India’s domestic passenger vehicle (PV) market experienced robust growth in September 2025, with wholesales climbing 5.4% year-on-year to 381,437 units, fueled by GST rationalisation and the festive season surge. Retail sales performed even stronger, reaching nearly 400,000 units, up from 320,000 units a year earlier, according to Partho Banerjee, Senior Executive Officer (Marketing and Sales) at Maruti Suzuki.
Maruti Suzuki reported a 9.1% increase in domestic wholesales to 144,962 units, with bookings exceeding 350,000—a 35% rise from last year. The newly launched SUV, Victoris, garnered 25,000 bookings, while retail sales climbed 27.5% YoY to 173,500 units. Tata Motors moved into second place with 59,667 units, marking a 45.3% increase, while Mahindra & Mahindra (M&M) recorded 56,233 units, up 10.1%. Hyundai saw a modest 0.9% rise to 51,547 units, ranking fourth. Maruti also achieved record exports of 42,204 units, a 52.2% increase.
The festive demand created logistical challenges for automakers, with vehicle dispatch delays following the GST adjustments. Banerjee noted that truck round trips now take nearly 20 days, although operations are expected to normalise by October 10. Tata Motors’ Managing Director, Shailesh Chandra, described September as a “watershed month,” with total PV sales, including exports, reaching 60,907 units—a 47% YoY increase. The company’s electric vehicle sales nearly doubled to 9,191 units, and CNG vehicle sales rose 105% to 17,800 units in Q2 FY26.
M&M reported 100,298 total vehicle sales, up 16%, led by strong SUV and commercial vehicle demand. Two-wheeler manufacturers also benefited from the festive period: Hero MotoCorp’s sales rose 5% to 647,582 units, TVS Motor increased 12% to 413,279 units, and Bajaj Auto grew 5.3% to 273,188 units. The combined effect of GST reductions and festive demand underscores the sector’s resilience and the growing consumer appetite for both traditional and alternative fuel vehicles.
