M&M edges ahead of Tata Motors in September, grabs number 3 spot

Mahindra & Mahindra (M&M) has made a significant leap in India's automotive market, surpassing Tata Motors for the first time in over five years. M&M posted its highest-ever monthly sales in September 2024, coming in just 39 units behind Hyundai for the number two spot.

Impressive Sales Figures

M&M recorded sales of 51,062 units in September, a 24% increase from the previous year's 41,267 units. The company also exported 1,528 vehicles made in India. In contrast, Tata Motors sold 41,063 units, an 8% decline from their 44,809 units in September 2023. This marks a notable lead of 9,999 units for M&M over Tata Motors, placing M&M as the third-largest player in India's passenger vehicle market, following Maruti Suzuki (144,962 units) and Hyundai Motor India (51,101 units).

Popular Models and New Launches

M&M's robust performance was driven by strong demand for its popular models such as the Bolero, Scorpio, Scorpio-N, and XUV700. The company also launched the five-door version of its off-road-centric Thar SUV, the Thar Roxx, on August 15, with bookings set to open on October 3. Additionally, the revamped XUV 3XO compact SUV, launched in May, is experiencing strong demand due to its feature-rich package and value-for-money pricing starting at Rs 7.49 lakh.

Veejay Nakra, President of the Automotive Division at M&M, commented, “We sold 51,062 SUVs in September, recording a growth of 24%, and 87,839 vehicles in total, registering a 16% year-on-year growth. As we enter the festive season, we will open the bookings for the Thar Roxx on October 3.”

Tata Motors’ Strategic Adjustments

Despite Tata Motors' recent expansion into the mid-size SUV segment with the launch of the Curvv SUV coupe on September 2, the company faced a decline in sales. Shailesh Chandra, MD of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, attributed the decline to slow consumer demand and seasonal factors. “In Q2 FY25, the PV industry saw more than a 5% decline in retails compared to Q2 FY24, driven by slow consumer demand and seasonal factors. In contrast, the industry offtake was significantly higher than registrations in anticipation of a strong start to the festive season, resulting in a continued build-up of channel stock. Registrations picked up pace towards the end of the month which augurs well for the festive period ahead,” Chandra explained.

Tata Motors registered wholesales of 130,753 units in Q2 FY25, adjusting wholesales to lower-than-expected retails to maintain channel inventory. “The Curvv has received an excellent response and our market-facing interventions have been well received, generating a strong pipeline,” Chandra added.

M&M's recent achievements highlight its growing dominance in the SUV market, while Tata Motors continues to navigate through challenging market conditions with strategic adjustments and new product launches.