Mahindra & Mahindra Banks on New Models, Strong SUV Lineup to Sustain Growth Momentum

Mahindra & Mahindra (M&M) expects its strong sales momentum to continue through 2026, supported by a differentiated SUV portfolio and new product launches, Executive Director and CEO (Auto & Farm Sectors) Rajesh Jejurikar said in an interaction with PTI. The automaker rose to the second position in India’s passenger vehicle market last year, ahead of Tata Motors Passenger Vehicles and Hyundai Motor India, driven by models such as the Thar Roxx and 3XO, along with refreshed versions of the Bolero and Bolero Neo.

Jejurikar said newly launched models — including the XUV 7XO and upcoming electric SUV XEV 9S — will help sustain the company’s growth trajectory, as customers continue to seek product innovation and freshness. Passenger vehicle wholesales in India hit a record 45.5 lakh units in 2025, with SUVs accounting for 55.8% of total sales, and M&M’s retail volumes growing 20% to 5,92,771 units during the year. He added that GST reforms have provided a major boost to demand, particularly in the light commercial vehicle segment, which has seen a turnaround after years of stagnation.

The company expects at least a 30% volume increase from the XUV 7XO over the XUV 700’s average monthly sales of 7,000 units. M&M is also expanding capacity, with additional output planned at its Chakan facility by 2027 and a new greenfield plant under evaluation. On the EV front, Jejurikar said the company remains optimistic and aims to sell around 7,000 electric vehicles by the end of the current fiscal, building on its present monthly run rate of 4,000–5,000 units.

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