is to streamline financing options, offer seamless experiences, and provide timely support to make the vehicle purchase process enjoyable. Through the latest partnership, our aim is to broaden reach and extend support to more customers nationwide, particularly in rural and semi-urban areas, in their pursuit of owing a Toyota vehicle.”

Arun Kumar, General Manager, Union Bank of India said, “As one of the largest Public Sector Banks, we are delighted to partner with Toyota Kirloskar Motor. The MoU is surely a big step towards providing financing solutions to a vast array of customers, nationwide. Union Bank of India's robust presence across India complements this partnership and we are confident that our digitised loan procedures will enable customers aspiring to purchase a new Toyota vehicle with utmost ease and convenience.”

The newly launched schemes are applicable to Toyota Kirloskar Motor's entire product line, including the Innova Hycross, Innova Crysta, Urban Cruiser Hyryder, Fortuner, Legender, Camry Hybrid, Vellfire, LC 300, Glanza, and Rumion. Additionally, the benefits extend to the newly launched Urban Cruiser Taisor. 

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Tata Motors Passenger Vehicles has announced it will present the Indian Women’s Cricket Team with the first lot of the soon-to-be-launched Tata Sierra SUV following their victory at the ICC Women's World Cup. The Tata Sierra is slated to be launched on 25^th November.

The company will gift the top-end model of the Sierra to each team member as part of its salute to the team’s journey and contribution to the country.

Shailesh Chandra, MD and CEO, Tata Motors Passenger Vehicles, said, “The Indian Women’s Cricket Team has made the entire nation proud with their extraordinary performance and remarkable win. Their journey stands as a true testament to determination and the power of belief, qualities that inspire every Indian. At Tata Motors Passenger Vehicles, we are privileged to present these legends with another legend, The Tata Sierra. This is our salute to their spirit and the pride they have brought to the nation – Two legends, One spirit, Infinite inspiration.”

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Maruti Suzuki India, the country’s leading passenger vehicle manufacturer, has attained a new milestone by crossing the 30-million-unit sales milestone in the domestic market.

The new benchmark was attained by the company over a course of 42 years, with the first 10 million unit sales taking 28 years and 2 months to achieve.

The 20 million unit sales took 7 years and 5 months, while the recent milestone took just 6 years and 4 months.

Interestingly, the entry-level hatchback Alto was the most preferred model in the country, with over 4.7 million units sold, followed by Wagon R with 3.4 million units and the sporty Swift with 3.2 million units.

The Brezza and Fronx SUVs also played an instrumental role in contributing to the sales milestone, being featured among the top 10 models sold in the country.

It was on 14^th December 1983, Maruti Suzuki India delivered its first model, the iconic Maruti 800, to its first customer.

Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki India, said, “When I look at the length and breadth of India and think that 3 crore customers have placed their trust in Maruti Suzuki to realise their dream of mobility, it fills me with humility and gratitude. Yet, with car penetration at approximately 33 vehicles per 1,000 people, we know our journey is far from over. We will continue to make every possible effort to bring the joy of mobility to as many people as we can, while also be an asset to both the economy and the environment at the same time.”

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American electric vehicle maker Tesla has appointed Sharad Agarwal, former Chief Business Officer of Classic Legends, as its new business head, according to a report by Bloomberg.

The report further stated that Agarwal joined the EV maker a week ago and is tasked to drive sales for Tesla in India, which as per industry observers, has not performed as per the company’s expectations.

Agarwal, an automotive industry veteran, had begun his career with TVS Motor Co as Area Sales Manager in December 2002, before joining Mahindra First Choice Wheels as its Business Head for North and Eastern region in March 2007.

It was in January 2013, he moved to Audi India as the head of Sales, before taking over as the head of Lamborghini India in April 2016, where he spent almost 9 years, before joining Classic Legends.

During his tenure at Lamborghini, the Italian super luxury car maker saw its dealerships across India achieved a Return on Sales (RoS) of more than 10 percent, setting a new benchmark for the automotive business in the country. He also grew India’s ranking for the automaker as the third market globally in terms of PR visibility in 2021.

He also expanded Lamborghini India’s reach to over 60 cities, with sales volumes from Tier 2 and Tier 3 cities contributing more than 25 percent of the total.

Tesla, which formally started deliveries in September 2025 with its first dealership in Mumbai and the second facility in Delhi, has till date delivered 114 vehicles, of the estimated 600-plus bookings.

File photo for representational purposes only.

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Mumbai-headquartered business conglomerate Mahindra & Mahindra has announced its financial results for Q2 FY2026 with consolidated Revenue reaching INR 461 billion, marking a 22 percent YoY growth.

The consolidated Profit After Tax (PAT) stood at INR 36 billion, a 16 percent increase YoY. The company stated that, excluding specific one-time impacts, PAT growth was 28 percent YoY.

Mahindra’s Auto business reported sales of 262,000 vehicles, up 13 percent, which includes around 146,000 SUV sales. This translated to a revenue of INR 271 billion, up 25 percent YoY, while net profit came at INR 15 billion, up 8 percent YoY.

On the other hand, the farm sector reported its highest ever Q2 market share at 43 percent with sales of 123,000 units, up 32 percent YoY. The revenue came at INR 102 billion, up 25 percent, while consolidated net profit came at INR 11 billion, up 45 percent YoY.

Dr. Anish Shah, Group CEO & Managing Director, Mahindra & Mahindra, said, “We are pleased with the strong execution and solid performance delivered across the group in Q2 FY2026. Auto and Farm sustained their leadership with consistent gains in market share and profitability. TechM is progressing well on its transformation journey. MMFSL achieved a 45 percent PAT growth and remains committed to quality growth and digital transformation. Our Growth Gems are steadily advancing towards their ambitious goals, reinforcing our long-term value creation potential.”

Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), Mahindra & Mahindra, said, “Strong performance of our Auto and Farm businesses continues in Q2 FY2026 reinforcing our leadership position, with a gain of 390 bps YoY in SUV revenue share, and 100 bps YoY in LCV (< 3.5T) market share. In Tractors, we gained 50 bps YoY to reach 43 percent market share. Our Auto Standalone PBIT margin (excl. e-SUV Contract Mfg.) improved by 80 bps to 10.3 percent and core Tractor PBIT margins improved by 190 bps to 20.6 percent.”

Amarjyoti Barua, Group Chief Financial Officer, Mahindra & Mahindra, “Our solid Q2 consolidated results reflects the strength of our diversified portfolio. We continue to deliver on our strategic priorities. We had strong cash generation in the first half, delivering over INR 100 billion of operating cash flow. We remain committed to sustainable growth and value creation.”

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