Passenger Vehicle (PV) Sales FY 2025-26: Maruti Suzuki Leads, 48,71,848 Units, Up 13.2% YoY
Every passenger vehicle (cars, UVs and taxis) registered in India over FY 2025-26 — April 2025 to March 2026. India's financial year runs April to March, the window every listed automaker reports on. Month-by-month volumes, the manufacturer leaderboard, how the segment moved against the rest of the market, and the same window in every earlier year on record.
Passenger Vehicle sales month by month, FY 2025-26
India's passenger vehicle market registered 48,71,848 passenger vehicles in FY 2025-26. Volumes pushed ahead 13.2% against the 43,03,328 logged over the same 12 months of FY 2024-25.
Passenger vehicles (PV, also called 4W) are privately registered cars and UVs plus taxis and cabs, which Vahan books as a class of their own. In FY 2025-26 that was 44,93,616 cars and UVs and 3,78,232 taxis and cabs; taxis were 7.8% of the total. Against FY 2024-25, cars and UVs were +13.1% and taxis +13.9%.
October was the strongest month of the period at 5,89,739 passenger vehicles and June the quietest at 3,17,587, an average of 4,05,987 a month. Every one of those 12 months grew on the same month a year earlier.
FY 2025-26 ran from April 2025 to March 2026 and is closed. Every month in the table below is final, and every comparison on this page is against the matching month of FY 2024-25.
Passenger vehicles accounted for 15.8% of everything registered in India over the period, up from 15.8% in FY 2024-25. The whole market ran to 3,08,42,755 vehicles over the same window, up 13.2% year on year.
Passenger Vehicle registrations by month — FY 2025-26 vs FY 2024-25
Vahan retail registrations, each month set against the same month a year earlier.
Every completed month of FY 2025-26, with the matching month of FY 2024-25 beside it.
| Month | FY 2025-26 units | FY 2024-25 units | YoY | Share of period |
|---|---|---|---|---|
| April 2025 | 3,75,106 | 3,55,619 | +5.5% | 7.7% |
| May 2025 | 3,24,005 | 3,23,227 | +0.2% | 6.7% |
| June 2025 | 3,17,587 | 3,01,537 | +5.3% | 6.5% |
| July 2025 | 3,47,509 | 3,42,976 | +1.3% | 7.1% |
| August 2025 | 3,44,624 | 3,31,441 | +4.0% | 7.1% |
| September 2025 | 3,21,387 | 2,93,776 | +9.4% | 6.6% |
| October 2025 | 5,89,739 | 5,12,201 | +15.1% | 12.1% |
| November 2025 | 4,24,706 | 3,47,750 | +22.1% | 8.7% |
| December 2025 | 3,99,488 | 3,09,635 | +29.0% | 8.2% |
| January 2026 | 5,43,310 | 4,96,262 | +9.5% | 11.2% |
| February 2026 | 4,15,392 | 3,21,394 | +29.2% | 8.5% |
| March 2026 | 4,68,995 | 3,67,510 | +27.6% | 9.6% |
Each month links through to its own full report.
Which manufacturer sold the most, FY 2025-26
Maruti Suzuki led the period with 19,30,252 registrations, up 11.4% on FY 2024-25. Mahindra follows on 6,11,857, 13,18,395 behind — a gap of 3.15x.
The fastest riser in the top 8 was Tata Motors (EV), up 40.2% to 85,359.
Volumes here are registrations inside the segment only, counted with Vahan's own vehicle-class filter, so each is the manufacturer's passenger vehicle volume over FY 2025-26. Companies that file electric models under a maker of their own appear as separate rows.
Top manufacturers by registrations — FY 2025-26
Registrations inside the segment (passenger vehicles only).
Exact registrations over April 2025 to March 2026, with the change against FY 2024-25.
| # | Manufacturer | FY 2025-26 units | Share of passenger vehicles | vs FY 2024-25 |
|---|---|---|---|---|
| 1 | Maruti Suzuki | 19,30,252 | 39.62% | +11.4% |
| 2 | Mahindra | 6,11,857 | 12.56% | +15.5% |
| 3 | Hyundai | 5,99,478 | 12.30% | +2.9% |
| 4 | Tata Motors (PV) | 5,49,102 | 11.27% | +11.7% |
| 5 | Toyota Kirloskar | 3,46,162 | 7.11% | +21.3% |
| 6 | Kia India | 2,93,862 | 6.03% | +15.3% |
| 7 | Skoda | 1,16,329 | 2.39% | +29.9% |
| 8 | Tata Motors (EV) | 85,359 | 1.75% | +40.2% |
| 9 | MG Motor | 72,991 | 1.50% | +18.1% |
| 10 | Honda Cars | 63,991 | 1.31% | −6.1% |
| 11 | Mahindra Electric Automobile | 41,320 | 0.85% | +2061.1% |
| 12 | Renault India | 39,141 | 0.80% | +1.4% |
| 13 | Nissan India | 22,745 | 0.47% | −8.8% |
| 14 | BMW India | 18,405 | 0.38% | +15.7% |
| 15 | Mercedes-Benz | 18,176 | 0.37% | +3.9% |
Passenger Vehicle sales against the rest of the market
Set against the rest of the market, passenger vehicles matched the national picture over FY 2025-26: +13.2% against +13.2% for every vehicle registered in India.
The table covers every segment Vahan reports over the same 12-month window, so the comparison is like for like — the same months, the same source, on both sides.
Passenger Vehicle share of the Indian market, month by month
Passenger vehicles as a percentage of every vehicle registered that month.
Exact segment volumes over April 2025 to March 2026.
| Segment | FY 2025-26 units | Share | vs FY 2024-25 |
|---|---|---|---|
| Two-Wheelers | 2,21,64,886 | 71.86% | +13.1% |
| Cars & UVs | 44,93,616 | 14.57% | +13.1% |
| Three-Wheelers | 14,16,966 | 4.59% | +12.2% |
| Tractors | 10,67,318 | 3.46% | +18.7% |
| Goods Carriers | 9,67,864 | 3.14% | +11.9% |
| Taxis & Cabs | 3,78,232 | 1.23% | +13.9% |
| Other classes | 2,28,346 | 0.74% | +6.6% |
| Buses | 1,25,527 | 0.41% | +7.4% |
What passenger vehicles run on
Vahan splits a segment by fuel only across a whole calendar year, so this table covers 2026 year to date rather than FY 2025-26 alone — it is exact for that window.
Petrol accounts for 43.4% of passenger vehicle registrations over 2026 year to date, with battery-electric at 6.6%.
Passenger Vehicle registrations by fuel — 2026 year to date
The 2026 year to date mix.
| Fuel | 2026 units | Share | vs full-year 2025 |
|---|---|---|---|
| Petrol | 18,84,333 | 43.35% | −5.07pp |
| CNG / LPG | 10,35,607 | 23.83% | +2.46pp |
| Diesel | 7,67,849 | 17.67% | −0.36pp |
| Hybrid | 3,72,063 | 8.56% | +0.62pp |
| Electric | 2,85,816 | 6.58% | +2.35pp |
| Other | 874 | 0.02% | +0.01pp |
Passenger Vehicle sales by financial year
Across the 2 completed windows in our Vahan record, passenger vehicle registrations went from 43,03,328 in FY 2024-25 to 48,71,848 in FY 2025-26, up 13.2% over the stretch.
FY 2026-27 is still running — 6 of its 12 months are counted — so it is a part window and is never set against a full one. Its year-on-year figure compares only the months it actually holds.
Passenger Vehicle registrations by financial year
* window still in progress.
| Period | Months | Units | YoY |
|---|---|---|---|
| FY 2026-27 (to date) | 6 | 25,48,505 | +25.5% |
| FY 2025-26 | 12 | 48,71,848 | +13.2% |
| FY 2024-25 | 12 | 43,03,328 | +4.7% |
Each row compares only the months that window holds, so a part period is never set against a full one.
Frequently asked questions
How many passenger vehicles were sold in India in FY 2025-26?
What counts as a passenger vehicle (PV)?
What period does FY 2025-26 cover?
Which manufacturer sold the most passenger vehicles in FY 2025-26?
Which was the strongest month for passenger vehicle sales in FY 2025-26?
What share of the Indian market were passenger vehicles in FY 2025-26?
Which financial year had the highest passenger vehicle sales?
Are these retail sales or factory dispatches?
Passenger Vehicle sales, other periods
More from the reports desk
Source. Every figure is a vehicle registration, taken from the Ministry of Road Transport & Highways' Vahan 4 dashboard (vahan.parivahan.gov.in) — the same source FADA and the industry use for retail data. Registrations are not the wholesale dispatch numbers manufacturers announce each month. "EV" means battery electric (Vahan fuels PURE EV and ELECTRIC(BOV)); hybrids are counted separately. Information only, not investment advice.
Using these numbers? Cite "Flash Finance (Vahan data)" with a link to this page. This report's chart card is free to republish with the same credit.
