Maruti, Hyundai, Mahindra post record October sales as passenger vehicle dispatches cross 5-lakh mark

India's passenger vehicle (PV) wholesales crossed the 5-lakh mark for the first time in October, driven by strong festive demand, with leading automakers such as Maruti Suzuki, Hyundai Motor India and Mahindra & Mahindra (M&M) reporting their highest-ever monthly sales. Domestic passenger vehicle dispatches to dealers are estimated at 5.25-5.3 lakh units in October, compared with 4.6 lakh units in the corresponding month last year. This translates into year-on-year growth of around 13-15 per cent, despite a high base in October 2025. "My take is, the industry should be between 5.25-5.3 lakh units," said Partho Banerjee, senior executive officer at Maruti Suzuki.

Market leader Maruti Suzuki reported domestic passenger vehicle dispatches of 2.12 lakh units in October, registering 20 per cent growth over the year-ago period. Tata Motors recorded a 21 per cent increase in domestic wholesales to 73,894 units, while Mahindra & Mahindra posted 2 per cent growth to 73,338 units. Hyundai Motor India reported a 16.7 per cent rise in domestic wholesales to 62,799 units. Festive demand drives October dispatches The strong wholesale numbers were largely supported by automakers stocking up dealerships ahead of the peak festive buying period. With Dhanteras and Diwali falling in the first half of November, October dispatches largely reflect preparations by manufacturers to meet expected festive demand.

"With Dhanteras and Diwali in the first half of November, October wholesales largely reflect OEMs stocking up dealers ahead of peak festive deliveries. October registrations, by contrast, are expected to decline against last year's high festive base, as a significant share of festive deliveries shifts into November," said Gaurav Vangaal, associate director for Light Vehicle Production Forecasting at Mobility Global. October's growth also comes against a high base in the previous year. In 2025, vehicle sales between mid-August and mid-September remained subdued as buyers postponed purchases in anticipation of a goods and services tax (GST) reduction.

After the lower GST rates came into effect in the last week of September, demand recovered sharply, supporting strong sales through the festive season and into October. Maruti, Hyundai and Mahindra highlight strong demand Hyundai Motor India Managing Director and CEO Tarun Garg attributed the company's record performance to strong festive demand and momentum in domestic and export markets. "Strong festive demand, coupled with healthy momentum in both domestic and export markets, helped us set this new sales record," Garg said. Mahindra & Mahindra's Automotive Business President Velusamy R also described October as a landmark month for the company, citing festive demand and its refreshed vehicle portfolio.

GST cuts, lower borrowing costs support auto demand The passenger vehicle industry has maintained strong growth momentum since GST rates were reduced last year. Lower borrowing costs have also improved vehicle affordability, while recent income tax reforms have left consumers with additional disposable income, supporting demand. During the first half of the current financial year, domestic passenger vehicle sales grew 28.3 per cent to 20.55 lakh units. Key Takeaways 5.25-5.3 lakh October PV Wholesales Domestic passenger vehicle dispatches to dealers are estimated at 5.25-5.3 lakh units in October, compared with 4.6 lakh units in the corresponding month last year.

13-15% YoY PV Growth This translates into year-on-year growth of around 13-15 per cent, despite a high base in October 2025. 2.12 lakh units Maruti Suzuki Wholesales Market leader Maruti Suzuki reported domestic passenger vehicle dispatches of 2.12 lakh units in October, registering 20 per cent growth over the year-ago period. 73,894 units Tata Motors Wholesales Tata Motors recorded a 21 per cent increase in domestic wholesales to 73,894 units in October. OUTLOOK October registrations are expected to decline against last year's high festive base, as a significant share of festive deliveries shifts into November.   *With Agency Inputs