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Mahindra XUV 3XOMahindra & Mahindra (M&M) is tightening its grip on the utility vehicle (UV) market, rapidly narrowing the sales gap with Maruti Suzuki. Between April and July 2025, the difference in UV sales between the two automakers dropped to 12,700 units from over 53,000 a year earlier. In July alone, Mahindra trailed by just 2,900 units — its closest in nearly a decade — raising the prospect of reclaiming the top spot it last held in FY17, Financial Express reports.
Mahindra’s success is built on a broad product range spanning the Thar, Scorpio-N, Bolero, XUV700 and XUV 3XO, catering to diverse consumer segments. None is a single runaway hit, but together they have created a steady sales engine, with UV volumes for April–July FY26 up 21.7 per cent year-on-year to 201,938 units. Maruti’s UV sales in the same period stood at 214,641 units, down 6 per cent from last year.
The Mumbai-headquartered automaker is also betting big on electric mobility, with two new battery electric vehicle (BEV) launches planned for early 2026 and a sales target of 48,000 BEVs in FY26. Additionally, M&M’s strong tractor business — which saw volumes rise 10.4 per cent in Q1 FY26 — provides a cushion against passenger vehicle demand swings.
However, industry watchers caution that capacity constraints, execution risks in the EV segment, and high stock valuations could test Mahindra’s momentum.
With sustained growth, diversified revenue streams and rising market share, Mahindra has emerged as Maruti’s strongest challenger in the UV race — and could soon redefine the leadership landscape in India’s passenger vehicle market.>
