Mahindra & Mahindra has emerged as the second-best-selling car manufacturer in India for February 2025, surpassing Hyundai by 2,693 units in domestic sales. While Hyundai Motor India Limited (HMIL) reported 47,727 units in domestic sales and 11,000 exports, Mahindra outpaced its rival with 50,420 units sold, achieving a 19% year-on-year (YoY) growth. This marks a significant shift in the Indian automotive market, reinforcing Mahindra’s growing dominance in the SUV space.
Mahindra’s SUV Success Story
The key driver behind Mahindra’s sales surge has been its strong SUV lineup, which includes models like the XUV700, Scorpio, Thar, BE 6, and XEV 9e. The company has strategically capitalized on the rising demand for SUVs, with no sales recorded for cars or vans. Its total YTD (April 2024 – February 2025) sales stand at 5,03,439 units, marking an impressive 20% YoY growth.
New Launches Fueling Growth
Recent launches like the XUV 3XO (facelifted XUV300) and the Thar Roxx (five-door variant) have gained significant traction. Additionally, Mahindra’s entry into the electric vehicle (EV) segment with the XEV 9e and BE 6 has further strengthened its market position. The brand is now testing an electric version of the XUV 3XO, positioned to compete with the Tata Punch EV. The upcoming XEV 7e, a three-row electric SUV, is expected to offer a 500+ km range and will be positioned below the XEV 9e.
Hyundai’s Strategy & Market Challenges
Hyundai, despite being pushed to third place, continues to expand its portfolio. The recent Creta facelift has helped it retain leadership in the midsize SUV segment, and new launches like the second-gen Venue and a hybrid SUV above the Alcazar are in the pipeline. Hyundai’s export performance remained strong, with 6.8% YoY growth in February 2025.
Mahindra’s Export & Commercial Vehicle Performance
Mahindra’s export figures nearly doubled, with 3,061 units shipped in February 2025, marking a 99% YoY growth. The YTD export tally reached 30,566 units, reflecting a 32% surge compared to the same period last year.
In the commercial vehicle (CV) and three-wheeler (3W) segments, Mahindra recorded 30,221 units in February 2025. Notably:
- LCV (2T – 3.5T): 19,155 units (+9% YoY)
- LCV (>3.5T & MHCV): 1,381 units (+23% YoY)
- Three-wheelers: 6,395 units (+4% YoY)
However, the LCV (<2T) segment saw a 21% YoY decline, with sales dropping to 3,290 units.
Mahindra’s Future Outlook
Mahindra’s production ramp-up and new model pipeline suggest continued momentum in 2025. Veejay Nakra, President of Mahindra’s Automotive Division, stated,
“In February, we clocked SUV sales of 50,420, a growth of 19%, and total vehicle sales of 83,702, a 15% increase. This strong performance is a result of continued positive momentum for our SUV portfolio.”
With its aggressive expansion into EVs, strong SUV demand, and increasing exports, Mahindra is well-positioned for sustained growth in the Indian automotive market.
Passenger Vehicles Sales (Domestic)
| Category | February 2025 | February 2024 | % Change | YTD February 2025 | YTD February 2024 | % Change |
|---|---|---|---|---|---|---|
| Utility Vehicles | 50,420 | 42,401 | 19% | 5,03,439 | 4,19,233 | 20% |
| Cars & Vans | 0 | 0 | 0% | 9 | 13 | -100% |
| Total Passenger Vehicles | 50,420 | 42,401 | 19% | 5,03,439 | 4,19,246 | 20% |
Commercial Vehicles & 3-Wheelers Sales (Domestic)
| Category | February 2025 | February 2024 | % Change | YTD February 2025 | YTD February 2024 | % Change |
|---|---|---|---|---|---|---|
| LCV < 2T | 3,290 | 4,146 | -21% | 35,465 | 40,081 | -12% |
| LCV 2T – 3.5T | 19,155 | 17,554 | 9% | 1,98,102 | 1,90,175 | 4% |
| LCV > 3.5T + MHCV | 1,381 | 1,125 | 23% | 11,569 | 11,624 | 0% |
| 3-Wheelers | 6,395 | 6,158 | 4% | 78,080 | 72,310 | 8% |
Exports
| Category | February 2025 | February 2024 | % Change | YTD February 2025 | YTD February 2024 | % Change |
|---|---|---|---|---|---|---|
| Total Exports | 3,061 | 1,539 | 99% | 30,566 | 23,090 | 32% |
