India’s passenger vehicles (PV) industry with sales of about 47 lakh units in FY26 grew over 8% as compared with 43.4 lakh units sold in the previous year according to data collated by Maruti Suzuki India Ltd (MSIL), India’s top PV company with over 40% domestic market share.

Almost all PV companies reported double digit growth, mainly on account of higher sales during the second half of the financial year.

“Three tailwinds helped the industry during FY26. These included the income tax relief provided by the government which left more money in the hands of people so that they could give down payment, the 100 basis points repo rate cut by the RBI that helped in lower EMI and GST 2.0 that reduced the prices of cars. All these three factors were the catalyst,” said Partho Banerjee, senior executive officer, Marketing & Sales, Maruti Suzuki.

He said the only challenge currently is the rise in input cost. The company, he said has been absorbing the cost for months and now will soon increase prices of its model as cost has risen due to increase in commodity prices as well as rise in logistics cost due to war in West Asia.

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Rahul Bharti, senior executive officer, Corporate Affairs, Maruti Suzuki said as of now there has been no supply chain issue due to the war and the company would continue its manufacturing activity normally.

Due to the impact of geopolitical issues the PV industry growth will be bit lower in FY27 and is expected to be about 5%, industry officials said.

Maruti Suzuki for the month of March reported total sales of over 2.2 lakh units up 16.7% Year on Year (YoY). In the March the company exported over 47,000 units; up 42.7% YoY. Export contribution to total sales amounted to 20.9%. “12.5% of our exports are into West Asia and because we export to 100 countries, exports were not impacted,” said Mr. Bharti adding “we are buoyant on exports in FY27.” 

In FY26 Maruti Suzuki reported total sales of 24.2 lakh units as against 22.3 lakh units a year ago, up 8.5% YoY. It achieved annual export volume of 4.47 lakh units; up 34.6% YoY. Export contribution to total sales was 18.5%. Its sedan Dzire emerging as the industry’s top selling model, touching 2.3 lakh units

Hyundai Motor India Ltd (HMIL) achieved total Q4 sales of 2,08,275 units in the January to March 2026 period, up 8.7% YoY. This includes domestic Q4 sales of 1,66,578 units (up 8.5% YoY) and Q4 exports of 41,697 units (up 9.4% YoY).

HMIL also achieved total monthly sales of 69,004 units in March 2026, including domestic sales of 55,064 units and exports of 13,940 units, up 2.5% YoY. Tarun Garg, MD & CEO, HMIL, said “We remain confident of sustaining the pace with upcoming product interventions.”

Tata Motors Passenger Vehicles Ltd clocked sales of 6.42 lakh units in FY26, up 15% YoY. EV sales surpassed 92,000 units, up 43% YoY growth.

In March it sold 66,971 units of PV and EVs as compared with 51,872 units a year ago, up 29%.

Shailesh Chandra, MD and CEO, Tata Motors Passenger Vehicles Ltd said “Looking ahead, industry momentum is expected to sustain, led by growth in SUVs, CNG and EV. At the same time, the industry will need to closely monitor geopolitical developments to mitigate potential supply-side risks.”

“We expect to build on the strong momentum of H2 and continue to deliver industry-beating growth in FY27, supported by recent launches, a strong pipeline of new products, and established multi-powertrain strategy,” he said.

Mahindra & Mahindra Ltd. (M&M), announced that its overall auto sales for March 2026 stood at 99,969 vehicles including 60,272 units of SUVs, a growth of 21% including exports over the same period last year.

For FY26 the company achieved SUV sales of 6,60,276 units and 2,89,597 units of LCVs (3.5T), delivering YoY growth of 20% and 13%, respectively.

Toyota Kirloskar Motor (TKM) ) said in FY26 it sold 4,06,081 units, up 20% YoY. In March 2026 it sold 37,194 units, up 24% YoY. 

Kia India, reported 14.5% YoY growth in March 2026 at 29,112 units, over 25,525 units sold a year ago.

The company also delivered its strongest-ever quarterly performance, with Q1 2026 sales at 84,316 units, registering an 11.6% increase over 75, 576 units sold in Q1 2025.

Škoda Auto India in March 2026 sold 7,928 units as compared with 7,422 units a year ago. In FY26 it sold 75,555 units as compared with 44,869 units a year ago, up 68%. 

Renault India for March 2026 reported 77% growth YoY by selling 5,046 units.in FY26 its sales grew 11% YoY to 42,018 units.

JSW MG Motor India recorded 19% YoY growth March by selling 6,528 units. The company has already increased prices by upto 2% on its MG portfolio and 7% on the MG Select portfolio effective April 1, 2026.

Published – April 01, 2026 06:01 pm IST