Mahindra & Mahindra Ltd. (M&M) continues to demonstrate remarkable growth in the Indian automotive market, reporting a stellar 19% increase in SUV sales for February 2025. The company sold 50,420 SUVs domestically, rising from 42,401 units compared to February 2024. This sales momentum is bolstered by M&M's overall performance, with total auto sales—including exports—reaching 83,702 vehicles, marking a 15% year-on-year growth.
Veejay Nakra, President of M&M's Automotive Division, remarked on this success, stating, "This strong performance is a result of continued positive momentum for our SUV portfolio." Notably, this marks the fourth time within six months where Mahindra has dispatched over 50,000 SUVs in one month, securing its dominance within India's competitive utility vehicle segment.
While the domestic passenger vehicle sales soared, Mahindra's commercial vehicle segment showed mixed results. The company recorded 23,826 units sold, with significantly varying performances across its categories. Light commercial vehicles (LCVs) weighing between 2-3.5 tons saw a 9% increase, achieving sales of 19,155 units, whereas those under 2 tons saw a sharp decline of 21% to 3,290 units. On the brighter side, the LCV segment greater than 3.5 tons and medium heavy commercial vehicles (MHCVs) recorded a 23% growth, tallying 1,381 units sold.
An impressive uptick was noted in export figures, as Mahindra exported 3,061 units, representing a remarkable 99% increase compared to the 1,539 units shipped out during February 2024. Year-to-date exports have also demonstrated growth, rising by 32% to reach 30,566 units.
Meanwhile, Hyundai Motor India (HMIL) kept pace with the sales frenzy, logging total monthly sales of 58,727 units for February 2025. This total consisted of 47,727 units sold domestically and 11,000 units exported, reflecting a 16% growth when juxtaposed against the previous year, where Hyundai sold 50,201 vehicles. Tarun Garg, the Whole-time Director and COO at HMIL, stated, "We are witnessing increasing global demand for our products, reflecting Hyundai's strong acceptance worldwide." This observation is particularly true as Hyundai noted increases not just domestically but also with exports, which rose by 6.8%.
The promising figures from Hyundai come amid expectations for positive effects stemming from proposed tax reforms within the Union Budget 2025, which officials believe could drive consumer demand.
Looking at other industry players, Tata Motors, Maruti Suzuki, and other leading manufacturers are expected to release their February sales data soon, creating anticipation for competitive updates within the sector.
A significant shift is also noted within the two-wheeler market, highlighted by Ola Electric. With 25,000 units sold in February 2025, Ola has reacquired its leadership position after seeing its market share slide over previous months. The company currently holds over 28% share of the market, showcasing strong recovery within the electric two-wheeler segment.
Overall, February 2025 has been celebrated for remarkable growth across various segments of the automotive industry, reflecting increased consumer confidence, enhanced vehicle offerings, and favorable economic conditions. With numerous automakers gearing up for fresh launches and bolstered by strategic initiatives, the trend is likely to continue as India’s auto market evolves.
With the advent of new models and refreshing lineups, February has set the stage for even more significant momentum as manufacturers like Mahindra launch new electric vehicles (EVs), such as the BE 6 and XEV 9e, garnering consumer interest.
With both domestic and export sales thriving, the outlook for the Indian automotive industry remains buoyant as it heads toward the upcoming months, reinforcing its status as one of the world's largest automotive markets.