The rise in SUV popularity has propelled Mahindra & Mahindra to the forefront of the Indian automotive sector. Despite previous struggles with only the Scorpio as its flagship, the company has turned the tide and emerged as the leading revenue earner in the SUV segment, outperforming competitors like Toyota, Hyundai, Tata Motors, Kia, and Maruti Suzuki.
India Business News: The surge in SUVs has made Mahindra & Mahindra one of the biggest gainers in the Indian automotive industry. The company, which till a few years back
Leasing is becoming a key driver in electric vehicle (EV) sales in India, especially as the high upfront cost remains a barrier to adoption. Companies like Quiklyz, Ayvens, and Lithium Urban Technologies are witnessing significant growth in the EV leasing business. Fleet operators and logistics companies find leasing more economical than purchasing due to lower total cost of ownership and the ability to channel capital to other parts of their business. Leasing also offers flexibility and technology risk mitigation in the rapidly evolving EV industry.
SUV Sales: India s preference for compact vehicles under 4 meters in length is declining, with their market share dropping from 62% in 2021 to 50% in 2023. The number of models in this segment has also decreased. Shifting consumer tastes, including a preference for larger vehicles, are prompting automakers to rethink strategies. The popularity of entry-level SUVs has grown, overlapping with premium hatches and sedans. New safety requirements and challenges in designing small cars are also affecting the market. Urban incomes and easy financing options are driving the trend towards premiumization.