Passenger Vehicle (PV) Sales Q3 FY 2024-25: Maruti Suzuki Leads, 11,69,586 Units, Up 8.7% YoY
Every passenger vehicle (cars, UVs and taxis) registered in India over Q3 FY 2024-25 — October 2024 to December 2024. Q3 of the financial year, October to December. 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, Q3 FY 2024-25
India's passenger vehicle market registered 11,69,586 passenger vehicles in Q3 FY 2024-25. Volumes improved 8.7% against the 10,75,805 logged over the same 3 months of Q3 FY 2023-24.
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 Q3 FY 2024-25 that was 10,94,112 cars and UVs and 75,474 taxis and cabs; taxis were 6.5% of the total. Against Q3 FY 2023-24, cars and UVs were +8.6% and taxis +10.0%.
October was the strongest month of the period at 5,12,201 passenger vehicles and December the quietest at 3,09,635, an average of 3,89,862 a month. 1 of those 3 months grew on the same month a year earlier.
October is the festive peak. Navratri and Diwali make it the single biggest registration month of most years, so year-on-year comparisons swing on where the festivals fall.
Q3 FY 2024-25 ran from October 2024 to December 2024 and is closed. Every month in the table below is final, and every comparison on this page is against the matching month of Q3 FY 2023-24.
Passenger vehicles accounted for 14.3% of everything registered in India over the period, down from 14.7% in Q3 FY 2023-24. The whole market ran to 81,63,589 vehicles over the same window, up 11.6% year on year.
Passenger Vehicle registrations by month — Q3 FY 2024-25 vs Q3 FY 2023-24
Vahan retail registrations, each month set against the same month a year earlier.
Every completed month of Q3 FY 2024-25, with the matching month of Q3 FY 2023-24 beside it.
| Month | Q3 FY 2024-25 units | Q3 FY 2023-24 units | YoY | Share of period |
|---|---|---|---|---|
| October 2024 | 5,12,201 | 3,74,646 | +36.7% | 43.8% |
| November 2024 | 3,47,750 | 3,88,600 | −10.5% | 29.7% |
| December 2024 | 3,09,635 | 3,12,559 | −0.9% | 26.5% |
Each month links through to its own full report.
Which manufacturer sold the most, Q3 FY 2024-25
Maruti Suzuki led the period with 4,65,468 registrations, up 6.1% on Q3 FY 2023-24. Hyundai follows on 1,61,554, 3,03,914 behind — a gap of 2.88x.
The fastest riser in the top 8 was Toyota Kirloskar, up 38.3% to 74,538, while Skoda was down 7.9% at 22,832.
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 Q3 FY 2024-25. Companies that file electric models under a maker of their own appear as separate rows.
Top manufacturers by registrations — Q3 FY 2024-25
Registrations inside the segment (passenger vehicles only).
Exact registrations over October 2024 to December 2024, with the change against Q3 FY 2023-24.
| # | Manufacturer | Q3 FY 2024-25 units | Share of passenger vehicles | vs Q3 FY 2023-24 |
|---|---|---|---|---|
| 1 | Maruti Suzuki | 4,65,468 | 39.80% | +6.1% |
| 2 | Hyundai | 1,61,554 | 13.81% | +7.6% |
| 3 | Mahindra | 1,48,494 | 12.70% | +29.1% |
| 4 | Tata Motors (PV) | 1,37,534 | 11.76% | +0.0% |
| 5 | Toyota Kirloskar | 74,538 | 6.37% | +38.3% |
| 6 | Kia India | 70,162 | 6.00% | +12.3% |
| 7 | Skoda | 22,832 | 1.95% | −7.9% |
| 8 | MG Motor | 17,839 | 1.53% | +36.8% |
| 9 | Honda Cars | 17,778 | 1.52% | −32.4% |
| 10 | Tata Motors (EV) | 16,045 | 1.37% | +0.9% |
| 11 | Renault India | 9,877 | 0.84% | −10.6% |
| 12 | Nissan India | 6,803 | 0.58% | −2.1% |
| 13 | Mercedes-Benz | 4,820 | 0.41% | +17.8% |
| 14 | BMW India | 4,303 | 0.37% | +12.9% |
| 15 | Tata Motors | 2,000 | 0.17% | +17.0% |
Passenger Vehicle sales against the rest of the market
Set against the rest of the market, passenger vehicles lagged the national picture over Q3 FY 2024-25: +8.7% against +11.6% for every vehicle registered in India.
The table covers every segment Vahan reports over the same 3-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 October 2024 to December 2024.
| Segment | Q3 FY 2024-25 units | Share | vs Q3 FY 2023-24 |
|---|---|---|---|
| Two-Wheelers | 61,07,949 | 74.82% | +12.9% |
| Cars & UVs | 10,94,112 | 13.40% | +8.6% |
| Three-Wheelers | 3,36,803 | 4.13% | +4.4% |
| Tractors | 2,48,321 | 3.04% | +19.2% |
| Goods Carriers | 2,22,345 | 2.72% | −1.9% |
| Taxis & Cabs | 75,474 | 0.92% | +10.0% |
| Other classes | 55,367 | 0.68% | +2.5% |
| Buses | 23,218 | 0.28% | +22.5% |
What passenger vehicles run on
Vahan splits a segment by fuel only across a whole calendar year, so this table covers full-year 2024 rather than Q3 FY 2024-25 alone — it is exact for that window.
Petrol accounts for 52.7% of passenger vehicle registrations over full-year 2024, with battery-electric at 2.5%.
Passenger Vehicle registrations by fuel — full-year 2024
The full-year 2024 mix.
| Fuel | 2024 units | Share | vs full-year 2023 |
|---|---|---|---|
| Petrol | 22,27,473 | 52.66% | −4.94pp |
| Diesel | 7,71,265 | 18.23% | +0.42pp |
| CNG / LPG | 7,69,566 | 18.19% | +4.06pp |
| Hybrid | 3,56,085 | 8.42% | +0.19pp |
| Electric | 1,05,143 | 2.49% | +0.27pp |
| Other | 364 | 0.01% | 0.00pp |
Every Q3 on record
Across the 2 completed windows in our Vahan record, passenger vehicle registrations went from 11,69,586 in Q3 FY 2024-25 to 14,13,933 in Q3 FY 2025-26, up 20.9% over the stretch.
Passenger Vehicle registrations by quarter
* window still in progress.
| Period | Months | Units | YoY |
|---|---|---|---|
| Q3 FY 2025-26 | 3 | 14,13,933 | +20.9% |
| Q3 FY 2024-25 | 3 | 11,69,586 | +8.7% |
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 Q3 FY 2024-25?
What counts as a passenger vehicle (PV)?
What period does Q3 FY 2024-25 cover?
Which manufacturer sold the most passenger vehicles in Q3 FY 2024-25?
Which was the strongest month for passenger vehicle sales in Q3 FY 2024-25?
What share of the Indian market were passenger vehicles in Q3 FY 2024-25?
Which quarter 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.
