Today two of the biggest automakers released their monthly auto sales data; one has an edge over the EV segment, whereas the other has an edge over the SUVs. Let us see how these companies have performed in these 2 months and how the month of December looks for them. 

As we head into the last month of the quarter, Tata Motors and Mahindra & Mahindra have set the stage for an interesting finish. Both companies have had a steady run through October and November, helped by festive buying, new model excitement, and generally positive customer sentiment. Tata has been gaining good traction in passenger vehicles and expanding its presence overseas, while Mahindra has delivered consistently strong volumes across its main businesses, supported by healthy rural and commercial demand. With two solid months already in the bag, the big question now is how December will shape up and which of these two auto giants will end the quarter on top.

Tata Motors 

Tata Motors Commercial Vehicle Ltd – October data 

Tata Motors began the quarter on a steady note in October, especially in its commercial vehicle business. The company sold 37,530 CVs, growing 10% YoY, with most categories showing healthy traction; HCV trucks were up 7%, ILMCV trucks up 6%, passenger carriers up 12%, and SCV cargo/pickups up 7%. Domestic CV sales came in at 35,108 units, a 7% rise, while exports turned out to be a major highlight with 2,422 units shipped, marking an impressive 56% growth. This broad-based improvement gave Tata a stable and encouraging start to the quarter.

Tata Motors Passenger Vehicle Ltd – November data. 

November shifted the spotlight to passenger vehicles, and Tata made the most of it. The company posted 59,199 PV sales, a strong 25.6% increase, with domestic volumes at 57,436 units, up 22% from last year. Its international business also surged, jumping from barely 54 units last year to 1,763 units this November, an eye-catching 3164.8% rise, even though it came off a low base. Tata’s EV story continued to shine as well, with 7,911 electric vehicles sold, reflecting a robust 52.1% growth and underscoring the growing appeal of its electric lineup.

Taken together, October and November paint a picture of Tata Motors performing confidently across both key segments. October delivered a solid foundation with improving CV demand and strong export traction, while November brought impressive PV momentum, especially in EVs and overseas markets. With two encouraging months behind it, Tata steps into December with steady demand trends, rising customer interest, and enough momentum to close the quarter on a strong note.

Mahindra opened this quarter on a very strong note with an exceptional October. The company hit record SUV sales of 71,624 units, growing 31%, and posted its overall monthly volume of 120,142 vehicles, a solid 26% jump from last year. Its commercial vehicles added steady support with 31,741 units sold (+14%). The farm business also had a great month, selling 72,071 tractors domestically, up by 12%, thanks to festive demand and a supportive monsoon. October clearly set the momentum for the quarter.

November kept that momentum going, even though volumes naturally normalised after the festive spike. Mahindra still delivered 92,670 vehicle sales, up 19%, with 56,336 SUVs growing 22% YoY. The commercial vehicle segment remained strong at 24,843 units (+17%), and exports held steady with 2,923 units (+5%). The farm division continued its impressive run as well, selling 42,273 tractors domestically, which is a sharp 33% jump, supported by good Kharif output, active Rabi sowing, and improved farmer liquidity driven by GST cuts and higher MSPs. 

Put together, October and November show Mahindra performing strongly across almost every part of its business. October delivered record highs, while November proved that the company could hold on to strong double-digit growth even after the festive wave. With rural sentiment firm, demand consistent across SUVs, CVs, and tractors, and new launches keeping the lineup fresh, Mahindra enters December with solid confidence and real momentum to close the quarter on a high.

Who performed better?

Across October and November, both Tata Motors and Mahindra & Mahindra put up strong numbers, but in their own unique ways. Mahindra started the quarter with a blockbuster October, hitting record SUV sales of 71,624 units and a massive 1,20,142 total vehicle sales for the month, up 26% from last year. November stayed solid too, with 92,670 vehicles sold, including 56,336 SUVs. Its commercial vehicles, tractors, and exports all grew steadily across both months, giving Mahindra momentum that feels broad and consistent. 

Tata Motors took a slightly different path. October saw a healthy start in commercial vehicles with 37,530 CV sales and strong export demand. But November was where Tata really picked up speed, posting 59,199 passenger vehicle sales, domestic PVs at 57,436 units, and an impressive 7,911 EV sales, growing 52.1%. International PV sales also jumped to 1,763 units, showing encouraging traction outside India.

Looking ahead to December, both companies enter the final month of the quarter with confidence, but for different reasons. Mahindra’s strength is likely to come from the areas that have driven it all quarter: steady SUV demand, healthy CV volumes, and a strong farm segment backed by good rabi sowing and positive rural sentiment. Tata Motors, on the other hand, seems poised to continue its momentum in passenger vehicles and EVs, which have shown strong, sustained growth over the last two months. While December is usually calmer than the festive-heavy October–November period, both automakers appear well placed to end the quarter on a strong note—Mahindra with its balanced volume performance, and Tata with its rising PV and EV traction.

Written by Leon Mendonca

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