The Indian automotive industry concluded FY2025-26 with record-breaking results, with every vehicle category clocking its highest-ever annual sales, as per data released by the Society of Indian Automobile Manufacturers (SIAM).

For FY2026, a total of 28 million vehicles were sold across segments in the country, clocking a 10 percent YoY growth, as compared to 26 million vehicles a year ago. The robust performance was seen in passenger vehicles, commercial vehicles, two-wheelers and three-wheelers, all achieving peak volumes, marking a definitive recovery 7 years after the previous industry high.

The passenger vehicle segment recorded sales of 4.64 million units for the full year, representing a growth of 7.9 percent. This performance was bolstered by a strong second half, which saw a 16.7 percent increase compared to the same period in the previous year. Growth was supported by GST rate reductions, personal income tax relief and lower financing costs resulting from repo rate cuts by the RBI.

Notably, electric passenger vehicle registrations rose by more than 80 percent. Exports in this segment reached 905,000 units, a 17.5 percent increase, with demand remaining steady in the Middle East, Africa and Latin America.

Commercial vehicles also reached a milestone with 1.08 million units sold, growing by 12.6 percent. The rollout of GST 2.0 reforms and increased capital expenditure provided the impetus for fleet operators to purchase new vehicles. In Q4 alone, the segment grew by 18.9 percent to 325,000 units.

Two and Three-Wheeler Momentum

The two-wheeler segment surpassed its previous peak from FY 2018-19, clocking 20.17 million units in FY2026, marking a 10.7 percent annual growth, primarily led by urban demand. Exports for two-wheelers reached a record 5.18 million units.

On the other hand, three-wheelers posted a growth of 12.8 percent with 836,000 units sold, driven by increased economic activity and the expansion of electric autorickshaws. Exports in the three-wheeler segment grew by 50.1 percent, largely due to increased volumes to Sri Lanka and African nations.

Market Outlook and Challenges

While the industry remains optimistic for FY2026-27, several global uncertainties persist. Fluctuations in crude oil and commodity prices, disruptions in shipping routes, and exchange rate volatility linked to the West Asia conflict remain primary concerns for manufacturers.

Shailesh Chandra, President, SIAM, said, “Though FY2025-26 started modestly, the Indian Auto industry has closed the year on a high note with every vehicle category viz. passenger vehicles, commercial vehicles, three-wheelers and two-wheelers, together posting their highest ever sales in a Financial Year, after seven years. The strong contributors to this growth have been the positive sentiments created through GST 2.0 reforms and multiple Repo Rate cuts during the year. Looking ahead, domestic demand and macroeconomic fundamentals remain robust as we step into FY2026-27, which should aid steady growth for the industry. However, uncertainties arising from the West Asia conflict need to be closely monitored, as it may have impacts on production, commodity prices, fuel prices, freight rates and the overall economy.”

Rajesh Menon, Director General of SIAM, stated, “Each of the vehicle category, passenger vehicles, commercial vehicles, three wheelers and two wheelers posted their highest ever sales in the January to March Quarter with double digit growth compared to previous year’s quarter. In Q4 of 2025-26, passenger vehicles posted sales of 1.31 million units with a growth of 13.2 percent, commercial vehicles posted sales of 325,000 units with a growth of 18.9 percent, three-wheelers posted sales of 227,000 units with a growth of 26.7 percent and two-wheelers posted sales of 5.77 million units with a growth of 26.4 percent, compared to Q4 of 2024-25.”

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Chennai-headquartered two-wheeler and three-wheeler major TVS Motor Company is optimistic about delivering above-industry growth in the coming quarters, supported by robust structural demand drivers, replacement needs, improving affordability, and accelerating electric vehicle (EV) adoption.

In a post-earnings call, K N Radhakrishnan, Director and Chief Executive Officer, TVS Motor Company, said, “Structural demand drivers, replacement demand, affordability, and continued EV adoption. All these are going to be supportive and I’m pretty confident that TVS will do much better than the industry growth.”

The company continues to see strong momentum in its electric vehicle segment. Following the milestone of crossing one million iQube sales, EV penetration exceeded 10.6 percent in June.

TVS Motor Co’s manufacturing capacity for electric two-wheelers is being scaled from 40,000 units towards more than 50,000 units, while three-wheeler EV capacity is expanding to approximately 30,000 units.

Radhakrishnan sees demand for internal combustion engine (ICE) two-wheelers to remain solid in the domestic market, with the company’s scooter portfolio — including the Jupiter, Ntorq and Scooty ranges — registering robust retail offtake. This has been supported by targeted product upgrades and disciplined inventory management, with dealer stock levels maintained below 30 days.

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On the international front, TVS Motor achieved record Q1 sales of 4.68 million units, a 33 percent YoY increase. Growth was driven by a recovery in Africa, expansion in Latin America and strong demand for the HLX series. The company is targeting an increase in total two-wheeler capacity to 8.3 million units.

Despite commodity price volatility and supply chain challenges in April, TVS Motor delivered a healthy operating EBITDA margin of 12.8 percent through strategic price adjustments of approximately 1.5 percent in Q1, ongoing cost optimisation and benefits from scale.

With the festive season approaching in October and November, the company expects sustained momentum across both domestic and international markets, supported by new product introductions and an expanding global footprint.

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European auto major Stellantis has announced leadership changes for the Ram and Jeep brands. Matt VanDyke has been appointed CEO of the Ram brand, effective 20 July, succeeding Tim Kuniskis. Branden Cote has been named CEO of the Jeep brand, effective 3 August, succeeding Bob Broderdorf, who is taking medical leave and will assume a new role upon his return. Both executives will report to Tim Kuniskis, Head of American Brands, North America Marketing and Retail strategy, Stellantis North America.

VanDyke joins Ram following roles as President of Shift Digital, CEO of FordDirect and leadership positions at Ford Motor Company. Cote joins Jeep with industry experience across OEM and dealer retail operations, including roles with AutoNation, Aston Martin Lagonda, Canoo and Mercedes-Benz USA.

Tim Kuniskis, said, “Matt and Branden are proven leaders who will build on our successes and take these iconic American brands to the next level. Their skills and deep industry experience align with our simple – but very important – customer-centric objective: to provide people with the brands and products they love and trust. I also want to thank Bob Broderdorf for his exceptional leadership of Jeep. Bob is a dedicated and valued colleague, and a friend to many across the Company. I look forward to continuing our work together when he takes on his new role.”

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GMC has introduced the HUMMER EV ICON | 25, a limited-run edition marking 25 years of the HUMMER nameplate. The vehicle will be available in 2X and 3X trims for both Pickup and SUV models.

The limited edition features an exterior colour named ‘ICON,’ which draws inspiration from the yellow paint used on the HUMMER H2. The EV includes a black interior, a front approach shield, serialised badging and infotainment graphics. Each unit will come with a keepsake.

The HUMMER EV ICON | 25 made its debut at the 2026 ESPYS in New York City, where GMC served as a sponsor.

Michael MacPhee, Global Vice-President, Buick and GMC, said, “Twenty-five years ago, HUMMER first captured attention and established itself as an immediate icon. Today, HUMMER remains instantly recognisable as an all-electric supertruck that continues to turn heads. The GMC HUMMER EV | ICON 25 is our way of recognising that legacy and its debut at the 2026 ESPYs places it among athletes, celebrities and icons whose influence has also stood the test of time.”

For MY2027, the HUMMER EV lineup will feature the North American Charging Standard (NACS) inlet and provide vehicle-to-home bidirectional charging.

GMC is introducing five exterior colour options – ICON, Dark Ridge, Azurite Blue, Dark Ember, and Deep Void Matte – alongside two 22-inch wheel options.

The EV continues to offer features including 4-Wheel Steer with CrabWalk and King Crab, Air Ride Adaptive suspension and Extract Mode. Technology features include Super Cruise hands-free driver assistance, the Infinity Roof, and camera views.

The 3X Pickup model comes with 1,160 horsepower and 13,000 lb.-ft of torque and a claimed zero to 60 mph (96 kmph) time of 2.8 seconds when equipped with the 24-module battery.

Production of the 2027 GMC HUMMER EV and the ICON | 25 edition will commence later this year at the Factory ZERO Assembly Center in Detroit and Hamtramck, Michigan. It will be available in the U.S. and Canada, with pricing to be announced closer to the start of production.

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Defence Minister Rajnath Singh inaugurated the Shaurya Vijay Yatra 2026 at the National War Memorial in New Delhi, marking the commencement of nationwide observances for Kargil Vijay Diwas. The 13-day expedition, organised by Jawa Yezdi Motorcycles, features 28 riders traversing a 1,900-kilometre route to the Kargil War Memorial in Dras, Ladakh. The group comprises serving and retired defence personnel alongside their families, united under the rallying cry of ‘One Ride, One Nation, One Salute’ to honour the bravery and ultimate sacrifices of the 1999 Kargil War heroes.

The motorcycle contingent is scheduled to pass through significant military landmarks including Chandimandir, Rezang La and the Leh War Memorials before its scheduled arrival on 26 July. A central element of the journey involves transporting an urn filled with sacred soil from the National War Memorial to Kargil, symbolising the enduring valour of India's warriors across generations. The riders will also pay personal tributes to Veer Naris, acknowledging the resilience of the war widows.

Senior military leadership, including Chief of Defence Staff General N S Raja Subramani and Army Chief General Dhiraj Seth, joined the Defence Minister at the ceremonial start, alongside veterans and senior officials. The presence of the National Cadet Corps underscored the event's focus on inspiring youth to remember the nation's gallant soldiers and embrace the core principles of duty and selfless service.

During his address, the Defence Minister commemorated the soldiers whose courage upheld the nation's honour, framing the Kargil victory as a testament to India's steadfast sovereignty. He specifically recalled the contributions of Param Vir Chakra recipients Captain Vikram Batra, Lieutenant Manoj Kumar Pandey and Subedar Majors Yogendra Singh Yadav and Sanjay Kumar. Initiated in 2021, this tribute ride has evolved into a cherished tradition, with each kilometre travelled serving as a poignant reminder that the nation's freedom is preserved by those who place their country above all else.

Anupam Thareja, Co-Founder, Classic Legends, said, "Shaurya Vijay Yatra is our way of remembering the heroes of Kargil and their families. We started this tribute with the belief that remembering their sacrifices and being grateful is a shared responsibility. Through this journey, we remain committed to keeping their memories alive for future generations. Alongside the Indian Army, we are honoured to undertake this tribute and pay homage to our bravehearts."

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