- Mahindras FY26 SUV sales grew 20% YoY to 660,276 units surpassing Hyundai
- In March 2026, Mahindra's SUV sales rose 25% YoY to 60,272 units
- Hyundai's FY26 growth was flat, with some monthly gains but overall volume decline
The Indian passenger vehicle market in FY26 has been defined by one clear shift - domestic sales momentum tilting heavily towards SUVs. And in this transition, Mahindra & Mahindra has emerged as a strong chaser, overtaking Hyundai Motor India in domestic volumes. While Hyundai continues to rely on its diverse portfolio and feature-rich offerings, Mahindra's SUV-led strategy is now translating into stronger growth and market share gains.
SUV Push Drives Mahindra's Growth
Mahindra's performance in FY26 has been nothing short of remarkable. The company recorded 6,60,276 SUV sales in FY26, marking a 20 per cent year-on-year growth over FY25's 5,51,487 units.
Monthly momentum has been equally strong. In March 2026 alone, Mahindra posted 60,272 domestic SUV sales, up from 48,048 units last year - a 25 per cent YoY jump.
Even on a month-on-month basis, Mahindra has shown resilience, despite minor dips during non-festive months. The broader trend remains upward, backed by strong demand for models like the Scorpio-N, Thar, XUV700, and Bolero. This consistent SUV demand has helped Mahindra move up the pecking order, even surpassing Hyundai in overall rankings during FY26.
Also Read: Hyundai Turns Tiny Casper Electric Into A Lounge Limo, But There's A Catch
Hyundai's Mixed Growth Story
Hyundai, on the other hand, has seen a more mixed trajectory. While it continues to post growth in certain months - including an 8.5 per cent YoY rise in Q4 FY26 domestic sales - its overall annual performance has been relatively flat compared to rivals.
The brand has also faced pressure in the domestic market, with reports indicating it was among the few major OEMs to witness a decline in volumes in FY26.
Also Read: Toyota Kirloskar Motor Registers 20% Sales Growth In FY25-26; Sold Over 4 Lakh Units
Month-on-month, Hyundai's performance has remained stable but not aggressive. The brand's reliance on models like the Creta, Venue, and Exter continues to drive volumes, but the absence of a hardcore SUV lineup similar to Mahindra's has begun to show.
Portfolio Play: Breadth Vs Depth
Hyundai's strength lies in its wide-ranging portfolio, spanning hatchbacks (Grand i10 Nios, i20), compact SUVs (Venue, Exter), mid-size SUVs (Creta), and sedans (Aura, Verna). This diversity allows it to cater to multiple segments.
Mahindra, in contrast, has taken a more focused approach, doubling down on SUVs. Its lineup - including the Thar, Scorpio Classic, Scorpio-N, XUV7XO, Bolero, and XUV3XO - is built around rugged appeal and strong road presence.
This difference in philosophy is now reflecting in sales performance. Hyundai's "quirkiness" and feature-rich positioning still appeal to urban buyers, but Mahindra's "sheer SUV dominance" is resonating more strongly with the evolving Indian buyer.
Also Read: Maruti Suzuki March 2026 Sales Rise 5%; FY26 Volumes Up 3% YoY
The Bigger Picture
The FY26 numbers underline a larger shift in the Indian automotive market. SUVs are no longer just a segment; they are becoming the default choice.
Mahindra has aligned itself perfectly with this trend, while Hyundai is still adapting. Going forward, the battle between the two will likely hinge on how quickly Hyundai can strengthen its SUV credentials - and whether Mahindra can sustain its current momentum.