The display of flagship XUV700 SUV, the three-door Thar and the XUV 300 at the Bharat Mobility Expo may not be as exciting as the ‘BE.RALL-E’ concept SUV painted in a shade of bright lemon-yellow and arranged at the centre of the stall. It is a true-blue off-road vehicle concept built on the INGLO architecture and electric in nature. It builds on Mahindra eSUVs’ core philosophy of ‘infinite possibilities’ with a compelling and exciting concept. 

The rugged interior and exterior of the ‘BE.RALL-E’ concept may seem like it has drawn inspiration from those Land Rover SUVs which participated in the Camel Rally, the fact is, Mahindra & Mahindra has some wild and highly exciting SUV up the sleeve – both on the ICE side and the BEV side. 

It was not long ago that the automaker unveiled the Vision Thar.e Concept, Global Pik-Up Truck in Cape Town, South Africa. The Vision Thar.e Concept brought to the fore the automaker’s recently engineered subsidiary, Mahindra Electric Automobiles Limited (MEAL) besides highlighting a powerful and distinctive new visual identity for it with such a concept. 

Under the ‘Born Electric Vehicles’ nomenclature, the automaker leveraged the INGLO architecture to build the Vision Thar.e. The ‘BE.RALL-E’ concept also uses the same architecture. 

While claiming that the INGLO architecture is being honed to engineer some very interesting BEV vehicles in the future, it is the body-on-frame Global Pik Up truck – claimed to be based on the Scorpio N platform – that points at how Mahindra & Mahindra is leaving no stone unturned to further strengthen its position in the Indian SUV segments. The Mumbai-based automaker is also pushing for a larger pie of SUVs and pick-up trucks in markets like South Africa and Australia among others. 

In India, the company is expected to launch the XUV 300 facelift, an electric large SUV based on the XUV 700 and the five-door Thar. What the three vehicles, when introduced, may not fully reflect is the changes the automaker is carrying out at its research valley on the outskirts of Chennai. 

It has been investing into some fancy labs, product development tools, and test and validation equipment. It is in line with Prime Minister Narendra Modi’s call to ensure that there is a made-in-India vehicle running across most of the markets globally. Coming from a market that is currently being dominated by Japanese and Korean automakers, the rise of a homegrown automaker like Mahindra & Mahindra to the global stage – the Chinese automakers are just doing that with their EVs particularly – will be an expression of a country’s technological, manufacturing, design and entrepreneurial strength.

The technology transition and transformation could provide homegrown automakers like Mahindra & Mahindra and Tata Motors just the right opportunity to expand their presence to the global stage, aided albeit by the regulatory push in terms of safety and emissions. The BS VII emission regulation draft is ready as per the sources aware of the development. Its date of announcement could be as early as 2026 or 2027! 

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Vietnamese automaker VinFast Auto India has opened its largest showroom in the country in Chennai, Tamil Nadu. This marks the company’s first dealership in the state and is part of its plan to expand its retail presence across India.

The 4,700 sqft facility, located in Teynampet, is operated by Maansarovar Motors and will display VinFast's upcoming electric SUV models – the VF 6 and VF 7.

Pham Sanh Chau, CEO, VinFast Asia, said “Chennai’s legacy and its thriving ecosystem of innovation, skilled talent and advanced infrastructure make it a natural choice for VinFast’s first-ever dealership in Tamil Nadu, which is also our largest touchpoint across the country. With this dealership, we are proud to deepen our commitment to this dynamic city and bring our premium electric mobility solutions closer to discerning customers in Tamil Nadu. Chennai represents the spirit of progress and through our partnership with Maansarovar Motors, we aim to redefine the EV ownership journey – combining sustainability, technology and world-class service. This marks not just a retail milestone, but a meaningful step toward co-creating a greener, smarter, and future-ready India.”

As part of its expansion plans, the company aims to open 35 dealerships across 27 cities by end-2025. Pre-bookings for the VF 6 and VF 7 began on 15 July with a refundable booking amount of INR 21,000.

VinFast has partnered with RoadGrid, myTVS, and Global Assure to support charging infrastructure and after-sales services. It has also tied up with BatX Energies to promote battery recycling and develop a circular battery value chain.

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Maruti Suzuki India, the leading passenger vehicles manufacturer in the country, has reported its financial results for Q1 FY2026.

The company sold a total of 527,861 vehicles, which comprised 430,889 units in the domestic market and 96,972 units exported. This translated to a sales decline of 4.5 percent in the domestic market, while exports grew by 37.4 percent compared to a year ago.

Maruti Suzuki India’s reported registered net sales of INR 366.2 billion, up 8.11 percent YoY, as compared to INR 338.7 billion last year. The net profit came at INR 371 billion, up 1.7 percent, as compared to INR 364.9 billion last year.

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Hyundai Motor India, one of the leading passenger vehicle manufacturers in the country, has reported its financial performance for Q1 FY2026.

The company’s revenue came at INR 164.129 billion, down 5.36 percent YoY, the EBITDA came at INR 21.85 billion, down 6.62 percent YoY, while net profit at INR 13.69 billion was down 8 percent YoY.

Unsoo Kim, Managing Director said, “We continued our stated strategy of ‘Quality of Growth’ in the first quarter of FY 2026 with balance between domestic & exports, market share and profitability. This strategy helped us to sustain strong EBITDA margin of 13.3 percent during the quarter, despite tough macro-economic environment. Moving forward, we anticipate gradual recovery in domestic demand sentiments, driven by onset of monsoon & festive season coupled with government policy measures, while on the exports front, we are confident to maintain a positive momentum, in line with our growth commitments.”

Hyundai Motor India’s performance was affected by a slowdown in its overall volumes both in domestic and exports markets. Factors such as intensifying competition, geopolitical situation and tariff confusion have affected demand.

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Mumbai-headquartered SUV major Mahindra & Mahindra has reported a 24 percent YoY increase in consolidated net profit to INR 40.83 billion for Q1 FY2026, supported by strong performances across its automotive, farm and services businesses.

The consolidated revenue grew 22 percent to INR 455.29 billion in Q1 FY2026, while return on equity stood at 20.6 percent.

During the quarter, the company increased its revenue market share in the SUV segment to 27.3 percent, its LCV market share (up to 3.5 tonnes) to 54.2 percent, and its tractor segment market share to 45.2 percent.

The standalone automotive business recorded a 31 percent increase in revenue to INR 259.99 billion, with profit before interest and tax (PBIT) up 24 percent to INR 22.21 billion. SUV volumes reached 152,000 units, contributing to total vehicle sales of 247,249 units.

The farm equipment sector saw revenue rise 12 percent to INR 108.92 billion, with PBIT up 21 percent at INR 18.19 billion. Tractor volumes grew 10 percent to 132,964 units and standalone PBIT margins improved by 130 bps to 19.8 percent.

In the services segment, Mahindra Finance’s assets under management rose 15 percent, while Tech Mahindra’s EBIT margin increased by 260 bps to 11.1 percent, with a 34 percent jump in net profit.

Dr. Anish Shah, Group CEO & Managing Director, M&M, said, “Q1 FY2026 has been an excellent quarter, with broad-based growth across all our businesses. The operating excellence in our Auto and Farm businesses is evident in continued market share gains and margin expansion. TechM is witnessing momentum on deal wins, sustaining cost discipline and is moving steadily towards its FY2027 margin objectives. MMFSL’s calibrated approach to growth is manifesting in stable asset quality, with GS3 under 4 percent as committed. Our Growth Gems are progressing well on their value creation journeys.”

Rajesh Jejurikar, Executive Director & CEO (Auto and Farm Sector), M&M, said, “Our Auto and Farm businesses continue to lead with strong momentum in Q1 FY2026, with gain of 570 bps YoY in SUV revenue share, and 340 bps YoY in LCV (<3.5T) market share. In Tractors, we gained 50 bps YoY to reach 45.2 percent market share, the highest ever in a quarter. Our Auto Standalone PBIT margin (excl. eSUV contract mfg.) improved by 50 bps to 10 percent and core Tractor PBIT margins improved by 100 bps to 20.7 percent.”

Amarjyoti Barua, Group Chief Financial Officer, M&M, said, “We are pleased with the performance of the group in the quarter, despite several macro challenges including geo-political disruptions. It demonstrates the resilience of the group. With our continued focus on capital discipline & operational metrics, we remain committed to shareholder value creation.”

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