Header: Mahindra beats Hyundai in car sales & revenue: The Indian giantOutranks its Korean counterpart in the market
Introduction
The Indian automotive market has witnessed significant growth, with various players vying for top positions in terms of sales and revenue. In this article, we will delve into the latest developments in the market, specifically examining how Mahindra & Mahindra has outperformed Hyundai in car sales and revenue.
Why is it significant?
The Indian market has seen a surge in demand for SUVs, which has led to a corresponding increase in sales for companies that focus on this segment. With its range of successful SUVs like the Scorpio-N, Thar, XUV7OO, and XUV3XO, Mahindra has garnered significant attention. Meanwhile, Hyundai has also been working to improve its offerings, but the Indian manufacturer has managed to stay ahead in terms of sales and revenue.
The numbers say it all
According to data from research firm Jato, Mahindra & Mahindra has recorded a significant revenue of nearly Rs. 71,000 crore in the period between April and January in the financial year 2024-25. In contrast, Hyundai’s revenue has stood at around Rs. 58,653 crore. This puts Mahindra ahead of other major players like Toyota (Rs. 51,945 crore) and Tata Motors (Rs. 48,976 crore).
What’s driving the demand for SUVs?
The growing trend towards SUVs is attributed to various factors, including the development of highways and inter-city connectivity, along with changes in lifestyle and consumer preferences. This shift has led to an increase in demand for SUVs, which has further influenced the market dynamics in India.
What’s next for Mahindra?
In an exclusive interview with TOI, Rajesh Jejurikar, executive director & CEO of Mahindra’s automotive and farm divisions, discussed the company’s plans. He emphasized the focus on volume and value leadership in SUVs while introducing new "adventure-ready" off-roaders. "For us, revenue market share is a more critical metric, and so is having the top position in SUVs. And in the process, if we also become the No. 2 PV player during certain periods, that’s clearly an added bonus for us," Jejurikar explained.
What about Hyundai?
Despite the challenges, Tarun Garg, chief operating officer of Hyundai India, remains optimistic. He believes that the proposed tax reforms in the Union Budget and improved liquidity will help boost demand. "Despite geopolitical challenges, we remain optimistic that the proposed tax reforms in the Budget and improved liquidity will provide the much-needed demand boost."
Conclusion
In conclusion, Mahindra & Mahindra has emerged as the winner in the Indian automotive market, surpassing Hyundai in terms of sales and revenue. The company’s focus on SUVs, particularly its rugged and off-road capable models, has resonated with Indian buyers. As the demand for SUVs continues to grow, Mahindra is well-positioned to maintain its top spot in the market.
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