-->
India’s passenger vehicle (PV) segment recorded its highest-ever annual sales volume in fiscal year 2024–25, driven largely by surging demand for utility vehicles (UVs) in both domestic and international markets.
Despite a high base in FY24, PV sales grew steadily in FY25, thanks to new model launches, attractive consumer offers, and a sustained market appetite for UVs.
Domestic Sales Reach New Peak
According to data released by the Society of Indian Automobile Manufacturers (SIAM), total domestic PV sales reached 4,301,848 units in FY25, marking a 1.97% year-on-year (YoY) increase from 4,218,750 units sold in FY24.
Also Read: Markets Open Flat Amid Weak Global Cues; IT And Auto Stocks Drag Early Trade
Although growth was modest due to the strong performance in the previous year, UVs continued to outperform, capturing a 65.02% share of total PV sales, up from 59.75% in FY24.
SIAM noted that new vehicle launches resonated with consumer preferences, while promotional discounts and incentives played a vital role in maintaining demand momentum.
Utility Vehicles Lead The Surge
Utility vehicles remained the primary growth engine for the PV segment in FY25.
The rising consumer preference for SUVs and crossovers reflects a broader trend toward versatile, feature-rich vehicles across Indian households.
“Utility vehicles are driving the demand, and the trend is showing no signs of slowing down,” SIAM said in a statement.
Export Market Shines With Double-Digit Growth
India also posted a record in PV exports, shipping 770,364 units in FY25. This marks a 14.62% increase from 672,105 units exported in FY24.
SIAM attributed the export boom to rising global demand for Indian-manufactured models, especially in Latin America and Africa. Additionally, some automakers began shipping to developed markets, expanding their global footprint.
“Growth in exports has been driven by demand for global models being manufactured in India,” SIAM stated.
Top Automakers By Domestic PV Sales In FY25
- Maruti Suzuki India – 1,760,767 units
- Hyundai Motor India – 598,666 units
- Tata Motors – 569,245 units
- Mahindra & Mahindra – 551,487 units
- Toyota Kirloskar Motor – 309,230 units
Top Automakers By PV Exports In FY25
- Maruti Suzuki India – 330,081 units
- Hyundai Motor India – 163,386 units
- Nissan Motor India – 71,334 units
- Honda Cars India – 60,229 units
- Volkswagen India – 49,543 units
Outlook: Continued Momentum With Eyes On UV Segment
As automakers ramp up production and introduce tech-savvy, fuel-efficient models, the Indian PV market appears well-positioned to sustain its growth trajectory in FY26.
With UVs continuing to dominate buyer interest and export channels expanding, the industry is likely to see further record-breaking performance, both at home and abroad.
To read more such news, download Bharat Express news apps
