CHENNAI: The Indian passenger vehicle (PV) industry delivered a resilient performance in May 2026, with four of the six leading automakers-which together account for nearly 94% of India’s PV volumes-posting double-digit year-on-year growth despite recent vehicle price increases driven by rising raw material costs linked to the West Asia crisis, and a fuel price hike implemented during the second half of the month.
The wholesale numbers of major manufacturers in May suggest that underlying consumer demand remains healthy and that the PV industry has, for now, largely weathered these challenges. Among the six leading players, Maruti Suzuki and Tata Motors reported robust year-on-year growth of 40% and 42%, respectively, while Mahindra and Kia posted increases of 11% and 24%.Partho Banerjee, senior executive officer at Maruti Suzuki, said the company continued its strong momentum in May, setting a new all-time monthly sales record after achieving a previous high in April. “We have continued to improve month after month. SUVs grew by 57% in May, while we achieved an all-time high in CNG vehicle sales, with close to 78,000 units,” he added.
