THEBUSINESSBYTES BUREAU

NEW DELHI, AUGUST 2, 2026

India's passenger vehicle (PV) industry clocked its strongest-ever July performance, with wholesale volumes surging to nearly 4.7 lakh units, driven by tax relief measures, GST 2.0-linked benefits, robust SUV demand and accelerating electric vehicle adoption.

The industry, which had recorded around 3.5 lakh units in July last year, registered an estimated 33 per cent year-on-year growth, marking one of the sharpest monthly expansions in recent years.

Leading the rally, Maruti Suzuki India crossed the 2 lakh domestic sales milestone for the first time, posting its highest-ever monthly domestic performance. The country's largest carmaker dispatched 2,41,421 units in July, compared with 1,80,526 units in the corresponding month last year.

"Passenger vehicle sales should be around 4.65 lakh to 4.7 lakh units in July this year. Compared to nearly 3.5 lakh units in July last year, this translates into almost 33 per cent growth," said Partho Banerjee, Senior Executive Officer, Marketing and Sales, Maruti Suzuki India.

The buoyant consumer sentiment, aided by recent tax concessions and GST 2.0-related incentives, translated into broad-based gains across automakers, with SUVs continuing to dominate demand while electric vehicles and exports added further momentum.

Hyundai Motor India reported its highest-ever monthly sales since inception at 75,360 units, up 25.4 per cent year-on-year. Domestic sales climbed 23.3 per cent to a record 54,210 units for July, while exports jumped 31.4 per cent to 21,150 units, the company's best monthly export performance in more than 100 months.

Kia India also posted its best-ever July wholesale sales, with dispatches rising 27.4 per cent year-on-year to 28,200 units. The automaker's cumulative dispatches for the January-July period increased 16.8 per cent to 1,91,949 units.

Tata Motors Passenger Vehicles (TMPV) maintained its strong growth trajectory, reporting total domestic and international sales of 63,760 units in July, a sharp 59 per cent increase over the year-ago period. Domestic passenger vehicle sales rose 58 per cent to 62,611 units.

Nissan Motor India also delivered its best-ever monthly wholesale performance. Total dispatches rose to 9,339 units, with domestic wholesales soaring 218 per cent year-on-year to 4,518 units, while exports stood at 4,821 units.

Industry executives expect demand momentum to remain healthy in the coming months, supported by improving consumer confidence, festive season buying, continued preference for SUVs and rising acceptance of electric vehicles, positioning FY27 for another year of record passenger vehicle sales.