But behind the headline numbers lies a more nuanced picture. While October surged on festive power, the broader April–October (H1 FY26) performance indicates a market that is recovering, but not rapidly accelerating. Growth is being driven by strong pockets, SUVs, scooters, motorcycles and passenger three-wheelers, while other sub-segments continue to be sluggish.
Segment |
Production (Units) |
Domestic Sales (Units) |
Exports (Units) |
| Passenger Vehicles | 4,03,270 | 4,60,739 | 68,738 |
| Three-Wheelers | 1,19,885 | 81,288 | 41,866 |
| Two-Wheelers | 22,77,572 | 22,10,727 | 4,30,035 |
| Quadricycles | 685 | — | 552 |
| Total | 28,01,412 | 26,91,620 | 5,41,191 |
Passenger Vehicles
Passenger vehicles have ridden the festive wave convincingly in October 2025, to reach 4,60,739 units, up a healthy 17.2 per cent over last year. SUVs continued to be the engine of this growth, with utility vehicles clocking a 19.3 per cent gain, while passenger cars managed a more steady 8.4 per cent gain.
Vans also joined in with 16.2 per cent growth, indicating across-the-board recovery across body styles. On the cumulative front, the segment reported only modest gains in the first seven months of the fiscal, up 1 per cent to 24.50 lakh units, while exports told a better story.
PV exports in H1 went up by 17.4 per cent to 5.14 lakh units, marking India’s growing clout in compact car and SUV export markets. For October, PV exports touched 68,738 units, up 11.7 per cent, while production for the month went up 9.8 per cent to 4,03,270 units, underlining strong factory momentum.
Two-Wheelers
In the two-wheeler market, October 2025 was a story of contrasts. Total domestic dispatches attained 22,10,727 units, a growth of 2.1 per cent YoY. Scooters, on the back of strong urban sentiment and renewed affordability post GST cuts, posted a strong 14.3 per cent growth in sales.Motorcycles, however, were in negative territory, sliding 4 per cent with the lingering rural softness making its presence felt. Mopeds fell marginally by 2.1 per cent.
During the April- October 2025 period, two wheeler sales grew marginally by 1 per cent to 1.24 crore units, indicating that recovery in demand remains steady but far from vigorous. Exports, however, turned out to be the real bright spot for the segment: H1 saw shipments surge 23.1 per cent to 28.62 lakh units, powered overwhelmingly by motorcycles, which jumped 26.3 per cent.
October merely reinforced this momentum, with exports rising 17.7 per cent to 4,30,035 units. Production for the month, though, slipped 5.6 per cent to 22,77,572 units as OEMs balanced output after an aggressive build-up in prior months.
Three-Wheelers
Three-wheelers continued their remarkable comeback through October 2025, with domestic sales touching 81,288 units, up 5.9 percent from a year earlier. Passenger carriers led the growth with 7.6 percent, while goods carriers chipped in with a more modest 2.8 percent, with electric variants still under pressure.
The cumulative numbers for April-October 2025 therefore tell a story of a segment that’s firmly back on its feet: Domestic sales rose 5.6 percent to 4,75,738 units and exports surged a strong 45.1 percent to 2,61,142 units, making three-wheelers one of India’s topmost outbound performers this fiscal.
Exports in October surged 56.2 per cent to 41,866 units due to strong demand from Africa and neighboring developing markets. Production for the month went up 15.9 percent to 1,19,885 units, reflecting manufacturers’ confidence in sustained demand.
Commercial Vehicles
Industry indications are that the festive season and logistics push did help the commercial vehicle segment, although not quite to the extent it helped PVs or two-wheelers. The broader freight, construction movement, and festive haulage demand point towards a stabilizing rather than accelerating market.
Export trends continue to be uneven for CVs in FY26 so far, with medium and heavy commercial vehicles relatively stronger compared to the light commercial vehicle category. Although exact numbers for October are not available, sentiment points to a cautiously optimistic market that is still waiting for a decisive growth trigger in the months ahead.
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First Published Date: 14 Nov 2025, 15:04 pm IST
