SML Mahindra Sales October 2025: 872 Units, −4.7% YoY
Full Vahan registration report for SML Mahindra 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.
SML Mahindra in October 2025
SML Mahindra registered 872 vehicles in India in October 2025. Volume slipped 4.7% against October 2024 and pushed ahead 14.3% against September. Its best month on record remains June 2026 at 1,849.
Of those, 806 were buses (92.4% of the total), −7.7% 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 SML Mahindra 58th among every manufacturer registering vehicles in India in October 2025, behind Sahnianand E Vehicles on 876 and ahead of Terra Motors India on 829.
Measured against every vehicle registered in India that month — all segments, all fuels — that is 0.0% of the market, −0.01pp against October 2024.
Across 2025 to date — the 10 months of the year that have closed — the company has registered 11,153 vehicles, +4.2% on the same months of 2024.
SML Mahindra monthly registrations
Every calendar year on record, month by month. The dashed end of the current year is the month so far.
What SML Mahindra sells
64.9% of everything SML Mahindra has registered in 2025 is in buses, and the company holds 6.6% of that segment nationally. Goods carriers is next at 29.2%.
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.
SML Mahindra by segment, 2025
Calendar year to date — exact, but with no month axis.
| Segment | 2025 units | Share of company | Share of segment |
|---|---|---|---|
| Buses | 8,373 | 64.9% | 6.6% |
| Goods Carriers | 3,774 | 29.2% | 0.4% |
| Other | 576 | 4.5% | 0.3% |
| Taxis & Cabs | 186 | 1.4% | 0.1% |
"Share of segment" is this company against every other manufacturer in the same segment, over the same months.
Fuel mix
SML Mahindra has registered no battery-electric vehicles in 2025 in this data.
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 |
|---|---|---|---|
| Diesel | 11,109 | 86.1% | −1.35pp |
| CNG / LPG | 1,799 | 13.9% | +1.34pp |
| Other | 1 | 0.0% | +0.01pp |
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% |
| 56 | Sks Trade India | 910 | 0.0% |
| 57 | Sahnianand E Vehicles | 876 | 0.0% |
| 58 | SML Mahindra | 872 | 0.0% |
| 59 | Terra Motors India | 829 | 0.0% |
| 60 | Mlr Auto | 816 | 0.0% |
SML 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) | 661 | — |
| September 2026 | 1,151 | +50.9% |
| August 2026 | 1,244 | +15.4% |
| July 2026 | 1,768 | +26.1% |
| June 2026 | 1,849 | +16.6% |
| May 2026 | 1,472 | −6.4% |
| April 2026 | 1,569 | +25.5% |
| March 2026 | 1,309 | +21.5% |
| February 2026 | 1,101 | +31.7% |
| January 2026 | 927 | +29.3% |
| December 2025 | 934 | +73.6% |
| November 2025 | 822 | +8.7% |
| October 2025 | 872 | −4.7% |
| September 2025 | 763 | −19.1% |
| August 2025 | 1,078 | +15.4% |
Frequently asked questions
How many vehicles did SML Mahindra sell in October 2025?
Where does SML Mahindra rank in October 2025?
What does SML Mahindra mostly sell?
How many of SML Mahindra's vehicles are electric?
Are these retail sales or factory dispatches?
SML 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.
