Passenger vehicle (PV) retail sales in India fell 14.23 percent year on year to 5,07,768 units in October 2026, compared with 5,92,032 units in the same month last year, according to data from the Federation of Automobile Dealers Associations (FADA). However, sales rose 18.86 percent over September's 4,27,213 units, making it the third-highest October on record.
FADA attributed the annual decline largely to the high base of October 2025, when both Navratri and Diwali fell in the same month, alongside demand following the GST 2.0 rate cuts. This year, Diwali falls in November. Despite the October decline, cumulative PV retails for FY2027 through October rose 16.41 percent to 30,68,353 units.
CNG, hybrid and EV share exceeds petrol in October
Petrol and ethanol-powered vehicles accounted for 41.60 percent of PV retail sales in October, down from 48.96 percent a year earlier. Meanwhile, the combined share of CNG/LPG, hybrid and electric vehicles reached 41.83 percent, marginally exceeding petrol and ethanol vehicles.
CNG/LPG vehicles accounted for 24.59 percent of retails, up from 23.20 percent in October 2025. Hybrid vehicles increased their share from 6.96 percent to 9.94 percent, while diesel vehicles declined from 17.34 percent to 16.57 percent.
Electric PVs accounted for 7.30 percent of total sales, compared with 3.55 percent a year ago, although their share was lower than September's 8.45 percent. This translates to approximately 37,000 electric passenger vehicles retailed in October, compared with around 21,000 units in October 2025. FADA said electric PV demand exceeded supply during the month.
Maruti Suzuki leads; Tata and Mahindra gain share
Maruti Suzuki retained the top spot with 2,11,996 retail units in October, accounting for 41.75 percent of the market. Its share was down from 42.15 percent in October 2025. Tata Motors ranked second with 73,449 units and a 14.47 percent share, up from 13.52 percent a year earlier. Mahindra followed with 64,982 units, increasing its share from 12.46 percent to 12.80 percent.
Hyundai retailed 58,099 units, taking an 11.44 percent share, compared with 11.73 percent in October 2025. Kia recorded 30,799 units, with its share increasing from 5.98 percent to 6.07 percent.
Toyota's retail sales stood at 28,727 units, with its market share falling from 6.48 percent to 5.66 percent. JSW MG Motor recorded 7,082 units, accounting for 1.39 percent of the market, while VinFast India retailed 2,571 units for a 0.51 percent share.
Urban and rural sales decline in October
Urban PV retail sales fell 15.30 percent year on year, while rural sales declined 12.44 percent. However, compared with September, urban sales rose 20.10 percent and rural sales increased 16.90 percent. Urban markets accounted for 61.7 percent of total PV retails in October, up from 61.1 percent in September. According to FADA, demand for utility vehicles remained relatively strong, while entry-level passenger cars witnessed weaker demand.
Ajit Dalvi
