Mahindra & Mahindra, which registered its highest monthly wholesales (factory dispatches) of 73,338 SUVs in October, has also surpassed the 600,000 annual sales milestone for the second year in a row. Cumulative 10-month sales this year are 615,280 units, up 19% YoY (January-October 2025: 518,321 units).
At the start of November 2026, M&M was only 10,323 units shy of CY2025’s 625,603 SUVs—a gap which it would have bridged and then surpassed in the first 10 days of this month.
October 2026 and October 2025 – the first full month of GST 2.0 fuelled price cuts – are the only two instances of M&M crossing 70,000 monthly wholesales. The next best is September 2026 with 64,092 units.
October saw the launch of the XUV 3XO ZNG sub-4-metre compact SUV, Mahindra’s first proper attempt at a CNG SUV which promises CNG efficiency without the usual performance penalty.
The 3XO ZNG, which M&M claims has seen strong traction with customers soon after launch, is sold alongside the turbo-petrol, diesel and electric versions of the compact SUV.
M&M’s 10-month wholesales numbers (see above) reveal that Q1 (January-March 2026) with 183,800 units (up 23%) is its best quarter in the current year to date, ahead of both Q2 (April-June 2026: 174,745 units, up 15%) and Q3 (July-September 2026: 183,397 units, up 40%). Q4 (October-December 2026), which began with a record 73,338 units last month, could close in on 200,000 SUVs.
Nevertheless, what is sure is that M&M will drive past the 700,000 sales milestone with ease this year and even nudge the 750,000 units mark.
While passenger vehicle market leader Maruti Suzuki with 1.79 million units (up 23% YoY) remains a yawning distance away from both Tata Motors and M&M, Tata with 649,477 units (up 38% YoY) including 124,792 EVs is currently ranked second. This gives Tata Motors a lead of 34,197 units over Mahindra’s 615,280 units.
With two months left for this year to come to a close, Tata Motors’ strong lead over M&M puts the Nexon and Punch manufacturer in prime position to wrest back the No. 2 PV OEM rank it lost to Mahindra (625,603 units) in CY2025 when M&M outsold Tata (578,881 units) by 46,832 units.
Mahindra’s stellar show in CY2026 follows four years of rapid growth. The Mumbai-based Mahindra crossed the 400,000 milestone for the first time in CY2023 (433,172 units, up 29% YoY), surpassed 500,000 units in CY2024 (528,460 units, up 22% YoY) and hit a new calendar year high with 625,603 units in CY2025.
That’s 2.20 million Mahindra SUVs sold since January 2023 or 20% of the 11 million utility vehicles sold in India since the past 46 months.
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