Highlights:
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Mahindra became the second-largest carmaker in India
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Mahindra (+1.5%) gained significant market share by posting 18% growth
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Toyota, Kia, Skoda, & MG gained market share due to new product launches in 2024 & 2025
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The top six brands control 93% of the Indian passenger vehicle market
Brand Analysis
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Mahindra became the second-largest carmaker in India
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Mahindra (+1.5%) gained significant market share by posting 18% growth
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After 17 long years (since 2008) Hyundai lost its #2 position and dropped to #4 spot in 2025
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Maruti lost 1.1% market share due to low single-digit (3%) growth in 2025
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Honda, Volkswagen, Renault, and Jeep suffered 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 acquired Nissan’s 51% stake in the Indian manufacturing plant (RNAIPL)
Brand growth driven by multiple products
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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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56% of Toyota’s sales came from Maruti’s cross-badged products, which had 28% growth
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Toyota is the only brand that has massive pull in luxury segment, with products priced in crores
Brand growth driven by a single new product
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Kia, Skoda, & MG gained market share due to new product launches in 2024 & 2025
