Mahindra Gains Ground in June 2025; Tata & Maruti Show Mixed Signals Despite Sales Lead

The Indian Passenger Vehicle (PV) and Commercial Vehicle (CV) market saw a split performance in June 2025 and Q1 FY26, with legacy leaders like Maruti Suzuki and Tata Motors showing mixed trends, while Mahindra & Mahindra and Bajaj Auto delivered strong growth.

June 2025 Sales Highlights

Maruti Suzuki remained the volume leader, but declining by 6.3% YoY suggests pressure in the PV segment. On the other hand, Mahindra & Mahindra surged with 13.8% growth, indicating rising demand in both SUV and CV segments. Tata Motors faced the sharpest fall among top players, down 10.8%, pointing to challenges in market traction.

Bajaj Auto and Ashok Leyland posted healthy gains, while Eicher Motors dipped marginally. Hyundai’s YoY data wasn't available due to a lack of June 2024 base figures.

 Q1 FY26 Performance Overview

Mahindra emerged as the top gainer in Q1, growing 16.9% YoY—driven by solid SUV traction and rising CV demand. Eicher Motors and Bajaj Auto also continued to post steady double-digit gains. While Maruti Suzuki managed marginal growth, Tata Motors saw a substantial 8.5% drop, mirroring pressure from both the PV and CV sides.

 Key Takeaways

• Mahindra & Mahindra: Strong growth across both months indicates market share gains, led by rising SUV and rural demand.
  
  
• Maruti Suzuki: Still dominant in volume, but growth is stagnating, possibly due to limited portfolio refresh or EV play.
  
  
• Tata Motors: Facing volume and growth headwinds; needs aggressive strategy revamp in both passenger and commercial segments.
  
  
• Bajaj Auto & Eicher Motors: Continue to benefit from premium positioning and export demand in select categories.
  
  
• Hyundai: Volume remains high, but YoY comparison isn't available.
  
  

Market Outlook

The automobile market is increasingly favoring innovation-driven and segment-diverse players. Mahindra’s consistency suggests it is capitalizing on demand dynamics better than legacy peers. While Maruti and Tata still dominate by numbers, growth-focused investors may prefer the rising stars.