New Delhi: Amid intensifying competition in the SUV-driven passenger vehicle (PV) segment, Mahindra & Mahindra (M&M) and Tata Motors have overtaken Hyundai Motor India in domestic dispatches for April 2025, securing the second and third positions, respectively.
This shift marks a significant change despite Hyundai’s long-standing dominance in the second spot of India’s passenger vehicle market. Notably, this is the first time in calendar year 2025 that Hyundai has fallen behind both Mahindra and Tata Motors in domestic dispatches.
The maker of Creta SUV has dispatched 44,374 units to its dealers during April, with Tata Motors at 45,199 units and M&M taking a lead with 52,330 units.
In February as well, Mahindra had surpassed Hyundai, placing the latter in third position, but Tata Motors following in fourth. During the month, M&M reported wholesales of 50,420 units, surpassing Hyundai’s dispatches of 47,727 units to its dealers.
The shift in OEM rankings is noteworthy, as just 2-3 years ago, the race for the No. 2 spot was solely between Hyundai and Tata Motors, with Mahindra not even in the picture. ETAuto previously covered how the competition among the giants evolved.
| Domestic Dispatches in CY2025 (in units) | Jan | Feb | Mar | Apr | |
| Hyundai | 54,003 | 47,727 | 51,820 | 44,374 | |
| Mahindra | 50,659 | 50,420 | 48,048 | 52,330 | |
| Tata Motors | 48,076 | 46,435 | 51,616 | 45,199 | |
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Interestingly, the gap between Hyundai and Mahindra’s dispatches in February was just 2,693 units, but this difference has now widened to 7,956 units in April.The decline in Hyundai’s April dispatches may be attributed to surplus inventory, as evidenced by a gap in March 2025—while the company dispatched 51,820 units, retail sales were significantly lower at 42,511 units. This nearly 10,000-unit difference suggests that dealers carried forward unsold stock, prompting the OEM to moderate shipments in April.
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Tarun Garg, Chief Operating Officer at Hyundai Motor India said the domestic market “continues to face headwinds on account of various macro-economic factors”.
Meanwhile, we are committed to driving export growth, he added.
It’s worth noting that Hyundai retained its No. 2 position in domestic passenger vehicle sales for the full fiscal year 2024-25, followed by Tata Motors at third and Mahindra at fourth. However, with the PV landscape evolving—driven in part by the growing prominence of electric vehicles (EVs)—industry experts believe it remains to be seen whether the recent reshuffling in OEM rankings is a one-off occurrence or the beginning of a sustained shift.
Meanwhile, Maruti Suzuki’s crown place remains firmed up for decades.
Hyundai, which currently operates two integrated manufacturing plants in Sriperumbudur, Chennai, with a combined annual production capacity of 8.24 lakh units, said the production at its upcoming second plant in Talegaon, near Pune, will begin by the last quarter of this year.
