M&M, Tata Motors run neck and neck in September retail sales

The race for the No. 2 spot in India’s car market is heating up between the country’s two homegrown automakers. After becoming as India’s second-largest passenger vehicle maker in 2025-26, Mahindra & Mahindra slipped to the third spot in the first half of FY27.

However, retail sales of the two automakers were neck and neck in September at around 57,800 units each, according to VAHAN registration data.

Tata Motors Passenger Vehicles and its electric vehicle arm Tata Paasenger Electric Mobility recorded registrations of 3,53,623 units in the first six months of FY27, compared with 3,44,670 SUVs sold by M&M, the data showed.

Maruti Suzuki, India’s biggest carmaker by volume, recorded registrations of 169,727 units in September. Hyundai Motor India Ltd recorded 50,163 registrations, occupying the fourth spot.

M&M’s wholesales, shipments from the factory shop floor to dealerships, jumped 14% year-on-year to 64,092 units in September. In comparison, Tata Motors Passenger vehicles' wholesales grew 15% year-on-year to 68,810 units, aided by the subcompact SUV Punch.

Meanwhile, Maruti Suzuki clocked passenger vehicle wholesales of 1,81,838 units, up 37% year-on-year. Hyundai Motor India’s domestic wholesales rose 10.9% year-on-year to 57,166 units in September.

In electric vehicles, Tata Motors Passenger Vehicles maintains its lead as the country’s top-selling EV maker by volume. TMPV recorded registrations of 14,706 EVs in September, twice those of the 7,366 electric SUVs sold by M&M.

Electric vehicles accounted for over one-fourth of Tata Motors Passenger Vehicles’ sales compared with 14% a year ago as the company’s EV demand continues to outstrip supply.

“We have very swiftly moved to a penetration level of 25% in electric vehicles,” Shailesh Chandra, the managing director and CEO of Tata Motors Passenger Vehicles, told reporters in September.

India’s biggest electric carmaker has ramped up its EV capacity from 8,000 units a year ago to over 16,000 units. EV bookings now account for 30% of the automaker’s total bookings, according to Chandra.