The three-way tussle between Tata Motors, Hyundai Motor India and Mahindra & Mahindra seems to be heading for a resolution.
01 May 2025 | 11314 Views | By Arunima Pal
Mahindra & Mahindra (M&M) seems to be emerging as the clear number two player in India's competitive automotive market, posting impressive April 2025 sales that outpaced both Tata Motors and Hyundai by a significant margin.
The homegrown auto major reported total sales of 84,170 units in April, representing a ...
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Mahindra & Mahindra (M&M) seems to be emerging as the clear number two player in India's competitive automotive market, posting impressive April 2025 sales that outpaced both Tata Motors and Hyundai by a significant margin.
The homegrown auto major reported total sales of 84,170 units in April, representing a robust 19% year-on-year growth. More significantly, M&M's SUV sales surged by an impressive 28% to 52,330 units, firmly establishing its dominance in the highly lucrative utility vehicle segment.
"Building on the strong momentum of last year's performance, we began the year on a strong note in April by achieving SUV sales of 52,330 units, a growth of 28% and total vehicle sales of 84,170 units, a 19% growth over the same month last year," said Veejay Nakra, President, Automotive Division, M&M Ltd. "These numbers indicate the strength of our portfolio and customer offerings."
The stellar performance stands in stark contrast to the struggles faced by its key competitors. Tata Motors reported a 6% decline in passenger vehicle sales, with domestic PV shipments falling to 45,199 units in April 2025 compared to 47,883 units in April 2024. This represents a gap of over 7,000 units compared to M&M's passenger vehicle sales.
Hyundai Motor India faced an even steeper decline, with domestic shipments plummeting 8.9% year-on-year to 44,374 units in April 2025, creating a substantial gap of nearly 8,000 units against M&M's passenger vehicle division.
This performance represents a significant shift in the competitive landscape, with M&M now firmly establishing itself as the second-largest passenger vehicle manufacturer in India by shipments, behind only Maruti Suzuki.
While M&M's passenger vehicle division was the star performer, its commercial vehicle segment showed mixed results. The company reported total domestic CV sales of 22,989 units for April, with its LCV 2T–3.5T segment growing by 9% to 19,141 units and LCV>3.5T and MHCV segment rising 10% to 1,196 units.
However, the smaller LCV<2T segment experienced a 21% decline to 2,652 units, mirroring similar challenges faced by Tata Motors in its Small Commercial Vehicle segment, which saw a 23% decline.
The April sales figures tell a tale of contrasting fortunes for India's top automakers. While M&M has capitalized on strong demand for its SUV portfolio led by models like the Scorpio-N and XUV700, both Tata Motors and Hyundai have struggled to maintain momentum.
Tata Motors' commercial vehicle segment saw an 8% year-on-year decline in April to 27,221 units, with domestic CV sales falling 10% to 25,764 units. The company's SCV cargo and pickup segment was particularly hard hit, with sales plunging 23% to 9,131 units, reflecting persistent financing challenges faced by first-time users and rental customers.
Tata's passenger vehicle division, including electric vehicles, registered a 5% year-on-year decline to 45,532 units. Electric vehicle sales continued their downward trend with a 16% decline to 5,318 units, extending the challenging pattern seen throughout FY25.
Similarly, Hyundai appears to be grappling with inventory challenges, with its April wholesale drop to 44,374 units representing a reduction of 7,446 units from March, suggesting dealers may be cautious amid softer-than-expected retail demand.
M&M's stellar performance in April suggests the company's focused strategy on SUVs is paying dividends in a highly competitive market. With strong export growth of 82% and a positive outlook for its tractor division, which grew 8% to 38,516 units in April, M&M appears well-positioned to maintain its momentum through 2025.
As the competitive dynamics of India's automotive market continue to evolve, M&M's ability to outpace both Tata Motors and Hyundai marks a significant milestone in its ascent to becoming a dominant force in the country's passenger vehicle segment.
The April numbers also suggest that M&M may build upon its retail success in March, when it had already outperformed Hyundai by selling 48,462 units at the retail level compared to Hyundai's 42,511 units, according to data from the Federation of Automobile Dealers Associations (FADA).
With its strong product portfolio and growing market acceptance, the question now is whether M&M can sustain this impressive performance through the remainder of 2025, potentially cementing its position as India's second-largest passenger vehicle manufacturer behind Maruti Suzuki.