Mahindra and Mahindra (M&M) has swiftly closed in on Maruti Suzuki in the utility vehicle (UV) space, inching closer to the leadership position on the back of some best-selling launches. From 53,500 units in the April-July of last year, the gap between the two has narrowed to just 12,700 units in the first four months of 2025. In July this gap was down to just 2,900 units.
If the trend continues for the rest of FY26, it would result in M&M regaining the lead in the segment after a gap of nine years. The Mumbai-based maker of Scorpio and Thar is ramping up production of its key models to meet growing demand.
M&M sales surge, Maruti volumes slip
The volume gap between the heavyweights stood was a substantial 169,000 units at the end of FY25 and 182,500 at the end of FY24. However, the fall in Maruti’s volumes during FY26 so far has wiped out its lead even as M&M has posted a stellar rise in sales.
Sales of Maruti Suzuki’s UV range, which includes Brezza, Ertiga, Invicto, Jimny, XL6, fell by 2% during the four-month ended July while that of M&M surged by 22% during the same period.
Reputed for its small cars like Wagon R and Swift, Maruti Suzuki has held on to its numero uno position in the UV segment since FY18 thanks to older generation SUVs like the Vitara Brezza and the multi-seater Ertiga. M&M was the leader of the segment till FY17.
Festive season, EVs may decide the lead
Rajesh Jejurikar, ED, M&M said the company has a monthly capacity of 55,000 units and is using around mid-40,000 levels. “We have ramped up production of Thar and (Thar) Roxx to reduce the waiting period and we are doing full capacity on them,” he said.
M&M’s electric vehicle offerings have been popular and with the BE 6, XEV 9e and XUV400, M&M has reached an output level of 4,000 units a month.
“As we get into the festival season, we would ramp up to the level of 5,000-6,000 (units a month) and a further ramp up, we expect, to happen after January which is when we will launch additional two products,” Jejurikar added.
Maruti Suzuki has seen volume pressure on one of its flagship SUVs Grand Vitara. Rahul Bharti, chief investor relations officer and senior executive officer, corporate affairs, Maruti Suzuki said the firm will “be going in a sustainable manner” on the Grand Vitara. “If there are any desperate measures in the market by some players, a company like Maruti Suzuki will not be affected too early,” he said.
Maruti Suzuki believes that a CNG variant of the Grand Vitara, launched recently, along with the electric Vitara, followed by a new mid-size SUV positioned above the Brezza will help it sell more UVs.
“We are looking at Q2 and Q3 festive season with optimism. We are hoping that it should be a better festive season than what we have seen in the financial year so far. We have two launches in the SUV space and we have optimism towards that,” Bharti added.
