M&M Races to No. 2 in September Passenger Vehicle Sales

Mahindra & Mahindra (M&M) moved into the second position among India’s passenger vehicle makers by September retail registrations, according to VAHAN data. M&M recorded 57,466 registrations, narrowly ahead of Tata Motors Passenger Vehicles (TMPV), which registered 55,926 units. Hyundai Motor India followed with 49,998 registrations, while Maruti Suzuki retained the top spot with 1,69,433 registrations.

M&M had finished FY26 as India’s second-largest passenger vehicle maker but slipped behind Tata Motors Passenger Vehicles during the first five months of FY27. On the wholesale front, M&M reported a 14% year-on-year increase to 64,092 units in September. Tata Motors recorded 68,810 passenger vehicle wholesales, up 15%, while Maruti Suzuki posted 1,81,838 units, marking 37% year-on-year growth. Hyundai’s domestic wholesales increased 10.9% to 57,166 units.

Tata Motors continued to lead India’s passenger EV market in September, recording 14,706 EV registrations compared with 7,366 electric SUVs from M&M. EVs accounted for more than one-fourth of Tata Motors Passenger Vehicles’ sales, up from 14% a year earlier. The company has also increased its annual EV capacity from 8,000 units to more than 16,000, while EV bookings now represent around 30% of its total bookings, according to Shailesh Chandra, MD and CEO of Tata Motors Passenger Vehicles.

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