Mahindra’s sales surged to 57,343 units in September 2026, a 38.93 % jump year‑on‑year and 14.13 % over August. It edged Tata out by 89 units, moving from 12.76 % to 13.42 % market share— the highest month‑on‑month gain among the top ten.
Tata’s 57,254 units were still up 28.66 % YoY, but it slipped 1.02 % from August, the only top‑ten brand to see a monthly decline. Its share fell to 13.40 %, leaving it in third place behind a still‑strong Hyundai, which posted 50,201 units (31.46 % YoY, 6.84 % MoM) and a market share of 11.75 %.
Maruti Suzuki remains the market leader, hauling 169,132 units— a 30.05 % YoY rise and 2.38 % MoM increase— yet its share dipped to 39.59 % from 40.21 %. The gap between the top three widens, but Maruti still sells more cars than the next three manufacturers combined.
The power‑train mix is shifting. Petrol/ethanol cars captured 41.27 % of September sales, a slight dip from 47.18 % in September 2025. Alternative fuels—CNG/LPG (23.11 %), diesel (17.74 %), hybrids (9.44 %), and EVs (8.45 %)— collectively accounted for 58.73 %. Hybrid and EV shares rose month‑on‑month, while CNG/LPG fell.
Dealers are wary that the GST 2.0 roll‑out may not sustain the price advantage. Sai Giridhar, FADA president, warned that subsequent price hikes could erode the benefit. Yet 75.57 % of dealers still expect growth in October; only 4.98 % anticipate a decline.
October 2026 will be the real test. With a much stronger base, the month should reflect sustainable demand rather than a low‑base boost. Buyers should watch for price adjustments, the launch of Hyundai’s Bayon and Kia’s Sorento, and the continued rise in hybrid/EV penetration, which could reshape the compact‑SUV segment.