Mahindra Eyes Over 18% Growth This Year on Robust UV Sales

Betting big on the utility vehicles (UV) segment, domestic auto major Mahindra & Mahindra is eyeing over 18 per cent growth this year, a top company executive told ACKO Drive on Tuesday, on the sidelines of the launch of the Mahindra XUV 3XO EV.

M&M closed December 2025 on a robust note, reporting sales of 86,090 models, including exports, marking a year-on-year (YoY) growth of 25 per cent. The domestic automaker marked a sustained momentum across key segments, particularly utility vehicles (UVs) and light commercial vehicles (LCVs), as the calendar year concluded on a positive note.

"It's an exciting goal, and our main job is to continue the growth. The growth has been phenomenal in 2025. We have grown at 18.4 per cent, but through the UV industry," said Velusamy R, President - Automotive Business, M&M, during a chat with ACKO Drive.

Eatch the full video interview below.

"18.4 per cent growth is what we are aiming for and also over and above that we want this year," Velusamy noted, while adding "this has been the natural growth for us and it depends on the macro-economic factors. Our expectation is to continue the growth trend."

Notably, the UV segment continued to be the key growth driver for the automaker in December. 

Domestic SUV sales stood at 50,946 units in December 2025, which is a 23 per cent increase compared to the same period in 2024.

The automaker has been expanding footprint in the SUV category, on the back of a broad portfolio and sustained consumer interest in the category.

The highest demand in the domestic market comes from SUVs that outpaced all other segments, accounting for 55.8 per cent of the total passenger vehicle (PV) sales in 2025, up from 53.8 per cent in the same period last year, even as small cars showed early signs of recovery following GST rejig.

"The top-end category will expand. The pool will expand. Already we have 80 per cent of our customers buying the AX series and now it will expand further. We also have done as you have seen that we have brought the three screens directly into the AX variant," Velusamy explained.

The utility vehicle segment continued to be the primary growth driver for M&M in December. 

Domestic SUV sales stood at 50,946 units in December, which is a 23 per cent increase compared to the same period last year. On a year-to-date (YTD) basis up to December, domestic UV sales reached 476,476 units, up 18 per cent YoY.