Mahindra has executed brilliantly in the Indian SUV market — Scorpio-N, XUV700, Thar Roxx are top sellers and price-mix continues to improve. EV strategy (BE 6, XEV 9e) launched with credible products at the right price points. Tractor business at cyclical low offering optionality. Tech Mahindra subsidiary turning around under new CEO.
Thesis reviewed May 29, 2026
Mahindra & Mahindra Ltd is headquartered in India, which is currently showing moderate signals.
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Investors who hold MBFY may also have indirect exposure through these country funds.
Mahindra SUV market share hits 22%, displaces Hyundai for #2
BE 6 and XEV 9e EV bookings exceed 50K in first month
Tractor industry rural recovery showing early signs