India’s top automakers Tata Motors and Maruti Suzuki expanded their retail market share in September, even as rivals Hyundai Motor India and Toyota Kirloskar Motor reported declines, according to the latest passenger vehicle (PV) registration data.
Overall, passenger vehicle retail sales grew 6% year-on-year, rising to 2,99,369 units in September 2025, compared to 2,82,945 units in the same month last year.
🚗 Tata, Maruti Lead Growth
Tata Motors’ market share improved sharply to 13.75%, up from 11.52% a year ago, with retail sales of 41,162 units (vs 32,586 units in September 2024). The company’s strong EV and SUV lineup — led by the Nexon, Punch, and Harrier — continues to drive growth momentum.
Maruti Suzuki, India’s largest carmaker, strengthened its dominance with retail sales of 1,23,242 units, capturing 41.17% of the PV market. This marked a rise from 40.83% in September 2024, when it sold 1,15,530 units.
📉 Hyundai, Toyota Lose Ground
Hyundai Motor India reported retail sales of 35,812 units, translating to a market share of 11.96%, down from 13.72% a year earlier when it sold 38,833 units. The dip follows a period of constrained supply and product transitions ahead of new launches.
Toyota Kirloskar Motor, meanwhile, saw its share fall to 6.78% from 7.35%, with 20,303 units sold versus 20,792 units in September 2024. The decline comes despite steady demand for the Innova Hycross and Urban Cruiser Taisor.
Kia India maintained a near-flat performance, with a marginal dip in market share to 6.78%, selling 16,727 units versus 16,062 a year earlier.
Mahindra & Mahindra held steady with a 12.58% share, retailing 37,659 units, compared to 35,863 units (12.67%) last year.
🏍️ Two-Wheeler Market: Hero Regains Top Spot
The two-wheeler segment also saw a 6.5% year-on-year rise, clocking 12,87,735 retail units in September 2025, compared to 12,08,996 a year ago.
Hero MotoCorp regained market share, climbing to 25.10% from 22.48%, with 3,23,268 units sold — a surge driven by festive season demand and robust rural sentiment.
Honda Motorcycle & Scooter India (HMSI), however, slipped to 25.05% from 27.7%, indicating tighter competition in the scooter segment.
TVS Motor Company also inched up to 19.11% (from 18.36%) on the back of strong performance from its Apache and iQube models.
📊 Summary: September 2025 Market Share Snapshot
| Company | Retail Sales (Units) | Market Share (%) Sep 2025 | Market Share (%) Sep 2024 |
|---|---|---|---|
| Maruti Suzuki | 1,23,242 | 41.17 | 40.83 |
| Tata Motors | 41,162 | 13.75 | 11.52 |
| Mahindra & Mahindra | 37,659 | 12.58 | 12.67 |
| Hyundai | 35,812 | 11.96 | 13.72 |
| Toyota | 20,303 | 6.78 | 7.35 |
| Kia | 16,727 | 6.78 | 6.87 |
| Total PV Sales | 2,99,369 | — | — |
Two-Wheeler Segment
| Company | Retail Sales (Units) | Market Share (%) Sep 2025 | Market Share (%) Sep 2024 |
|---|---|---|---|
| Hero MotoCorp | 3,23,268 | 25.10 | 22.48 |
| Honda (HMSI) | — | 25.05 | 27.70 |
| TVS Motor | — | 19.11 | 18.36 |
| Total Two-Wheeler Sales | 12,87,735 | — | — |
💡 Outlook
Industry analysts expect momentum to continue through October amid festive demand and new product launches.
Tata and Maruti are expected to maintain growth on the back of new EV offerings and SUV-heavy portfolios, while Hyundai and Toyota may recover share with upcoming model refreshes.
In the two-wheeler market, rural recovery and higher agricultural income are seen supporting continued volume expansion ahead of Diwali.
