Latest news with #NalinikanthGollagunta
Time of India
2 days ago
- Automotive
- Time of India
Car Sales Stick to Slow Lane in May
HighlightsIndia's passenger vehicle market saw a marginal year-on-year increase of 0.1%, with approximately 352,000 vehicles sold in May 2024. Mahindra & Mahindra achieved a significant sales increase of 21%, selling 52,431 units, while Tata Motors experienced an 11% decline in sales to 41,557 units during the same period. Toyota Kirloskar Motor reported a 22% growth in sales, reaching 29,280 units, driven primarily by demand for Multi-Purpose Vehicles and Sports Utility Vehicles. India's passenger vehicle market remained flat in May even as Mahindra & Mahindra (M&M) and Toyota Kirloskar Motor clocked strong double-digit growth in volumes, riding on robust demand for their utility vehicle lineups. Overall, the industry sold about 352,000 cars, sedans and utility vehicles last month, marking a marginal 0.1% year-on-year increase, according to initial industry estimates. 'There is pressure in the market,' said a senior industry executive who requested not to be identified. 'But we also have to remember that the base is now very high. India is one of the very high markets in the world…selling more than four million passenger vehicles annually. So, even if the growth is modest, and is likely to remain so for some time, volumes are still good,' the person added. Retail sales are estimated to have declined by 0.8% year on year in May, industry insiders said. Most automakers in India report wholesale figures—factory dispatches to dealerships—and not retail sales to customers. Demand in the local market continues to be driven by SUVs. Homegrown auto major Mahindra continued to maintain its lead over rival Tata Motors in May, powered by demand for its range of utility vehicles. Mahindra sold 52,431 units last month, up 21% over 43,218 units sold in May 2024. Tata Motors' passenger vehicle sales fell 11% to 41,557 units from 46,697 units during the same period. 'Thanks to continued demand for our products, we were able to deliver industry-leading growth across our ICE (internal combustion engine powered by petrol or diesel) and BEV (battery electric vehicles) portfolio,' said Nalinikanth Gollagunta, CEO of automotive division at M&M. Toyota Kirloskar reported an increase of 22% to sell 29,280 units last month, with MPV and SUV segments continuing to be the primary growth drivers.
Business Standard
2 days ago
- Automotive
- Business Standard
M&M gains as total sales rises 17% YoY to 84,110 units in May'25
Mahindra & Mahindra added 1.55% to Rs 3,024.55 after its overall auto sales grew by 17.33% to 84,110 vehicles sold in May 2025 as against 71,682 vehicles sold in May 2024. On a month-on-month basis, Mahindra & Mahindras (M&M) total auto sales declined 2.11% in May 2025 compared to 85,925 units sold in April 2025. In the utility vehicles segment, the company sold 52,431 vehicles in the domestic market, registering a growth of 21% YoY and overall, 54,819 vehicles, including exports. The company sold 21,392 units of commercial vehicles (LCV+MHCV) in May 2025, down 46.05% from 39,652 units sold in May 2024. Three-wheelers (including electric 3Ws) sales grew 11% YoY to 6,635 units in May 2025. Total exports for the month stood at 3,652 vehicles, registering a growth of 37% on YoY basis. Nalinikanth Gollagunta, CEO, Automotive Division, M&M, In May, we achieved SUV sales of 52,431 units, a growth of 21%, and total vehicle sales of 84,110 units, a 17% growth compared to the same month last year. Thanks to continued demand for our products, we were able to deliver industry-leading growth across our ICE and BEV portfolio. Further, the company's Farm Equipment Sector (FES) announced that its total tractor sales (domestic + exports) during May 2025 were at 40,643 units, up 9.52% from 37,109 units in May 2024. Domestic tractor sales grew by 10.43% to 38,914 units in May 2025, compared to 35,237 units sold in May 2024. Tractor exports fell 8% to 1,729 units in May 2025, compared to 1,872 units during the same period last year. Veejay Nakra, President Farm Equipment Business, Mahindra & Mahindra, said, We have sold 38914 tractors in the domestic market during May25, a growth of 10% over last year. Early advancement of above normal Southwest monsoon should bode well for kharif sowing. Land preparation activities are progressing well for paddy sowing. Approval of hike in MSP for Paddy and other kharif crops will bring positive sentiments among farmers. Better reservoir levels, Government announcement of record foodgrain production and introduction of various schemes will help farmers aim higher productivity going forward and in turn augur well for tractor demand. In the exports market, we have sold 1729 tractors. M&M Group enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India. It is the world's largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate. The auto major's standalone net profit surged 21.85% to Rs 2,437.14 crore in Q4 FY25 as against Rs 2,000.07 crore recorded in Q4 FY24. Revenue from operations increased 24.50% year on year (YoY) to Rs 31,353.40 crore in the quarter ended 31 March 2025.
Hindustan Times
2 days ago
- Automotive
- Hindustan Times
Thar, Scorpio N, XEV 9e, BE 6 push Mahindra to pip Tata Motors for second consecutive month
Mahindra has capitalised on the positive consumer sentiment for the SUVs with its range of utility vehicles. Mahindra has capitalised on the positive consumer sentiment for the SUVs with its range of utility vehicles. Check Offers Mahindra has outsold its homegrown archrival, Tata Motors, in the passenger vehicle sales chart in May 2025. Mahindra, in its regulatory filing, has stated that it sold 52,431 units of passenger vehicles in the Indian market, as compared to Tata Motors' 41,557 units recorded last month. This was the second straight month when Mahindra outsold Tata, as in April this year, the manufacturer of popular models like Thar, Scorpio N, etc., sold 52,330 units as compared to 45,199 units registered by the manufacturer of Nexon, Punch. With these numbers, Mahindra has recorded a 21 per cent year-on-year growth in its passenger vehicle sales. The OEM registered 43,218 units in the same month a year ago. In the year-to-date period (April-May 2025) this fiscal as well, Mahindra has registered a 24 per cent growth with 104,761 units, as compared to 84,226 units sold in the same period last fiscal. Mahindra has further stated in its official release that in the passenger vehicle segment, its overall sales were 54,819 units, including domestic retail numbers and exports. Mahindra has attributed this positive sales performance to the ever-increasing demand for SUVs, as well as upbeat confidence for battery electric vehicles. The automaker sells some of the most popular SUVs in India, which include Thar, Thar Roxx, Scorpio N, XUV 3XO, Scorpio Classic, XUV700, Bolero Neo, etc. In the electric vehicle segment as well, the automaker sells models like BE 6, XEV 9e, which have grabbed a lot of attention. 'Thanks to continued demand for our products, we were able to deliver industry-leading growth across our internal combustion engines (ICE) and battery electric vehicles (BEV) portfolio," said Nalinikanth Gollagunta, CEO, Automotive Division at Mahindra and Mahindra. Compared to other car makers who have varied offerings such as hatchbacks, sedans and SUVs, Mahindra's portfolio largely has SUVs, which have benefited from consumers' preference for larger cars. Data from Vahan has revealed that in April and May this year, Mahindra has sold about 94,843 passenger vehicles, which has cemented its place in the second position in the Indian PV market. Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape. First Published Date: 02 Jun 2025, 09:04 AM IST
Economic Times
3 days ago
- Automotive
- Economic Times
Passenger vehicle sales remain flat in May amid sluggish demand
Agencies Representational Image Sales of cars, sedans and utility vehicles remained largely flat last month, albeit on a high base, amid sluggish consumer demand in the local market. As per initial industry estimates about 352,000 passenger vehicles were sold last month, which is an increase of about 0.1% over the same period last fiscal. Automakers in India mostly report wholesale dispatches from factories to dealerships and not retail sales to customers. Retail sales are estimated to have dropped by 0.8% in this period, industry insiders said. A senior industry executive who did not wish to be identified said, 'There is pressure in the market. But we also have to remember that the base is now very high. India is one of the very high markets in the world which is selling more than 4 million passenger vehicles annually. So even if the growth is modest, and is likely to remain so for some time, volumes are still good.' Demand in the local market continued to be driven by SUVs last month, with companies like Mahindra & Mahindra (M&M) and Toyota Kirloskar Motor (TKM) clocking robust sales numbers. Market leaders Maruti Suzuki and Hyundai did not release sales numbers for May Sunday. Homegrown auto major Mahindra, in fact, continued to maintain its lead over rival Tata Motors in May, powered by demand for its range of utility vehicles. Mahindra sold 52,431 units last month, which is an increase of 21% over 43,218 units sold in May 2024. At Tata Motors, sales fell by 11% to 41,557 units in the same period. Nalinikanth Gollagunta, CEO, Automotive Division, M&M, said, 'Thanks to continued demand for our products, we were able to deliver industry-leading growth across our ICE and BEV portfolio.' Toyota Kirloskar Motor (TKM) reported an increase of 22% to sell 29,280 units last month. Varinder Wadhwa, Vice President, Sales-Service-Used Car Business, said, in line with overall market trends, the company's MPV and SUV segments continued to be the primary growth drivers—reflecting a clear shift in customer preference towards versatile mobility options.'With the onset of the monsoon and forecasts indicating a normal to above-normal season, we remain optimistic about improved market sentiment in the coming months, particularly across rural and semi-urban regions. This, backed by our vast product portfolio and innovative campaigns, we are well-positioned to maintain this growth trajectory', Wadhwa informed. Kia India and JSW MG Motor saw sales grow by 14% (to 22315 units) and 40% (to 6304 units), respectively. In the two-wheeler segment, demand remained healthy with Chennai-based TVS Motor Company reporting sales increase of 14% at 309,287 units in May. Sales of commercial vehicles was subdued. Market leader Tata Motors saw sales fall 9% to 25,872 units in the month under review. In the farm equipment sector, Mahindra sold 38,914 tractors last month, which is an increase of 10% over Veejay Nakra, President – Farm Equipment Business, Mahindra & Mahindra, said, 'Early advancement of above normal Southwest monsoon should bode well for kharif sowing. Land preparation activities are progressing well for paddy sowing. Approval of hike in MSP for Paddy and other kharif crops will bring positive sentiments among farmers. Better reservoir levels , Government announcement of record foodgrain production and introduction of various schemes will help farmers aim higher productivity going forward and in turn augur well for tractor demand.' COMPANY MAY 2024 MAY 2025 % CHANGE Mahindra & Mahindra 43218 52431 21 Tata Motors 46697 41557 -11 Toyota Kirloskar Motor 23928 29280 22.4 Kia India 19500 22315 14.4 JSW MG Motor India 4510 6304 40
Time of India
3 days ago
- Automotive
- Time of India
Passenger vehicle sales remain flat in May amid sluggish demand
Sales of cars, sedans and utility vehicles remained largely flat last month, albeit on a high base, amid sluggish consumer demand in the local market. As per initial industry estimates about 352,000 passenger vehicles were sold last month, which is an increase of about 0.1% over the same period last fiscal. Automakers in India mostly report wholesale dispatches from factories to dealerships and not retail sales to customers. Retail sales are estimated to have dropped by 0.8% in this period, industry insiders said. A senior industry executive who did not wish to be identified said, 'There is pressure in the market. But we also have to remember that the base is now very high. India is one of the very high markets in the world which is selling more than 4 million passenger vehicles annually. So even if the growth is modest, and is likely to remain so for some time, volumes are still good.' Demand in the local market continued to be driven by SUVs last month, with companies like Mahindra & Mahindra (M&M) and Toyota Kirloskar Motor (TKM) clocking robust sales numbers. Market leaders Maruti Suzuki and Hyundai did not release sales numbers for May Sunday. Homegrown auto major Mahindra, in fact, continued to maintain its lead over rival Tata Motors in May, powered by demand for its range of utility vehicles. Mahindra sold 52,431 units last month, which is an increase of 21% over 43,218 units sold in May 2024. At Tata Motors, sales fell by 11% to 41,557 units in the same period. Nalinikanth Gollagunta, CEO, Automotive Division, M&M, said, 'Thanks to continued demand for our products, we were able to deliver industry-leading growth across our ICE and BEV portfolio.' Toyota Kirloskar Motor (TKM) reported an increase of 22% to sell 29,280 units last month. Varinder Wadhwa, Vice President, Sales-Service-Used Car Business, said, in line with overall market trends, the company's MPV and SUV segments continued to be the primary growth drivers—reflecting a clear shift in customer preference towards versatile mobility options. 'With the onset of the monsoon and forecasts indicating a normal to above-normal season, we remain optimistic about improved market sentiment in the coming months, particularly across rural and semi-urban regions. This, backed by our vast product portfolio and innovative campaigns, we are well-positioned to maintain this growth trajectory', Wadhwa informed. Kia India and JSW MG Motor saw sales grow by 14% (to 22315 units) and 40% (to 6304 units), respectively. In the two-wheeler segment, demand remained healthy with Chennai-based TVS Motor Company reporting sales increase of 14% at 309,287 units in May. Sales of commercial vehicles was subdued. Market leader Tata Motors saw sales fall 9% to 25,872 units in the month under review. In the farm equipment sector, Mahindra sold 38,914 tractors last month, which is an increase of 10% over Veejay Nakra, President – Farm Equipment Business, Mahindra & Mahindra, said, 'Early advancement of above normal Southwest monsoon should bode well for kharif sowing. Land preparation activities are progressing well for paddy sowing. Approval of hike in MSP for Paddy and other kharif crops will bring positive sentiments among farmers. Better reservoir levels , Government announcement of record foodgrain production and introduction of various schemes will help farmers aim higher productivity going forward and in turn augur well for tractor demand.' COMPANY MAY 2024 MAY 2025 % CHANGE Mahindra & Mahindra 43218 52431 21 Tata Motors 46697 41557 -11 Toyota Kirloskar Motor 23928 29280 22.4 Kia India 19500 22315 14.4 JSW MG Motor India 4510 6304 40
