India’s passenger vehicle (PV) market began CY2026 on a strong footing, with January wholesales estimated at 456,272 units, up from 405,522 units a year ago, supported by post-GST tailwinds and continued SUV-led demand across manufacturers.
Maruti Suzuki retained a commanding lead, reporting monthly wholesales of 236,962 units, a 11.6% year-on-year increase. Domestic PV dispatches stood at 178,300 units, while exports surged 88% to 51,020 units, compared with 27,100 units in January last year. Demand remained firm, with bookings rising nearly 25% and pending orders of about 1.75 lakh units.
Supply, however, stayed tight, with plants operating near full capacity and effective dealer inventory at just three days. In the mid-SUV category, the Victoris crossed the 50,000-unit cumulative sales milestone, reinforcing Maruti Suzuki’s growing presence in higher segments.
Tata Moros’ performance
Tata Motors delivered strong sales performances with Domestic PV sales up 46.1% year-on-year to 70,222 units, sharply higher than the 50,046 units sold in December 2025.
Growth was driven by key nameplates, with the Nexon crossing 23,000 units in January and surpassing the one-million cumulative sales mark. The Punch sold over 19,000 units, taking cumulative volumes beyond 700,000 units.
Mahindra & Mahindra continued to benefit from robust SUV demand with domestic sales of 63,510 units, up 25% year-on-year. On a year-to-date basis for FY26, the company posted 19% growth, with cumulative SUV sales of 539,986 units, underlining sustained momentum across its utility vehicle portfolio.
Hyundai Motor India recorded domestic volumes rising 9.5% to 59,107 units. Total sales, including exports, increased 11.5% to 73,137 units, marking the company’s highest-ever monthly tally.
Exports
Exports grew 20.9% to 14,030 units. The recently launhed Venue compact SUV and Aura sedan posted record monthly sales of 12,413 units and 7,978 units, respectively.
Among other OEMs, Toyota Kirloskar Motor reported domestic sales of 30,630 units, up 17% year-on-year, taking total sales to 33,880 units including exports. Kia India sold 27,603 units, a 10.3% increase, driven by strong demand for the Sonet, Carens Clavis and the latest Seltos.
At the lower end of the volume spectrum, JSW MG Motor India posted 4,843 units, up 9%, while Renault India clocked 3,715 units, a 33.6% year-on-year rise, led by the Kiger and Triber.
| OEM | Domestic Sales | Exports | Total Sales | YoY Growth |
| Maruti Suzuki | 178,300 | 51,020 | 236,962 | 11.60% |
| Tata Motors | 70,222 | — | 70,222 | 46.10% |
| Mahindra | 63,510 | — | 63,510 | 25% |
| Hyundai | 59,107 | 14,030 | 73,137 | 11.50% |
| Toyota Kirloskar | 30,630 | 3,250 | 33,880 | 15% |
| Kia India | — | — | 27,603 | 10.30% |
| JSW MG Motor | 4,843 | — | 4,843 | 9% |
| Renault India | 3,715 | — | 3,715 | 33.60% |