04 - 05 - 2026

Indian auto sector accelerates in April on wholesale volumes

By Our Auto Correspondent
Mumbai, May 4, 2026

The Indian automotive sector maintained a healthy growth trajectory in April 2026, supported by sustained demand following Goods and Services Tax (GST) cuts and a low base from the previous year.

The Passenger Vehicle (PV) segment saw robust expansion, led by industry leader Maruti Suzuki India Limited (MSIL). Maruti’s overall volume reached about 2.4 lakh units, a 33% increase year-on-year, while domestic PV sales for the company grew 35 and exports surged by 44%, according to an ICICI Securities report.

Tata Motors’ passenger vehicle division also reported strong figures, with India volumes standing at 59,701 units, a 31% rise from April 2025. The company’s electric vehicle (e-PV) segment’s volumes rose 72% to 9,150 units. Hyundai Motor India reported more modest domestic growth of 17%, while its exports declined by 16% to 13,780 units.

Two-Wheelers Gain Momentum

The two-wheeler (2W) segment reported double-digit growth, aided by healthy domestic demand. Hero MotoCorp saw a dramatic 85% year-on-year increase in total volume to 5.66 lakh units, though analysts noted that April 2025 volumes had been negatively impacted by a production halt.

Eicher Motors’ Royal Enfield brand expanded its volume by 31% to 1.13 lakh units, with domestic sales rising 37%. TVS Motor reported a 7% increase in total volume to about 4.74 lakh units. TVS’ sales of iQube electric scooter rose 36% to 37,771 units.

On the Commercial Vehicles (CV) front, Tata Motors’ CV division’s total volumes rose 28% to 34,833 units, driven by a 23% increase in Medium and Heavy Commercial Vehicles (MHCV) and strong performance in the Small Commercial Vehicle (SCV) cargo and pickup segment, which grew 40%.

Mahindra & Mahindra’s (M&M) tractor volumes rose 21% to 48,411 units, while Escorts Kubota followed suit with 24% growth at 10,857 units.

According to ICICI Securities, that upcoming price hikes and the potential for reduced discounts will be key factors to monitor in the coming months.