Tata outshines Mahindra, Hyundai in October retail sales, extends lead for second month

The Nexon has been the major volume driver for Tata.

Homegrown auto giant, Tata Motors, retained its position as the country's second-largest passenger vehicle (PV) manufacturer in October 2025, surpassing Mahindra & Mahindra and Hyundai Motor India in retail sales for the second consecutive month. The growth was driven by the recent Goods and Services Tax (GST) rate rationalisation and strong festive demand.

According to data sourced from the Vahan portal on November 1, Tata Motors Passenger Vehicles retailed 74,705 units, including electric vehicles (EVs), in October 2025. In comparison, Mahindra sold 66,800 units, while Hyundai recorded 65,045 units during the month. Maruti Suzuki India continued to lead with retail sales of 2,38,534 units.

During the 30-day festive period from Navaratri (September 22) to Diwali (October 21), Tata delivered over 1,00,000 vehicles. This included more than 38,000 units of the Nexon and 32,000 units of the Punch, while overall Dhanteras-Diwali deliveries crossed 25,000 units.

On the festive performance, Tata Motors Passenger Vehicles MD and CEO Shailesh Chandra had earlier said the surge was supported by the company's full portfolio of cars and SUVs. "Furthermore, we believe this performance sets the tone for the rest of the fiscal, especially as we gear up for exciting new launches this year, complemented by sustained customer enthusiasm," he added.

In September 2025, Maruti Suzuki had retailed 1,23,242 units, followed by Tata at 41,151 units, Mahindra at 37,659 units and Hyundai at 35,812 units. On a month-on-month (m-o-m) basis, Maruti Suzuki grew 93.55% in October, Tata 81.54%, Mahindra 77.38% and Hyundai 81.63%.

PV Retail Sales

Source - Vahan

S&P Global Mobility Light Vehicle Production Forecasting Associate Director Gaurav Vangaal told Moneycontrol that the robust retail performance in October 2025 was underpinned by a confluence of favourable factors -- the festive season aligned with the rollout of GST 2.0 reforms, prompting a surge in deferred demand post-September 21.

"Despite logistical constraints, particularly a shortage of car carriers, original equipment manufacturers (OEMs) adeptly utilised the rail network to sustain dispatch momentum in October 2025. That said, the industry must remain cautious, as global disruptions in electronic component supply continue to pose a risk to production stability," he added.

Tata, Mahindra and Hyundai have been locked in a three-way contest for the second position in the domestic PV market for nearly two years, backed by their expanding model portfolios.

Tata's internal combustion engine (ICE) range includes the Tiago, Tigor, Altroz, Punch, Nexon, Curvv, Harrier and Safari, alongside EVs such as the Tiago.ev, Tigor.ev, Punch.ev, Nexon.ev, Curvv.ev and Harrier.ev. The company will launch the new Sierra on November 25.

On Tata's impressive show in October 2025, S&P's Vangaal said: "The company is reaping the rewards of its strategic focus on sub-4 metre SUVs like the Punch and the Nexon, which continue to resonate strongly with value-conscious urban buyers. With demand surging, we anticipate a production ramp-up this quarter. The upcoming launch of the Sierra could further energise the portfolio, though its impact on overall volumes will hinge on the speed and scale of its market rollout."

Mahindra's ICE portfolio comprises the Bolero, Bolero Neo, XUV 3XO, Thar, Thar Roxx, Scorpio Classic, Scorpio-N and XUV700, while its EV line-up features the XUV400, BE 6 and XEV 9e.

Hyundai's ICE offerings include the Grand i10 Nios, i20, Aura, Verna, Exter, Venue, Creta, Alcazar and Tucson, with the Creta Electric and Ioniq 5 representing its EV presence. The company will introduce the second-generation Venue on November 4.