Synopsis:
India’s leading automakers posted mixed sales in August 2025. Hyundai and Maruti Suzuki reported declines, while Tata Motors saw modest growth driven by commercial and EV sales. Mahindra’s SUV volumes fell amid GST-related inventory adjustments. The industry awaits clarity on GST restructuring, which could influence festive season demand.
India’s four-wheeler market witnessed a mixed sales performance in August 2025, with leading automakers Hyundai, Mahindra & Mahindra, Maruti Suzuki, and Tata Motors posting divergent trends across domestic and export segments.
While some players benefited from strong export traction, others reported declines in SUV and passenger car sales, reflecting cautious consumer sentiment ahead of the proposed GST restructuring.
1. Hyundai Motor India Ltd
Incorporated in 1996 as a wholly owned subsidiary of Hyundai Motor Company (HMC), Hyundai Motor India Limited is the second-largest passenger car manufacturer in India and also ranks as the country’s second-largest exporter of passenger vehicles. The company benefits from HMC’s advanced technology and extensive global portfolio, while paying royalties to its parent on both domestic and export sales.
The company has a market capitalization of Rs. 1,98,442.85 crore and its stock is currently trading at Rs. 2,442.25. Hyundai’s sales slipped 4.23 percent year-on-year to 60,501 units in August 2025, compared with 63,175 units in the same month last year. Domestic sales fell 11.14 percent to 44,001 units from 49,525 units a year ago, while exports rose 20.88 percent to 16,500 units from 13,650 units during the same period.
2. Mahindra & Mahindra Ltd
Founded in 1945 as a steel trading company, Mahindra & Mahindra has evolved into a diversified global group with operations spanning automobiles, agriculture, financial services, hospitality, and aerospace. The flagship firm of the Mahindra Group remains a leader in SUVs and tractors, supported by more than 100 subsidiaries worldwide.
Mahindra & Mahindra has a market capitalisation of Rs. 4,10,569.70 crore and is currently trading at Rs. 3,301.65. In August, the company’s SUV sales in the domestic market fell 9 percent year-on-year to 39,399 units, compared to 43,277 units in the same month last year.
Commenting on the decline, Nalinikanth Gollagunta, CEO of the Automotive Division, said, “With the final GST announcement approaching, we consciously decided to bring down the wholesale billing to minimise the stock being carried by our dealers.” He added that GST rationalisation would act as a “demand driver through the festive season.”
3. Maruti Suzuki India Ltd
Maruti Suzuki India, a subsidiary of Japan’s Suzuki Motor Corporation, has been the country’s largest passenger vehicle manufacturer since its inception in 1981. It is Suzuki’s biggest subsidiary globally, exporting cars to nearly 100 countries, with South Africa, Saudi Arabia, and Chile among its largest overseas markets.
The company commands a market capitalisation of Rs. 4,69,772.67 crore and its shares are currently priced at Rs. 14,909.95. Maruti Suzuki reported a moderate decline in total sales to 1,80,683 units in August 2025, against 1,81,782 units in the same month last year. Domestic passenger vehicle sales fell 8 percent year-on-year to 1,31,278 units from 1,43,075 units.
In the mini segment (Alto and S-Presso), sales dropped to 6,853 units from 10,648 units last year, while compact car sales (Baleno, Dzire, Ignis, Swift) rose slightly to 59,597 units from 58,051 units. SUV sales (Grand Vitara, Brezza, Ertiga, XL6) declined 14 percent year-on-year to 54,043 units, compared to 62,684 units in August 2024.
4. Tata Motors Ltd
Tata Motors, established in 1945, manufactures a broad portfolio of vehicles ranging from commercial and passenger cars to electric vehicles. Its luxury division, Jaguar Land Rover, manages four premium global brands, while its NBFC arm provides vehicle financing solutions.
The company has a market capitalisation of Rs. 2,54,719.13 crore and is currently trading at Rs. 691.85. Tata Motors’s total sales rose 2 percent year-on-year to 73,178 units in August 2025, against 71,693 units a year ago.
However, domestic sales dipped 2 percent to 68,482 units compared to 70,006 units in August 2024. Passenger vehicle sales in India fell 7 percent year-on-year to 41,001 units from 44,142 units last year, while domestic commercial vehicle sales grew 6 percent to 27,481 units, up from 25,864 units in the same period last year. Electric vehicle sales both international and domestic rose sharply by 44 percent to 8,540 units from 5,935 units last year.
Written By Manan Gangwar
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