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India Passenger-Vehicle Wholesales Hit 45.5 Lakh in 2025 After H2 Rebound

GST 2.0 tax cuts plus easier financing lifted H2 demand, pointing to 6–7% growth in 2026.

Overview

  • Industry wholesales rose about 6% year-on-year to a record 45.5 lakh units in 2025, with SUVs expanding to 55.8% of the market.
  • Maruti Suzuki reported December sales of 2,17,854 units and its highest-ever calendar-year total of 23.51 lakh, including a record 3.95 lakh exports, with dealer inventory near three days.
  • Mahindra said it sold 86,090 vehicles in December, including 50,946 domestic SUVs, and logged its best-ever annual volumes in SUVs and light commercial vehicles.
  • Tata Motors Passenger Vehicles delivered 5,87,218 units in 2025, including a record 81,125 EVs, marking a fifth consecutive year of best-ever annual sales.
  • Hyundai’s Creta crossed 2,00,000 units for the year as Kia’s wholesales rose 15% to 2,80,286 with its best-ever December, and industry estimates place Mahindra and Tata ahead of Hyundai in 2025 volumes.