India PV market hits record June – Everyone grows, but not everyone wins –

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The Indian passenger car market recorded its best-ever performance in June with total retail registrations reaching 4,10,853 units, a significant increase from 3,19,412 units in June 2025. Year-over-year growth of 28.63% was broad-based, with clear gains at nearly every price point and brand, but market share shifts reveal a more nuanced story of winners, steady holders and those losing ground on the rising tide.

Maruti Suzuki maintained its lead with sales of 1,67,834 units, improving its market share from 38.44% to 40.85%. This significant growth shows that the country’s largest carmaker is not only maintaining its position but also growing aggressively, faster than the market. In a segment that has struggled to gain share, Maruti’s performance in June was particularly strong, helped by sustained demand for its broad product portfolio from entry-level hatchbacks to premium SUVs.

Tata Motors was the biggest gainer among the larger players in the segment in terms of share, jumping from 11.81% to 13.88%, with retail sales of 57,009 units compared to 37,731 units a year ago. The growth reflects the brand’s expanding SUV lineup and rapidly growing electric vehicle sales, which together have repositioned Tata as a real force in the mainstream passenger car market.

Mahindra & Mahindra maintained its position with sales of 54,099 units and a market share of 13.17%, which was basically the same as the 13.85% share a year ago. Although the brand’s sales grew strongly (sales increased from 44,249 units), its share remained relatively stable, indicating that it is growing at about the same rate as the overall market. Separately reported monthly domestic SUV sales surpassed the 60,000-unit milestone, highlighting the brand’s potential momentum.

Hyundai Motor India’s sales fell to 10.75% from 12.76%, with retail sales of 44,163 units as compared to 40,743 units in June 2025. While sales are growing, the share losses are meaningful – Hyundai is one of the clearest examples of a brand growing in absolute terms but losing relatively as competitors expand faster. The brand will need new product momentum to stem share losses in the coming months.

Toyota Kirloskar Motor sold 28,818 units and had a market share of 7.01%, slightly lower than the 7.84% recorded in the same period last year, although sales increased from 25,031 units last year. Like Hyundai, Toyota is growing, but not fast enough to keep pace with the market’s overall expansion, and its relatively limited product range in India limits its ability to capture wider demand.

Kia India continued its strong momentum with sales of 23,166 units and a market share of 5.64%, improving from an absolute share of 6.10%. Although the share fell slightly, sales were up significantly from 19,485 units, reflecting continued customer interest in the Seltos and Sonet.

Skoda Auto Volkswagen Group has sold a total of 8,098 vehicles, with its share falling from 2.68% to 1.97%. The decline is noteworthy given that both Skoda and Volkswagen have invested heavily in localizing their products in India. Regaining share in such a fast-growing market will require new products or higher pricing, especially as competitors in the same premium hatchback and compact SUV segments continue to grow.

JSW MG Motor India sold 6,997 units and had a share of 1.70%, which was basically the same as the 1.81% share in the same period last year. The brand’s Windsor-led electric vehicle strategy continues to find buyers, although it faces challenges in growing sales in the mass market, where price sensitivity remains high even as interest in electric vehicles grows.

Honda Cars India sold 4,833 units and had a market share of 1.18%, down from 1.32% in the same period last year. Honda’s declining share in India is part of a long-term trend, and its relatively narrow and aging product portfolio puts it at risk as rivals launch new models at a faster pace.

Renault India launched 3,858 vehicles and had a share of 0.94 per cent, up from 0.81 per cent a year ago, one of the most significant share growth stories in the segment. The brand’s double-digit growth momentum has now extended to ten consecutive months and appears to be gaining traction with the relaunch of Duster sparking renewed customer interest.

Nissan Motor India was one of the strongest performers in percentage terms, with its retail sales almost doubling from 1,398 units to 2,749 units and its share increasing from 0.44% to 0.67%. While still a small player in absolute terms, the trajectory shows real momentum for recovery for a brand that has been struggling in India for years.

BMW India’s sales were stable at 1,699 units, with a share of 0.41%, basically the same as the same period last year; while Mercedes-Benz Group’s sales were 1,608 units, with a share of 0.39%, slightly lower than the 0.47% in the same period last year. While Mercedes appears to have lost some market share to BMW in June, the two luxury carmakers operate in a segment that remains relatively insulated from mass market fluctuations.

VinFast made its presence known with sales of 1,404 units and a share of 0.34% – a figure that is significant given that the Vietnamese brand was not registered in India as of June 2025. It’s an early but meaningful read on customer interest in new entrants, and one to watch as the brand builds its network and awareness.

BYD India sold 873 vehicles and had a market share of 0.21%, up from 0.16% a year ago, reflecting the steady growth of Chinese electric vehicle brands in the Indian market. Although the market is cautious about Chinese automakers, there is strong interest in the products themselves.

Force Motors doubled its sales from 410 to 870 units and increased its share from 0.13% to 0.21% – a quiet but steady increase driven by its utility vehicle line. Stellantis Group has 999 units, accounting for 0.24% share, while Jaguar Land Rover India has 587 units, with sales rising slightly but share falling slightly from 0.17% to 0.14%.

The “Other” category shrunk from 1,793 units and 0.56% share to 1,189 units and 0.29%, indicating that smaller and niche players are losing ground as the mainstream market consolidates around established brands with broader networks and more competitive products.

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