Domestic PV dispatches cross five-lakh units mark in October on strong festive demand

Buoyed by robust festive demand, domestic passenger vehicle dispatches breached the record 5-lakh mark in October, with leading automakers such as Maruti Suzuki, Hyundai and Mahindra & Mahindra recording their highest-ever monthly sales.

Domestic passenger vehicle wholesales in October are estimated in the range of 5.25-5.3 lakh units, against 4.6 lakh units in October 2025. This should represent growth of around 13-15% year-on-year despite a high base in the year-ago period.

“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, which represents growth of 20% year-on-year. Tata Motors recorded 21% growth to 73,894 units, while M&M posted a 2% rise to record 73,338 units. Hyundai posted a 16.7% increase in domestic wholesales to 62,799 units.

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 comes on a high base. In 2025, sales from mid-August to mid-September were subdued as buyers held off purchases, expecting a GST cut. After the lower rates took effect in the last week of September, demand rebounded, driving strong sales through the festive season and into October.

“Strong festive demand, coupled with healthy momentum in both domestic and export markets, helped us set this new sales record,” said Hyundai Motor India MD and CEO Tarun Garg.

Mahindra & Mahindra’s Automotive business President Velusamy R also noted that October was a landmark month for the company with the festival season together with a refreshed portfolio keeping the demand strong.

The passenger vehicle industry has maintained robust growth momentum since GST rates were cut last year. Lower borrowing costs have also improved affordability, while recent income tax reforms have left consumers with more money to spend. In the first half of the current financial year, domestic passenger vehicle sales grew 28.3% to 20.55 lakh units.