Mahindra leads wholesale race, Hyundai tops retail, Tata hits EV record in July showdown

The battle for India’s number second passenger vehicle spot intensified in July 2025, with Mahindra & Mahindra holding the advantage in wholesale shipments, while Hyundai Motor India gained ground in retail sales.

Mahindra’s momentum in SUVs remained strong as the company dispatched 49,871 units in the domestic market, up 20% year-on-year. This performance keeps Mahindra ahead of Hyundai and Tata Motors in terms of wholesale volumes.

Hyundai takes second spot in retail

However, the retail picture told a different story. Vahan data showed Hyundai overtaking both Mahindra and Tata in registrations, aided by consistent demand for its SUV range.

Mahindra reported wholesale passenger vehicle sales of 49,871 units in July, while Vahan data reflects 41,476 units in retail registrations. Hyundai, meanwhile, recorded 43,973 units in wholesale PV sales and 42,661 units in retail registrations.

Tata Motors moved 40,175 units (wholesale PV sale), and 39,795 units (Vahan registrations) last month. What's to be noted is that Tata's EV sales hit a record 7,124 units for the month.

Hyundai also retains a significant edge in overall production volumes. Including 16,100 units exported in July, its total dispatches touched 60,073 units. SUVs formed the backbone of its domestic sales, making up 71.8% — the highest SUV share Hyundai has ever achieved in India.

The numbers hint at a market where Mahindra dominates the SUV-driven wholesale race, Hyundai leverages retail strength and production scale, and Tata pushes forward in EV leadership.