Country’s Automobile major, Mahindra & Mahindra has finally claimed the Number 2 slot in sales of passenger vehicles.
Mahindra & Mahindra Claiming Second Position
Not only this, the vehicle maker also demands for its premium off-roaders.
This simply indicates that the company has moved ahead of Korean Hyundai in revenue market share while getting the crown of the largest SUV seller in the country.
M&M has claimed this position with the remarkable sale of SUVs such as Scorpio-N, Thar, XUV7OO and XUV3XO.
Considering the same, the company’s revenue in April-Jan 2024-25 stood at nearly Rs 71,000 crore.
Again, it appears to be much ahead of Hyundai’s Rs 58,653 crore and that of others like Toyota (Rs 51,945 crore) and Tata Motors (Rs 48,976 crore), as indicated by the data accessed from research firm Jato.
Maruti Leading The Segment
On the other hand,, the largest PV player in the country, Maruti leads the segment with a revenue of over Rs 1.2 lakh crore.
The company has a clear focus on maintaining its volume and value leadership in SUVs, while driving in new “adventure-ready” off-roaders, said Rajesh Jejurikar, executive director & CEO of Mahindra’s automotive and farm divisions.
Further adding, “For us, revenue market share is a more critical metric, and so is having the top position in SUVs. And in this process, if we also become the No. 2 PV player during certain periods, that’s clearly an added bonus for us.”
So far, Maruti leads the PV revenue market with a share of 30%, Mahindra comes in second with 17%, Hyundai third with 14%, Toyota fourth with 12.5%, and Tata Motors fifth with 12% (in ten months of this fiscal), as per the data revealed by JATO.
Gaining From Growing Demand For SUVs
Mahindra emerged as the second-largest PV seller (behind only Maruti Suzuki) during January this year by selling 50,420 units against 47,727 sold by Hyundai.
Now, the company expects demand to come back following income tax relaxation given in the Union Budget, said Tarun Garg, chief operating officer of Hyundai India.
Adding, “Despite geopolitical challenges, we remain optimistic that the proposed tax reforms in the Budget and improved liquidity will provide the much-needed demand boost.”
In the case of Mahindra, the company has clearly gained from the growing demand for SUVs.
Especially in current times as the company refreshed its aging fleet at a time considering the positive trend started to build up for off-roaders.
Besides this, rapidly-developing highways, better inter-city connectivity, and changing lifestyle trends have fuelled the demand for SUVs further giving them a share in excess of 50%.
