Mahindra & Mahindra (M&M) has emerged as India’s second-largest passenger vehicle (PV) manufacturer by volume for the fiscal year 2025–26, surpassing Hyundai Motor India and Tata Motors Passenger Vehicles Ltd. Driven primarily by strong SUV sales, the homegrown automaker has consolidated its position in the rapidly expanding PV segment. Maruti Suzuki continues to dominate as the market leader with steady growth. M&M’s rise underscores the company’s strategic focus on high-demand vehicle segments and brand positioning.