Mahindra & Mahindra (M&M) shares jumped over 4% on Monday after the company reported strong sales for February 2025. The stock reached ₹2,695 on the Bombay Stock Exchange (BSE). M&M sold 83,702 vehicles in February, which is 15% more than the 72,923 vehicles sold in February last year.
In India, M&M’s utility vehicle sales increased 19% to 50,420 units, while exports nearly doubled, rising 99% to 3,061 units. Over the past five years, M&M shares have grown by 470%, making it a top-performing stock.
Meanwhile, Maruti Suzuki reported a 1% rise in total sales, reaching 199,400 units in February 2025. Sales of passenger vehicles in India went up 0.32% to 160,791 units, but light commercial vehicle sales dropped 13.31% to 2,710 units. Maruti’s exports also fell 13.5% to 25,021 units.
Maruti Suzuki’s profit rose 12.61% to ₹3,525 crore in the October-December 2024 quarter, with total sales increasing 15.51% to ₹36,802 crore. However, its stock fell 1.01% to ₹11,824.75 on the BSE.
In a big change, Mahindra has overtaken Hyundai to become the second-largest car seller in India, mainly because of the demand for SUVs like Scorpio-N, Thar, XUV700, and XUV3XO. Mahindra’s revenue from April 2024 to January 2025 stood at ₹71,000 crore, beating Hyundai’s ₹58,653 crore. Toyota and Tata Motors followed with ₹51,945 crore and ₹48,976 crore, respectively.
Maruti Suzuki is still the market leader with over ₹1.2 lakh crore in revenue.
In January 2025, Mahindra sold 50,420 vehicles, surpassing Hyundai’s 47,727 units. Rajesh Jejurikar, CEO of Mahindra’s automotive division, said the company is focused on leading in SUV sales and revenue rather than just total car sales.
SUVs are becoming more popular in India because of better roads, more highway travel, and changing lifestyles. Today, SUVs make up more than 50% of all car sales in the country, helping Mahindra grow faster.
