Mahindra Last Mile Sales October 2025: 15,520 Units, +50.1% YoY
Full Vahan registration report for Mahindra Last Mile in October 2025 — total volume, year-on-year and month-on-month change, where it ranks against every other manufacturer, and the segment and fuel mix behind the number.
Mahindra Last Mile in October 2025
Mahindra Last Mile registered 15,520 vehicles in India in October 2025. Volume shot up 50.1% against October 2024 and jumped 49.6% against September. Its best month on record remains September 2026 at 17,521.
Of those, 12,806 were three-wheelers (82.5% of the total), +54.8% on October 2024. That figure is exact: it is counted with Vahan's own vehicle-class filter rather than worked out from the company total.
That put Mahindra Last Mile 17th among every manufacturer registering vehicles in India in October 2025, behind Ola Electric on 16,439 and ahead of Piaggio on 14,339.
Measured against every vehicle registered in India that month — all segments, all fuels — that is 0.4% of the market, +0.02pp against October 2024.
Across 2025 to date — the 10 months of the year that have closed — the company has registered 1,00,445 vehicles, +30.9% on the same months of 2024.
Mahindra Last Mile monthly registrations
Every calendar year on record, month by month. The dashed end of the current year is the month so far.
What Mahindra Last Mile sells
83.4% of everything Mahindra Last Mile has registered in 2025 is in three-wheelers, and the company holds 7.6% of that segment nationally. Goods carriers is next at 16.5%.
This split is the calendar year to date and cannot be cut to a single month: our Vahan data holds a manufacturer's volume by month, and its volume by vehicle class, but not the two together. Multiplying them would be a guess, so the table stays on the axis where the number is exact.
Mahindra Last Mile by segment, 2025
Calendar year to date — exact, but with no month axis.
| Segment | 2025 units | Share of company | Share of segment |
|---|---|---|---|
| Three-Wheelers | 1,03,622 | 83.4% | 7.6% |
| Goods Carriers | 20,515 | 16.5% | 2.2% |
| Other | 46 | 0.0% | 0.0% |
| Taxis & Cabs | 1 | 0.0% | 0.0% |
| Cars & UVs | 1 | 0.0% | 0.0% |
"Share of segment" is this company against every other manufacturer in the same segment, over the same months.
Fuel mix
79.0% of Mahindra Last Mile's 2025 registrations are battery electric — 98,157 vehicles, against 71.9% in 2024.
Fuel, like segment, is published against the manufacturer for the whole year rather than by month, so these shares are 2025 to date. Hybrids are counted separately from battery electrics.
| Fuel | 2025 units | Share | vs 2024 |
|---|---|---|---|
| Petrol | 733 | 0.6% | −0.55pp |
| Diesel | 20,030 | 16.1% | −6.58pp |
| CNG / LPG | 5,265 | 4.2% | 0.00pp |
| Electric | 98,157 | 79.0% | +7.12pp |
Every manufacturer, October 2025
Ranked on total registrations across every vehicle type, which is the finest manufacturer split our Vahan data holds with a month axis. Two-wheeler makers therefore sit above carmakers selling far more value — this is a count of vehicles, not of revenue.
| # | Manufacturer | Oct 2025 | Share of market |
|---|---|---|---|
| 1 | Hero MotoCorp | 10,07,141 | 24.1% |
| 2 | Honda 2W (HMSI) | 8,50,960 | 20.4% |
| 3 | TVS Motor | 5,78,599 | 13.9% |
| 4 | Bajaj Auto | 3,91,674 | 9.4% |
| 5 | Maruti Suzuki | 2,55,657 | 6.1% |
| 6 | Royal Enfield | 1,54,559 | 3.7% |
| 7 | Suzuki 2W | 1,42,141 | 3.4% |
| 8 | Mahindra & Mahindra | 1,41,291 | 3.4% |
| 9 | Tata Motors | 1,15,993 | 2.8% |
| 10 | Yamaha India | 94,768 | 2.3% |
| 15 | Ashok Leyland | 17,674 | 0.4% |
| 16 | Ola Electric | 16,439 | 0.4% |
| 17 | Mahindra Last Mile | 15,520 | 0.4% |
| 18 | Piaggio | 14,339 | 0.3% |
| 19 | Skoda Auto Volkswagen | 13,428 | 0.3% |
Mahindra Last Mile month by month
The last 15 months on record. The year-on-year column compares each month against the same month a year earlier; the running month is left without one.
| Month | Registrations | YoY |
|---|---|---|
| October 2026 (live) | 10,983 | — |
| September 2026 | 17,521 | +68.9% |
| August 2026 | 15,329 | +39.6% |
| July 2026 | 16,990 | +41.6% |
| June 2026 | 15,373 | +64.0% |
| May 2026 | 13,529 | +56.0% |
| April 2026 | 12,760 | +65.4% |
| March 2026 | 11,972 | +31.9% |
| February 2026 | 10,568 | +32.3% |
| January 2026 | 10,192 | +16.6% |
| December 2025 | 10,083 | +33.6% |
| November 2025 | 13,657 | +43.1% |
| October 2025 | 15,520 | +50.1% |
| September 2025 | 10,375 | +27.3% |
| August 2025 | 10,982 | +51.4% |
Frequently asked questions
How many vehicles did Mahindra Last Mile sell in October 2025?
Where does Mahindra Last Mile rank in October 2025?
What does Mahindra Last Mile mostly sell?
How many of Mahindra Last Mile's vehicles are electric?
Are these retail sales or factory dispatches?
Mahindra Last Mile sales, earlier months
More from the reports desk
Source. Every figure is a vehicle registration, taken daily from the Ministry of Road Transport & Highways' Vahan 4 dashboard (vahan.parivahan.gov.in) — the same source FADA and the industry use for retail data. Registrations are not the wholesale dispatch numbers manufacturers announce each month. "EV" means battery electric (Vahan fuels PURE EV and ELECTRIC(BOV)); hybrids are counted separately. Information only, not investment advice.
Using these numbers? Cite "Flash Finance (Vahan data)" with a link to this page. This report's chart card is free to republish with the same credit.
