Mahindra Targets Over Rs 2 Lakh Crore in Automotive Revenues by FY-30, Sets Sights on Becoming World’s Fastest-Growing SUV Brand

Mahindra & Mahindra has outlined one of the most ambitious growth roadmaps in its history, targeting an 8X increase in automotive revenue between FY20 and FY30 as it aims to become the world’s fastest-growing SUV brand. The guidance was shared at the company’s Investor Day on November 20.

The company is targeting automotive revenue of ₹2.27 lakh crore by FY30, up sharply from ₹28,408.63 crore in FY20, reflecting one of the strongest decade-long expansion plans in India’s automotive industry. The target implies a 23% CAGR, supported by global-ready architecture, a deeper SUV portfolio, and entry into new international markets.

Mahindra has already delivered substantial growth midway through the decade. Between FY20 and FY25, auto consolidated revenue increased 3.2X, automotive standalone volumes doubled to 928,000 units, and consolidated PBIT surged 6X to ₹7,797 crore. This strong financial and operational trajectory forms the base for its aggressive FY30 aspiration.

The company also enters the next phase with entrenched leadership across key segments. Mahindra is India’s #1 SUV maker, #1 EV SUV brand, #1 LCV player, and the world’s largest tractor manufacturer by volume. It also holds leading positions in electric three-wheelers, used-car services, auto recycling, and rural NBFC lending — giving the group a strong competitive foundation from which to scale globally.

The next wave of products will be built on two global platforms — NU_IQ for future ICE SUVs and INGLO for EVs. Mahindra plans to launch a suite of “world-beating” SUVs from 2027 onward, including next-generation monocoque models, 4G adventure-ready variants and a new Global Pik Up designed for both right-hand-drive and left-hand-drive markets.

A significant pillar of the strategy is internationalisation. Mahindra has confirmed readiness for the UK, Australia, New Zealand, and South Africa, followed by a significant expansion into Europe’s LHD markets, marking its most extensive globalisation effort to date.

The FY30 revenue aspiration also translates into a 2.5X jump over FY25’s ₹90,825 crore base, implying a 20% CAGR between FY25 and FY30. Mahindra expects a combination of higher capacity utilisation, portfolio expansion, and export-driven scaling to support this momentum.

If executed as planned, the strategy could elevate Mahindra from a domestic SUV specialist into a credible global challenger — and potentially the world’s fastest-growing SUV brand by 2030.