Mahindra Beats Hyundai to Become India’s Second Largest Car Maker in February 2025

The Indian automobile industry is experiencing a major shift, with Mahindra & Mahindra surpassing Hyundai Motor India to become the second-largest automaker in February 2025. Mahindra achieved this milestone by recording a 19% year-on-year (YoY) growth, selling 50,420 units in the domestic market. This strong performance reflects the increasing demand for Mahindra’s SUVs, which have consistently shown robust sales over the past year.  

Sales Performance: Mahindra vs Hyundai

While Mahindra’s domestic sales stood at 50,420 units, Hyundai reported 47,727 units, a 4.93% decline compared to February 2024. However, when exports are included, Hyundai retained its second position with 58,727 total units sold, compared to Mahindra’s 52,386 units. Hyundai’s exports increased by 6.8% YoY to 11,000 units, while Mahindra exported 1,966 units.  

Factors Behind Mahindra’s Growth

Mahindra’s success in the Indian automobile market is largely due to the strong demand for its SUVs. Models like Thar Roxx, Scorpio N and XUV700 continue to attract a large number of buyers. The company’s newly launched electric SUVs, XEV 9e and BE 6, received an impressive 30,179 bookings on their very first day, highlighting the growing consumer interest in Mahindra’s offerings.   

Veejay Nakra, President of Mahindra’s Automotive Division, mentioned. “In February, we clocked SUV sales of 50420, a growth of 19% and 83702 total vehicles, a growth of 15%. This strong performance is a result of a continued positive momentum for our SUV portfolio.”

Hyundai’s Challenges and Future Outlook

Hyundai has faced challenges due to geopolitical issues and intense competition. Additionally, its new product launches have been limited, affecting overall sales. Hyundai’s top-selling SUVs like Venue and Exter are experiencing stiff competition in their segments.  

Despite these setbacks, Hyundai remains optimistic about future growth. Tarun Garg, COO of Hyundai Motor India, stated that tax reforms in the Union Budget 2025 and improved liquidity are expected to boost demand in the coming months.  

Stock Market Performance

As of March 03, 2025, at 10:45 AM, the shares of M&M are trading at ₹2,617.40 per share, reflecting a surge of 1.25% from the previous closing price. Over the past month, the stock has registered a loss of 17.52%. The stock’s 52-week high stands at ₹3,270.95 per share, while its low is ₹1,788.80 per share.

Conclusion 

Mahindra’s impressive growth in the domestic market highlights its strong product portfolio and rising consumer preference for SUVs, positioning it as a formidable competitor in India’s automobile sector.

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