Tata Motors pips M&M, Hyundai to become 2nd biggest carmaker in March

Homegrown auto giant Tata Motors Ltd has emerged as India’s second-largest carmaker in March 2025 as it sold more cars than South Korean carmaker Hyundai Motor India and Mahindra & Mahindra (M&M).

Tata Motors clocked 47,157 registrations in March of which 42,479 were fossil fuel-powered cars and 4,678 were EVs, according to data sourced from Vahan.

Mahindra & Mahindra (M&M) secured the third spot in terms of volumes. M&M recorded retail sales of 46,313 vehicles in March: 44,698 ICE (internal-combustion engine) sport utility vehicles and 1,615 electric vehicles. M&M started deliveries of its electric origin SUVs last month.

Hyundai Motor India, with retail sales of 42,368 units, occupied the fourth spot in passenger vehicle sales for the second consecutive month. M&M had overtaken Hyundai to become the second biggest carmaker in February.

India’s largest carmaker, Maruti Suzuki India Ltd witnessed retail sales of 1.32 lakh units in March. To be sure, Vahan data does not include retail sales in Telangana.

Japanese auto major Toyota Kirloskar Motor clocked retail sales of 23,328 units last month, emerging as the fifth largest carmaker in India by volumes. Kia India recorded retail sales of 21,915 units. JSW MG Motor India sold 5,133 cars, with the MG Windsor EV achieving the highest-ever monthly sales since its launch. MG's electric vehicles—Comet, ZS EV, and Windsor—accounted for 85% of total sales by the carmaker.

Wholesales of passenger vehicles, dispatches from the factory shop floor to dealerships, are expected to reach 4.3 million units in FY25, reflecting a modest 2% growth. SUVs continued to dominate the market with double digit growth and accounted for around 55% of new car sales.

Tata Motors' wholesales for FY25 declined 3% year-on-year to 5.56 lakh units. India's biggest electric carmaker's EV wholesales fell 13% to 64,276 units in FY25 from 73,833 units in FY24.

Mahindra & Mahindra's wholesales stood at 48,048 vehicles in the domestic market in March, a growth of 18% and overall, 50,835 vehicles, including exports. M&M closed the year with 5.51 lakh SUVs, the highest ever in its history, recording a growth of 20%. It also closed the year with the highest Vahan registrations with 20% growth in FY25, helping it maintain dealer inventory levels. M&M is India’s second-largest passenger vehicle manufacturer by revenue.

Kia India recorded domestic wholesales of 25,525 units, reflecting 19.3% year-on-year growth compared to 21,400 units in March 2024. The Sonet remained the top contributor, accounting for 30% of sales, followed by Seltos, Carens and Syros with 26%, 22% and 20%, respectively. Kia India achieved annual wholesales of 2,55,207 units in FY25, registering a 4% growth compared to 2,45,634 units in FY24.