Record-Breaking October: Passenger Vehicle Sales Surge Past 5 Lakh in India

In October 2024, India's domestic passenger vehicle sales soared past the 5 lakh mark, driven by strong festive demand. Major automakers like Maruti Suzuki, Hyundai, and Mahindra & Mahindra reported record monthly sales. Estimates indicate wholesales ranged between 5.25 and 5.3 lakh units, reflecting a significant year-on-year growth. This surge follows a period of subdued sales due to anticipation of GST cuts, which, once implemented, led to a rebound in demand. The industry continues to thrive, supported by lower borrowing costs and recent tax reforms that have increased consumer spending power.

By Narendra Chaudhary Nov 1, 2026, 19:47 IST

Passenger Vehicle Sales Hit New Heights

New Delhi: Driven by strong festive demand, the dispatches of domestic passenger vehicles exceeded the impressive 5-lakh threshold in October. Major manufacturers like Maruti Suzuki, Hyundai, and Mahindra & Mahindra achieved their highest monthly sales figures to date.

Estimates suggest that domestic passenger vehicle wholesales for October ranged between 5.25 and 5.3 lakh units, a notable increase from 4.6 lakh units in October 2025. This indicates a year-on-year growth of approximately 13-15%, despite the high sales figures from the previous year.

Partho Banerjee, senior executive officer at Maruti Suzuki, commented, "I believe the industry will land between 5.25 and 5.3 lakh units."

As the market leader, Maruti Suzuki reported dispatches of 2.12 lakh units in October, marking a 20% increase compared to the previous year. Tata Motors also saw a 21% rise, reaching 73,894 units, while Mahindra & Mahindra recorded a modest 2% increase to 73,338 units. Hyundai's domestic wholesales rose by 16.7% to 62,799 units.

Gaurav Vangaal, Associate Director for Light Vehicle Production Forecasting at Mobility Global, noted, "With Dhanteras and Diwali occurring in early November, the wholesales in October primarily reflect OEMs preparing their dealers for peak festive deliveries. However, October registrations are likely to decline compared to last year's high festive base, as many deliveries will shift to November."

The growth in October comes on the heels of a high sales base. In 2025, sales were subdued from mid-August to mid-September as consumers anticipated a GST reduction. Following the implementation of lower rates in late September, demand surged, leading to strong sales during the festive season and into October.

Tarun Garg, MD and CEO of Hyundai Motor India, stated, "The combination of strong festive demand and healthy growth in both domestic and export markets has enabled us to achieve this new sales record."

Mahindra & Mahindra's Automotive Business President, Velusamy R, also highlighted that October was a significant month for the company, attributing the strong demand to the festival season and a refreshed product lineup.

The passenger vehicle sector has sustained robust growth momentum since the GST rate cuts last year. Lower borrowing costs have enhanced affordability, and recent income tax reforms have provided consumers with more disposable income. In the first half of the current financial year, domestic passenger vehicle sales surged by 28.3%, totaling 20.55 lakh units.