Mahindra & Mahindra Sales December 2025: 1,26,995 Units, +26.5% YoY
Full Vahan registration report for Mahindra & Mahindra in December 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 & Mahindra in December 2025
Mahindra & Mahindra registered 1,26,995 vehicles in India in December 2025. Volume accelerated 26.5% against December 2024 and declined 11.3% against November. Its best month on record remains January 2026 at 1,48,414.
Of those, 49,382 were cars and UVs (38.9% of the total), +35.8% on December 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 & Mahindra 6th among every manufacturer registering vehicles in India in December 2025, behind Maruti Suzuki on 1,60,972 and ahead of Royal Enfield on 87,907.
Measured against every vehicle registered in India that month — all segments, all fuels — that is 5.9% of the market, +0.49pp against December 2024.
Across 2025 to date — the 12 months of the year that have closed — the company has registered 13,31,100 vehicles, +16.6% on the same months of 2024.
Mahindra & Mahindra monthly registrations
Every calendar year on record, month by month. The dashed end of the current year is the month so far.
How the group splits
Vahan files Mahindra & Mahindra as 5 separate manufacturers, so the headline above is their sum. Mahindra is the largest of them in December 2025 at 72,124 registrations, 56.8% of the group total.
Each row is a manufacturer name as the registration database itself records it.
| Entity | Dec 2025 | Share of group | YoY |
|---|---|---|---|
| Mahindra | 72,124 | 56.8% | +24.6% |
| Mahindra Tractors | 29,511 | 23.2% | +21.5% |
| Swaraj (M&M) | 22,232 | 17.5% | +21.9% |
| Mahindra Electric Automobile | 3,102 | 2.4% | — |
| Mahindra | 26 | 0.0% | +52.9% |
What Mahindra & Mahindra sells
43.9% of everything Mahindra & Mahindra has registered in 2025 is in cars and UVs, and the company holds 13.7% of that segment nationally. Tractors is next at 32.9%.
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 & Mahindra by segment, 2025
Calendar year to date — exact, but with no month axis.
| Segment | 2025 units | Share of company | Share of segment |
|---|---|---|---|
| Cars & UVs | 5,84,393 | 43.9% | 13.7% |
| Tractors | 4,38,241 | 32.9% | 43.3% |
| Goods Carriers | 2,68,418 | 20.2% | 29.4% |
| Taxis & Cabs | 26,782 | 2.0% | 7.5% |
| Buses | 6,843 | 0.5% | 5.4% |
| Other | 5,544 | 0.4% | 2.4% |
| Three-Wheelers | 879 | 0.1% | 0.1% |
"Share of segment" is this company against every other manufacturer in the same segment, over the same months.
Fuel mix
2.6% of Mahindra & Mahindra's 2025 registrations are battery electric — 35,258 vehicles, against 0.8% 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 | 1,12,617 | 8.5% | +0.14pp |
| Diesel | 11,65,762 | 87.6% | −2.16pp |
| CNG / LPG | 17,420 | 1.3% | +0.19pp |
| Electric | 35,258 | 2.6% | +1.83pp |
| Hybrid | 2 | 0.0% | 0.00pp |
| Other | 41 | 0.0% | 0.00pp |
Every manufacturer, December 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 | Dec 2025 | Share of market |
|---|---|---|---|
| 1 | Honda 2W (HMSI) | 3,79,790 | 17.7% |
| 2 | Hero MotoCorp | 3,01,335 | 14.0% |
| 3 | TVS Motor | 2,87,833 | 13.4% |
| 4 | Bajaj Auto | 1,84,315 | 8.6% |
| 5 | Maruti Suzuki | 1,60,972 | 7.5% |
| 6 | Mahindra & Mahindra | 1,26,995 | 5.9% |
| 7 | Royal Enfield | 87,907 | 4.1% |
| 8 | Tata Motors | 86,828 | 4.0% |
| 9 | Suzuki 2W | 86,128 | 4.0% |
| 10 | Yamaha India | 56,467 | 2.6% |
| 11 | Hyundai | 50,956 | 2.4% |
| 12 | Toyota Kirloskar | 28,624 | 1.3% |
| 13 | Kia India | 22,229 | 1.0% |
| 14 | Ather Energy | 18,635 | 0.9% |
| 15 | Ashok Leyland | 16,025 | 0.7% |
Mahindra & Mahindra 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) | 76,572 | — |
| September 2026 | 1,18,751 | +31.8% |
| August 2026 | 1,13,872 | +9.0% |
| July 2026 | 1,34,301 | +29.2% |
| June 2026 | 1,26,081 | +30.1% |
| May 2026 | 1,11,286 | +13.3% |
| April 2026 | 1,16,151 | +15.6% |
| March 2026 | 1,31,081 | +22.0% |
| February 2026 | 1,23,937 | +32.0% |
| January 2026 | 1,48,414 | +19.5% |
| December 2025 | 1,26,995 | +26.5% |
| November 2025 | 1,43,135 | +36.7% |
| October 2025 | 1,41,291 | +20.0% |
| September 2025 | 90,133 | +9.9% |
| August 2025 | 1,04,515 | +17.3% |
Frequently asked questions
How many vehicles did Mahindra & Mahindra sell in December 2025?
Where does Mahindra & Mahindra rank in December 2025?
What does Mahindra & Mahindra mostly sell?
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Are these retail sales or factory dispatches?
Mahindra & Mahindra 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.
