The utility vehicle (UV) segment witnessed 19% growth in the domestic market, with 50,420 units sold, up from 42,201 units in February 2024. Exports surged by 99%, with 3,061 units shipped compared to 1,539 units last year.
“This strong performance is a result of a continued positive momentum for our SUV portfolio,” said Veejay Nakra, President of the Automotive Division at Mahindra & Mahindra.
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The tractor division also posted growth, with total sales rising to 25,527 units, compared to 21,672 units in the year-ago period. Tractor exports stood at 1,647 units.
According to Hemant Sikka, Mahindra’s Farm Equipment Sector President, favourable agricultural conditions are expected to sustain demand. “After a good Kharif crop, Rabi crop outlook is also looking positive due to favourable weather conditions,” he said, adding that increased agricultural credit limits, government support for farmers, and a strong Rabi harvest could further drive tractor demand.
Meanwhile, Hyundai reported a 3% drop in total sales but with growth in exports. Hyundai Motor India Limited (HMIL) reported a 3% decline in total dispatches for February, with 58,727 units, down from 60,501 units in the same period last year.
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Domestic dispatches fell 5% with 47,727 units sent to dealers, compared to 50,201 units in February 2024. However, exports grew 6.8%, rising to 11,000 units from 10,300 units in the previous year.
“With a 6.8% YoY growth in export sales in February 2025, we are witnessing increasing global demand for our Made-in-India products, reflecting Hyundai’s strong acceptance worldwide,” said Tarun Garg, Whole-Time Director and Chief operating Officer, Hyundai Motors India.
Acknowledging the domestic sales decline, Garg expressed cautious optimism, stating, “Despite geopolitical challenges, we remain optimistic that the proposed tax reforms in the Union Budget 2025 and improved liquidity will provide the much-needed demand boost to the market.”
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Hyundai aims to strengthen its position as a global manufacturing hub. The automaker remains focused on maintaining steady export growth while navigating domestic market fluctuations.
The sales trends reflect broader shifts in the Indian automotive sector, where Mahindra continues to benefit from strong SUV and tractor demand, while Hyundai balances domestic market challenges with a growing export footprint.
(With PTI inputs)
