Passenger Vehicle (PV) Sales January 2026: Maruti Suzuki Leads, 5,43,310 Units Registered
Full Vahan registration report for passenger vehicles (cars, UVs and taxis) in January 2026 — every major manufacturer ranked, with month-on-month and year-on-year change, segment share, fuel mix and the state-wise picture.
How January went
India's passenger vehicle market registered 5,43,310 vehicles in January 2026. Volumes rose 9.5% against January 2025, and jumped 36.0% on December 2025. It was the strongest January in that record.
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 January 2026 that was 5,09,342 cars and UVs and 33,968 taxis and cabs; taxis were 6.3% of the total. Against January 2025, cars and UVs were +11.0% and taxis −9.0%.
That is 11 consecutive months of year-on-year growth for the segment. Year to date, 5,43,310 units have been registered across 1 month, +9.5% on the same stretch of 2025 (4,96,262). The segment accounted for 19.1% of every vehicle registered in India that month.
January carries the new-year registration rush — buyers who took delivery in late December often register in the first week.
Monthly passenger vehicle registrations, 2023–2026
One line per calendar year — the shape of the year, not just its total. The dashed end of the current year is the month so far.
Manufacturer scoreboard
Maruti Suzuki led the segment with 2,25,987 registrations, ahead of Hyundai on 69,608 — a gap of 1,56,379 units, wider than the 1,05,827 it held in December.
Tata Motors (EV) grew fastest among the segment's biggest names at +54.5% year on year (9,183 units).
On share rather than volume — the number that decides who is actually winning — Tata Motors (EV) has added 0.94pp of the segment in 2026 so far, while Hyundai has given up 0.95pp.
Top 10 manufacturers, January 2026
Registrations in the month
Ranked by registrations in the month, with month-on-month and year-on-year change. Click a name for its full dashboard.
| # | Manufacturer | Jan 2026 | MoM | YoY | Share of passenger vehicles |
|---|---|---|---|---|---|
| 1 | Maruti Suzuki | 2,25,987 | +44.2% | +2.1% | 41.59% |
| 2 | Hyundai | 69,608 | +36.7% | +8.6% | 12.81% |
| 3 | Mahindra | 63,822 | +32.4% | +13.0% | 11.75% |
| 4 | Tata Motors (PV) | 58,958 | +23.1% | +14.0% | 10.85% |
| 5 | Toyota Kirloskar | 37,797 | +34.3% | +19.3% | 6.96% |
| 6 | Kia India | 32,446 | +46.0% | +33.6% | 5.97% |
| 7 | Skoda | 10,821 | +6.9% | +6.3% | 1.99% |
| 8 | Tata Motors (EV) | 9,183 | +22.0% | +54.5% | 1.69% |
| 9 | MG Motor | 6,883 | +38.9% | −5.2% | 1.27% |
| 10 | Honda Cars | 6,341 | +5.4% | −23.7% | 1.17% |
| 11 | Renault India | 4,864 | +46.0% | +22.8% | 0.90% |
| 12 | Mahindra Electric Automobile | 3,614 | +16.5% | +17109.5% | 0.67% |
| 13 | Nissan India | 2,460 | +36.9% | −5.4% | 0.45% |
| 14 | BMW India | 2,160 | +23.1% | +13.4% | 0.40% |
| 15 | Mercedes-Benz | 1,924 | +31.5% | +5.0% | 0.35% |
Registrations inside the segment only, counted with Vahan's own vehicle-class filter, so each number is that manufacturer's passenger vehicle volume (its cars and UVs plus its taxis and cabs). Companies that file electric models under a maker of their own (Tata, Mahindra) appear as separate rows.
Market share, year to date
Share is measured inside the segment itself — only passenger vehicle volume counts on either side of the ratio. Volume is 2026 year to date. The comparison is against the whole of 2025.
Exact segment volume per manufacturer over 2026 year to date, and the change in share against full-year 2025.
| # | Manufacturer | 2026 units | Share | vs full-year 2025 |
|---|---|---|---|---|
| 1 | Maruti Suzuki | 17,32,881 | 39.87% | −0.01pp |
| 2 | Mahindra | 5,22,074 | 12.01% | −0.53pp |
| 3 | Hyundai | 5,03,552 | 11.59% | −0.95pp |
| 4 | Tata Motors (PV) | 4,81,057 | 11.07% | +0.03pp |
| 5 | Toyota Kirloskar | 2,91,420 | 6.70% | −0.43pp |
| 6 | Kia India | 2,68,562 | 6.18% | +0.30pp |
| 7 | Tata Motors (EV) | 1,12,415 | 2.59% | +0.94pp |
| 8 | Skoda | 87,888 | 2.02% | −0.45pp |
| 9 | MG Motor | 65,555 | 1.51% | −0.05pp |
| 10 | Mahindra Electric Automobile | 60,622 | 1.39% | +0.74pp |
| 11 | Honda Cars | 53,519 | 1.23% | −0.19pp |
| 12 | Renault India | 37,356 | 0.86% | +0.07pp |
| 13 | Nissan India | 27,267 | 0.63% | +0.15pp |
| 14 | BMW India | 16,820 | 0.39% | +0.01pp |
| 15 | Vinfast Auto India | 14,766 | 0.34% | +0.32pp |
Fuel mix
Petrol accounts for 43.4% of the segment's registrations in 2026 so far. Electric is at 6.58%, a move of +2.35pp on 2025 on volume of 2,85,816 units.
Passenger Vehicle fuel mix, 2026
Share of segment registrations 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 |
Share is of this report's own scope over 2026 year to date, compared with the whole of 2025.
Where the demand is
Maharashtra was the largest market in 2026 year to date with 5,24,760 registrations, 12.1% of the segment's national total. Uttar Pradesh (4,60,169) and Gujarat (3,62,151) followed. Tamil Nadu has gained the most ground, adding 0.72pp of the national total.
Segment registrations over 2026 year to date, by state.
| # | State | Units | Share | vs full-year 2025 |
|---|---|---|---|---|
| 1 | Maharashtra | 5,24,760 | 12.1% | −0.09pp |
| 2 | Uttar Pradesh | 4,60,169 | 10.6% | −0.42pp |
| 3 | Gujarat | 3,62,151 | 8.3% | −0.03pp |
| 4 | Tamil Nadu | 3,23,471 | 7.4% | +0.72pp |
| 5 | Karnataka | 3,21,667 | 7.4% | +0.16pp |
| 6 | Haryana | 2,86,566 | 6.6% | −0.39pp |
| 7 | Kerala | 2,40,417 | 5.5% | +0.17pp |
| 8 | Rajasthan | 2,36,730 | 5.4% | −0.14pp |
| 9 | Madhya Pradesh | 1,94,136 | 4.5% | −0.06pp |
| 10 | Delhi | 1,85,027 | 4.3% | +0.06pp |
| 11 | Punjab | 1,68,548 | 3.9% | −0.01pp |
| 12 | Telangana | 1,68,172 | 3.9% | +0.07pp |
Frequently asked questions
How many passenger vehicles were sold in India in January 2026?
What counts as a passenger vehicle (PV)?
Which company sold the most passenger vehicles in January 2026?
What is the passenger vehicle market share in India in 2026?
What share of passenger vehicles sold in India are electric?
Which state registers the most passenger vehicles in India?
Are these wholesale dispatches or retail sales?
Passenger Vehicle sales, earlier months
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.
