New Delhi: India’s passenger vehicle (PV) industry has achieved significant growth through November 2025. Even after the completion of the festive season, there is a continuous increase in the demand for vehicles. Especially due to the reduction in GST rates and the beginning of the winter wedding season, there has been a strong annual growth in both sales and production. According to ICRA report, retail sales of vehicles in November have increased by 22 percent as compared to last year. However, compared to October’s record-breaking festive sales, November witnessed a decline of 29 percent. The supply (wholesale) made by companies to dealers has increased by 19 percent to 4.1 lakh units.

According to FADA data, due to increase in sales, the stock with dealers which was 60 days in September, has now come down to 44-46 days, which shows the health of the market. The share of utility vehicles (SUV/MPV) in total passenger vehicle sales in November was 67 percent. On the other hand, due to the reduction in GST, the mini and compact car segments have also seen an improvement in customer inquiries and purchases.

Not only cars, but also the two-wheeler and three-wheeler segments have shown excellent performance. Two-wheeler sales increased by 21.2 percent to 19.44 lakh units. There has been a skyrocketing increase of 29 percent in demand for scooters in urban areas. Three-passenger three-wheeler sales have registered a growth of 21.3 percent. The demand for Indian vehicles has increased not only in the country but also in foreign countries. Indian auto exports have also witnessed a surge due to strong demand from Middle East and Latin America countries.