Highlights:
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Mahindra became the second-largest carmaker in India
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Mahindra (+2.2%) gained significant market share by posting 20% growth
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Toyota, Kia, Skoda, & MG gained market share due to new product launches in 2024 & 2025
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Besides them, every other player has lost market share
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The top six brands control 93% of the Indian passenger vehicle market
Manufacturer Analysis
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Mahindra became the second-largest carmaker in India
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Mahindra (+2.2%) gained significant market share by posting 20% growth
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Products launched in 2024 & 2025 were major growth drivers – Thar Roxx, XUV 3XO facelift, XEV 9e & BE 6
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Toyota, Kia, Skoda, & MG gained market share due to new product launches in 2024 & 2025
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54% of Toyota’s sales came from Maruti’s cross-badged products, which were a 31% growth
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Maruti, Hyundai, and Tata have lost considerable market share among the top players
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Honda, Renault, Skoda, Citroen, and Jeep have suffered massive de-growth in 2025
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The Indian market remains highly consolidated, with the top 6 players commanding 93% market share
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Renault announced its plans to acquire Nissan’s 51% stake in the Indian manufacturing plant (RNAIPL)
