The domestic automobile industry posted its strongest-ever November performance, with passenger vehicle (PV), two-wheeler and three-wheeler wholesale dispatches recording robust double-digit growth on the back of festive demand and the government’s GST 2.0 reforms, according to the Society of Indian Automobile Manufacturers (SIAM).
Domestic passenger vehicle dispatches from manufacturers to dealerships rose 19% year-on-year (YoY) to 4,12,405 units in November, against 3,47,522 units in the same month last year.
In October also the PV segment recorded strong growth, with wholesales rising 17% year-on-year to 460,739 units, up from 393,238 units a year earlier.
Segment-Wise Breakdown
Two-wheeler dispatches expanded by over 21 % YoY to 1.94 million units, compared with 1.60 million units in November 2024. Within the segment, motorcycle sales grew around 18% to 1.16 million units, while scooter dispatches surged over 29% to 7,35,753 units, up from 5,68,580 units a year earlier.
Three-wheeler wholesales also posted healthy growth, rising around 21% YoY to 71,999 units, compared with 59,350 units in November last year.
Festive Demand and GST Reforms
Overall industry dispatches across segments increased around 21% to 2.42 million units, up from 2.01 million units a year ago.
“Following the festive demand and support from the government’s progressive GST 2.0 reforms, the Indian auto industry continued with the sales momentum in November 2025. Passenger Vehicles, Two-Wheelers and Three-Wheelers marked the highest-ever sales of November in 2025,” Rajesh Menon, Director General, SIAM said.
“Industry is optimistic that the continued supportive policy reforms and improved market sentiments, would continue this growth trajectory well into 2026,” Menon added.
Industry analysts noted that the growth in November was also aided by improved supply-chain stability and higher production planning by manufacturers ahead of the year-end wedding season, which traditionally boosts two-wheeler and entry-level car sales.
The recent surge in the automobile sector has been largely driven by the government’s GST cuts in September, which helped improve affordability and revive buyer sentiment across categories. This policy boost, combined with strong festive demand and the onset of the wedding season, gave manufacturers the momentum they needed to push higher dispatches. However, analysts caution that the pace of growth may moderate in the early months of the new year as the post-festive demand cools and inventory levels stabilise, even though the broader outlook for 2026 remains positive.
Exports also posted a sharp increase of 34.8%, with total shipments reaching 6,02,355 units during the period, compared with 4,46,869 units previously.