Tata Motors Holds Steady In 2nd Place, Mahindra And Hyundai Hold Onto 3rd And 4th Places
March 2026 was the strongest month of the financial year for every major passenger vehicle manufacturer, and the rankings for the full year FY26 now stand firm. Maruti Suzuki leads the market by a wide margin, Tata Motors has secured second place, Mahindra holds third, and Hyundai is fourth. Each company posted record numbers for the month and in several cases for the full year, making FY26 the highest volume year on record for the passenger vehicle segment.
Maruti Suzuki reported domestic passenger vehicle sales of 1,66,219 units in March 2026, up 10.27 percent from 1,50,743 units in the same month last year. Utility vehicles were the biggest growth driver, with 71,356 units sold against 61,097 a year ago, covering the Brezza, Fronx, Grand Vitara, Ertiga, e Vitara, Invicto, Jimny, Victoris, and XL6. Compact cars including the Swift, Baleno, Dzire, WagonR, Celerio, and Ignis accounted for 71,789 units.
The eVitara, launched in February 2026 with prices starting at Rs 15.99 lakh for the battery-included variant and Rs 10.99 lakh under the Battery-as-a-Service model, dispatched 870 units in February and is already on a waiting period of six to eight weeks. Gujarat plant output for the model is currently capped at 2,000 to 2,500 units per month, with a fourth production line expected by July 2026 to ease the constraint. For the full year FY26, Maruti reported total sales of 24,22,713 units, up from 22,34,266 in FY25.
Tata Motors Passenger Vehicles recorded domestic sales of 66,192 units in March 2026, a 28 percent year-on-year increase over 51,616 units in March 2025. EV sales specifically jumped 77 percent to 9,494 units from 5,353 a year ago. The quarter ending March 2026 was the company's highest-ever, with domestic passenger vehicle sales of 1,98,743 units against 1,46,127 in Q4 FY25, a 36 percent jump.
For the full FY26, Tata PV sales hit 6,31,387 units domestically, up 14 percent year on year. EV volumes for the full year reached 92,120 units, up 43 percent from 64,276 in FY25. The Nexon emerged as the highest-selling car in the second half of FY26 on Vahan registrations, underscoring the model's durability across both petrol and electric variants. In February 2026, Tata held a 41 percent share of the electric passenger vehicle segment with 5,558 units.
Mahindra sold 60,272 domestic SUVs in March 2026, up 25 percent from 48,048 units in March 2025. For FY26, total SUV volumes reached 6,60,276 units, a 20 percent jump over 5,51,487 in FY25. The electric SUV contribution has grown sharply within this figure. In the first ten months of FY26, the BE 6 and XEV 9e together accounted for 37,402 units of total EV sales, with the cumulative tally crossing 41,000 units by mid-year. By February 2026 alone, Mahindra's EV segment recorded a 473 percent year-on-year jump. The BE 6 is priced between Rs 18.90 lakh and Rs 26.90 lakh, while the XEV 9e runs from Rs 21.90 lakh to Rs 30.50 lakh.
Hyundai Motor India reported domestic passenger vehicle sales of 55,064 units in March 2026, up 6.3 percent from the same month last year and the highest-ever March domestic sales figure for the company. The quarter was also a record, with domestic sales of 1,66,578 units in Q4 FY26, growing 8.5 percent year on year. The Creta remains the highest-selling SUV nameplate in the country, with the Creta Electric adding incremental volumes since its launch. Hyundai's EV numbers have been modest relative to Tata and Mahindra, with 304 units in February 2026, reflecting supply-side constraints rather than a demand shortfall.
The industry as a whole is expected to close FY26 at record volumes of approximately 47 lakh passenger vehicles, reflecting around 8 percent annual growth. Each of the top four manufacturers has grown faster than that industry average.