Maruti vs Mahindra vs Hyundai: Sales are booming, but only one grew profits

Four-wheeler companies reported buoyant demand conditions in the September 2026 quarter and that’s despite elevated fuel prices, given the Middle East crisis. Mahindra & Mahindra grew its SUV sales by 26% y-o-y however, tractor sales felt the impact of weak monsoon in the quarter itself. Maruti Suzuki India had its highest-ever quarterly sales.