Mahindra & Mahindra Ltd. has overtaken Hyundai Motor India Ltd. as India's second largest carmaker for the first time, underscoring the “SUV-fication” of the world's third largest car market.
SUV sales of the Scorpio maker rose 19% year-on-year to 50,420 units in February 2025 as against 42,401 units in the year-ago period, according to an exchange filing on Saturday. In comparison, the Creta maker sold 47,727 units in the local market.
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“This strong performance is a result of a continued positive momentum for our SUVs,” Veejay Nakra, president (automotive division) at M&M, said in a release attached with the regulatory filing.
To be sure, the figures do not include exports.
In February 2025, Hyundai India's exports rose 6.8% year-on-year to 11,000 cars. M&M shipped 1,966 units abroad. In total, Hyundai India sold 58,727 passenger vehicles last month as compared to 52,386 by M&M.
“We are witnessing increasing global demand for our Made-in-India products, reflecting Hyundai's strong acceptance worldwide,” Tarun Garg, chief operating officer at Hyundai India, said in a statement. “By optimising exports, we will continue to reinforce HMIL's position as a key export hub for Hyundai Motor Company.”
“On the domestic sales front, despite geopolitical challenges, we remain optimistic that the proposed tax reforms in the Union Budget 2025 and improved liquidity will provide the much-needed demand boost to the market.”
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