Mahindra's SUV Sales Rise 26% in July to September as Auto Profit Jumps 55%
Mahindra leads the SUV market by revenue but ranks second by volume, and an unnamed rival edged it on electric SUV revenue share in the quarter.
Mahindra & Mahindra sold 1,83,397 SUVs in India in the three months to September, 26% up on the same quarter last year, and its automotive profit grew faster still. The auto business's consolidated net profit rose 55% to ₹2,388 crore, the company said in its second-quarter results on 5 November.
By revenue, Mahindra says it held 24.3% of the Indian SUV market in the quarter, the largest share of any carmaker. By volume it ranked second, its investor presentation shows.
The SUV figure matches the three monthly sales releases for July, August and September, which add up to 1,83,397 against 1,45,503 for the same period of 2025. Group net profit rose 25% to ₹4,588 crore on revenue of ₹57,553 crore.
Mahindra automotive figures, July to September 2026 and 2025 (results factsheet and monthly sales releases)
| Measure | Quarter to September 2026 | Quarter to September 2025 | Change |
|---|---|---|---|
| SUVs sold in India | 1,83,397 | 1,45,503 | Up 26% |
| Electric vehicles sold by Mahindra Electric Automobile | 22,864 | 12,404 | Up 84% |
| Auto revenue, consolidated | ₹37,756 crore | ₹27,171 crore | Up 39% |
| Auto operating profit (PBIT), consolidated | ₹3,319 crore | ₹2,538 crore | Up 31% |
| Auto PBIT margin, consolidated | 8.8% | 9.3% | Down 0.5 points |
Rajesh Jejurikar, who runs the auto and farm businesses, said SUV volume "grew 26% YoY and retained market leadership in revenue market share." Consolidated auto margin rose 110 basis points from the April to June quarter, he added.
Electric SUVs
Mahindra billed 23,345 electric SUVs in India in the quarter. That count includes the older XUV400 and the XUV 3XO EV alongside its newer electric models, and equals 12.7% of its SUV sales, against 11.0% across the industry, by the company's figures.
The XEV 9S made up 13,275 of them, more than half. Mahindra calls it the highest-selling electric vehicle in India for the quarter.
The BE 6 picked up after the Sporteq version arrived in mid-August. Bookings in the 46 days after that launch ran 93% above the 46 days before it, and enquiries rose more than 50%, Mahindra says.
On revenue, Mahindra took 30.1% of the electric SUV market in the quarter. That placed it second, behind a carmaker it does not name with 32.7%, according to JATO data quoted in its presentation. Over the full April to September half, Mahindra led with 32.3%.
Farm Business and October
The farm business went the other way. Tractor sales fell 6% to 1,16,027, which Mahindra put down to a shift in the festive season.
SUV growth has slowed since the quarter closed. October's domestic SUV sales rose only 2.4% to a record 73,338, against a strong October 2025 that had the GST cut and Diwali behind it.