Mahindra & Mahindra (M&M) has emerged as India's second-largest passenger vehicle manufacturer by volume in September, according to VAHAN registration data. The automotive giant recorded retail sales of 57,466 units, effectively overtaking Tata Motors Passenger Vehicles, which registered 55,926 units during the same period.
M&M Regains Market Position
This achievement marks a notable resurgence for M&M. The company had previously held the second position in FY26 but ceded it to Tata Motors during the first five months of FY27. Their strong September performance indicates a successful strategy in regaining market share.
Maruti Suzuki continued its dominance as India's largest carmaker, logging 169,433 registrations in September. Hyundai Motor India Ltd. secured the fourth spot with 49,998 units sold.
Wholesale Figures Show Growth Across Board
Beyond retail sales, wholesale figures—shipments from factories to dealerships—also painted a picture of growth for key players:
- Mahindra & Mahindra: Wholesales jumped 14% year-on-year to 64,092 units in September.
- Tata Motors Passenger Vehicles: Wholesales increased by 15% year-on-year to 68,810 units, significantly bolstered by the popularity of its subcompact SUV, the Punch.
- Maruti Suzuki: Clocked an impressive 181,838 passenger vehicle wholesales, a 37% year-on-year increase.
- Hyundai Motor India: Domestic wholesales rose by 10.9% year-on-year to 57,166 units.
Tata Motors Leads Electric Vehicle Segment
Despite M&M's overall passenger vehicle success, Tata Motors Passenger Vehicles maintains a commanding lead in the electric vehicle (EV) segment. Tata recorded 14,706 EV registrations in September, more than double M&M's 7,366 electric SUVs sold.
Electric vehicles now constitute over a quarter of Tata Motors Passenger Vehicles' total sales, a significant increase from 14% a year ago. Shailesh Chandra, managing director and CEO of Tata Motors Passenger Vehicles, highlighted the rapid growth, stating, "We have very swiftly moved to a penetration level of 25% in electric vehicles." He added that EV bookings now account for 30% of the automaker's total bookings, supported by a ramp-up in EV capacity from 8,000 to over 16,000 units annually.