Key Highlights

• Maruti Suzuki: Sales flat at 1.68 lakh units

• Mahindra & Mahindra: 14% growth, led by SUVs

• Tata Motors: Sharp drop in both PV and CV sales

• TVS, Eicher, Escorts, and Hyundai posted solid growth

• Bajaj Auto: Sales growth remains nearly flat

Sector Overview: Growth in Pockets, Declines Elsewhere

India’s automobile industry reported mixed sales numbers for June 2025. While certain companies leveraged strong demand in the SUV and two-wheeler segments, others faced headwinds from a combination of demand fatigue, export challenges, and intensified domestic competition. This uneven performance reflects the broader uncertainty that continues to shape the sector’s trajectory in FY25.

Maruti Suzuki: Signs of Saturation at the Top

Maruti Suzuki reported total sales of 1.68 lakh units in June, with 1.30 lakh units sold in the domestic market and 37,842 units exported. The flat year-on-year performance highlights continued consumer preference for SUVs and premium features — areas where Maruti has been making inroads but still trails segment leaders. Despite its dominant position, the company’s growth is constrained by intensifying competition and limited traction in the high-margin SUV space.

Mahindra & Mahindra: SUV Demand Drives Double-Digit Growth

Mahindra & Mahindra delivered a strong performance with total vehicle sales at 78,969 units, a 14% year-on-year increase. Its SUV portfolio stood out, clocking 47,306 units, up 18% YoY. The company continues to benefit from robust rural and urban demand, thanks to a refreshed SUV lineup and a reputation for rugged, feature-rich models. With waiting periods still high for some models, M&M is expected to maintain this momentum.

Tata Motors: Passenger Vehicle Sales Plunge

Tata Motors reported total domestic sales of 65,019 units, with commercial vehicle (CV) sales down 5% at 30,238 units, and passenger vehicle (PV) sales dropping 15% to 37,237 units. The PV segment’s decline is particularly concerning, as Tata grapples with growing competition in both ICE and EV categories. Despite leading the EV market, pressure on margins and slower-than-expected volume growth suggest tougher times ahead for the automaker.

Hyundai Motor India: Exports Offset Domestic Weakness

Hyundai posted overall sales of 60,924 units, with exports accounting for 16,900 units. While year-on-year growth figures were not disclosed, exports played a key role in cushioning domestic market softness. Hyundai’s focus on feature-rich, mid-premium offerings continues to appeal to urban consumers, though the brand is now under pressure from newer entrants and aggressive pricing from competitors.

Eicher Motors : Royal Enfield Powers Strong Performance

Eicher Motors reported a 22% year-on-year jump in total sales to 89,540 units. Export growth was a standout, rising 79% YoY, reflecting growing global demand for Royal Enfield motorcycles in mid-weight categories. With rising international brand visibility and strategic launches, Eicher is successfully diversifying revenue streams while maintaining domestic market strength.

TVS Motor : Two-Wheeler Sales Surge on Product Strength

TVS Motor registered a 20% YoY increase, selling 4.02 lakh units, with two-wheeler sales mirroring the same growth rate. The uptick was driven by strong urban demand, new model launches, and expansion in the electric scooter category. The company continues to gain market share in both commuter and entry-level premium segments, aided by a strong dealership network and expanding product range.

Ashok Leyland: Growth Elusive Despite Infrastructure Push

Ashok Leyland reported sales of 15,333 units, flat on a year-on-year basis. While infrastructure projects have picked up, demand for medium and heavy commercial vehicles remains tepid. Industry observers note that the company may need to recalibrate its strategy to focus more on light commercial vehicles and fleet-level financing options to reignite growth in the coming quarters.

Escorts Kubota: Export Gains Cushion Domestic Slowness

Escorts Kubota reported a 2.2% increase in total sales to 11,498 units, driven by a remarkable 114.1% growth in exports. While domestic tractor demand remained steady, export performance reflected renewed traction in global agri-equipment markets. With stable monsoon projections and improving rural liquidity, the company expects consistent performance in upcoming months.

Bajaj Auto: Sluggish Growth Amid Competitive Pressure

Bajaj Auto recorded a modest 1% year-on-year increase in total sales to 3.61 lakh units. The company is facing stiff competition in the domestic two-wheeler market, especially in the commuter segment, and ongoing weakness in key export markets. While its three-wheeler segment remains a strength, a lack of strong new launches has limited overall momentum.

Final Word: A Sector at a Crossroads

The June auto sales data reveal a bifurcated market. On one hand, SUV and two-wheeler manufacturers are benefiting from strong brand positioning and consumer preference shifts. On the other, major players in the PV and CV segments are feeling the strain of competition, margin compression, and weaker rural demand. With the festive season approaching and global headwinds persisting, the coming months will be critical for the industry’s performance trajectory in FY25.

Sources:

Company Filings,

Industry Reports,

Press Statements