Mahindra has sold over 6,00,000 units of PVs in April-February FY26 and, at the current run-rate, could surpass 6,50,000 units for the full year, potentially setting a new sales record among non-Maruti Suzuki carmakers

Homegrown SUV manufacturer, Mahindra & Mahindra, is on track to record the highest-ever annual domestic passenger vehicle (PV) wholesales by any carmaker other than Maruti Suzuki India, with volumes likely to cross the 6,50,000 units mark in FY26, based on current trends.

The company has sold 6,00,004 units during the April-February period, implying an average monthly dispatch of almost 54,546 units. At this run-rate, Mahindra could end the financial year with around 6,54,550 units.

No carmaker apart from Maruti Suzuki has crossed 6,50,000 units in annual domestic PV sales so far. The current record stands at 6,14,721 units, achieved by Hyundai Motor India in FY24.

Mahindra's ongoing performance also places it as the second-largest PV manufacturer in the country in FY26 (April-February), ahead of Tata Motors Passenger Vehicles, Hyundai Motor India and Toyota Kirloskar Motor, according to data from the industry body Society of Indian Automobile Manufacturers (SIAM).

Domestic PV wholesales in FY26 (April-February)

Mahindra's rise to the second position has been driven by a steady increase in volumes over the past few years, rather than a sudden spike. Supported by a sustained demand for the company's SUVs, its PV sales have grown consistently from 1,57,215 units in FY21 to 5,51,487 units in FY25.

Mahindra PV wholesales: From FY21 to FY25

In the internal combustion engine (ICE) category, Mahindra offers SUVs like the Bolero, Bolero Neo, XUV 3XO, Thar, Thar Roxx, Scorpio (Classic and N) and XUV 7X0. Its electric vehicle (EV) portfolio includes the XUV400, XUV 3XO EV, BE 6, XEV 9e and XEV 9S.

The Scorpio has remained Mahindra's top-selling model in FY26 with 1,64,222 units, followed by the Bolero at 1,00,348 units and the XUV 3XO at 94,142 units. These three models together account for over 60% of Mahindra's total PV sales so far in this financial year.

An industry analyst told a source that Mahindra's sustained growth has been aided by a strong product cycle in the SUV segment, with the company regularly updating its portfolio over the past few years across ICE and EV categories.

"Mahindra is not dependent on a single nameplate as demand is spread across multiple high-volume models. The Thar, Thar Roxx, Scorpio and XUV 7XO lead in their respective categories. Models across price points have contributed to volumes. In addition, improved supply-side execution has helped the company better align production with demand, enabling faster dispatches and supporting consistent growth in wholesales over successive years," he added.