Data released by the Society of Indian Automobile Manufacturers (SIAM) show a modest uptick in Year-over-Year (YoY) exports in the passenger vehicle (PV) segment despite a slight slump in domestic sales volumes. 

The category representing passenger vehicles, utility vehicles and vans cumulatively recorded 61,929 units being exported in July 2024 compared to 59,594 units in July 2023. Domestic sales volume, however, stood at 2,96,785 units in 2024 compared to 3,02,727 units a year earlier. 

Nonetheless, the production volumes within the PV segment witnessed a YoY uptick with 3,97,854 units manufactured in July 2024 compared to 3,93,094 units a year ago.

Maruti Suzuki India clinched top place for exports in utility vehicles and van while Hyundai Motor India was the frontrunner in the passenger car segment in July 2024. 

Hyundai Motor India exported 12, 297 units (passenger cars) while Maruti Suzuki India shipped off 13,694 units (utility vehicles) and 651 units (vans), respectively. The latter also cliched the second place in passenger car exports with 9,551 units. 

This trend saw a flip in domestic sales with Maruti Suzuki clinching top spot. It sold 69,245 units (passenger car) during July 2024 compared to 16,037 units of Hyundai Motor India. In the utility vehicle and van category Maruti Suzuki sold 56,302 and 11,916 units compared to 16,037 units of Hyundai Motor India. 

India’s three-wheeler market showcased mixed growth in July 2024, as highlighted by SIAM’s latest report. Overall production rose to 90,505 units, marking a 6.1 percent increase compared to July 2023. Bajaj Auto Ltd. led the segment, with production growing by 18 percent to 56,085 units, driven by robust domestic sales of 37,852 units and steady exports.

Mahindra & Mahindra Ltd. saw a notable shift in its passenger carrier segment, with a production decline to 1,384 units in July 2024 from 3,275 units a year earlier. However, the company’s e-rickshaw segment gained momentum, producing 1,606 units, a 19 percent dip from 2023, but still showing resilience.

In goods carriers, production across manufacturers slightly dipped to 8,721 units, down from 9,654 in July 2023, despite Bajaj Auto’s growth in this subsegment. 

The two-wheeler industry displayed robust growth in July 2024. The sector’s production soared by 21 percent YoY, reaching 19,48,223 units, compared to 16,08,414 units in July 2023. This growth was led by the scooter segment, which surged 41.2 percent to 6,54,748 units. Honda Motorcycle & Scooter India and TVS Motor Company were the primary drivers, reflecting strong demand across urban and semi-urban markets.

The motorcycle segment also recorded healthy growth, with production increasing by 12.8 percent to 12,49,903 units. Bajaj Auto Ltd and Hero MotoCorp Ltd maintained their leadership positions, contributing significantly to this expansion. TVS Motor Company Ltd further solidified its presence, with gains across scooters, motorcycles, and mopeds. Notably, mopeds saw a 19 percent rise in production to 43,572 units, highlighting their continued relevance in certain markets.

Domestic sales remained strong, with the two-wheeler market clocking 14,41,694 units, up from 12,82,054 units in July 2023. Scooters and motorcycles were the top performers, with domestic sales of 5,53,642 units and 8,50,489 units, respectively. 

On the export front, the sector experienced a 7.8 percent rise, reaching 3,24,908 units. Yamaha Motor India and TVS Motor Company led this growth, showcasing the increasing global appeal of Indian two-wheelers.

Overall, the two-wheeler industry continues to thrive, driven by strong domestic demand and a solid export performance, reinforcing its critical role in India’s automotive landscape.

Commenting on July-2024 performance, SIAM Director General Rajesh Menon said, “In July 2024, passenger vehicle segment de-grew by (-)2.5 percent compared to July 2023, posting a sales of about 3.42 lakh units. Three-wheelers posted a growth of 5.1 percent compared to July last year, with sales of 0.59 Lakh units in July 2024, which is close to the peak of 2018-19. Two-wheeler segment also posted a decent growth of 12.5 percent in July 2024 as compared to July 2023, with sales of 14.42 Lakh units”.

Commenting on sales data of July 2024, SIAM President Vinod Aggarwal said, “Though three-wheeler and two-wheeler segments are performing well, there has been some de-growth of passenger vehicles and commercial vehicles in July 2024, compared to July 2023. The above average rainfall coupled with upcoming festive season is likely to again propel growth in the short term. In addition, enabling budget announcements which emphasises on overall economic growth with fiscal support for infrastructure and rural sector should augur well for the automobile sector in the medium term.”

Photo: Prateek Karandikar (Wikimedia Commons)

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Hyundai Motor India (HMIL) has released its unaudited financial results for Q3 FY2026 and nine months ending 31 December 2025.

The company reported a Profit After Tax (PAT) of INR 123.44 billion for Q3, representing a 6.3 percent increase YoY. Revenue for the quarter reached INR 1,797.35 billion, up 8 percent compared to the same period last year. EBITDA stood at INR 2,018.3 billion, a 7.6 percent rise, supported by festive demand and the implementation of GST 2.0.

The company stated that the domestic demand was supported by wholesale volumes increasing 5 percent QoQ. The Hyundai Creta recorded sales of over 200,000 units in the 2025 calendar year, while the new Venue model has received nearly 80,000 bookings to date.

Hyundai Motor India also entered the commercial mobility segment with the Prime HB and SD taxi models. Exports grew by 21 percent YoY in Q3 FY26, accounting for 25 percent of the total sales mix.

For the nine-month period, EBITDA reached INR 6,632.5 billion, a 3.3 percent increase. EBITDA margins expanded to 12.8 percent, up from 12.5 percent in the previous year, despite costs related to capacity stabilisation and commodity prices.

Tarun Garg, Managing Director & Chief Executive Officer, said, “The third quarter performance underscores our resilience and strong execution of 'Quality of Growth' strategy, marked by healthy growth in volumes, revenue and profitability. Notably on a year-to-date basis, EBITDA margins expanded to 12.8 percent as against 12.5 percent last year, supported by our efforts towards improving sales mix and prudent cost control measures. As we move ahead, the robust January’26 sales number gives us great momentum towards a healthy 2026.”

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Stellantis-owned Jeep has announced its Strategic Plan Jeep 2.0, positioning India as a central hub for its operations in the Asia Pacific region. The plan focuses on localisation, manufacturing depth, and export expansion from the company's facility in Ranjangaon, Pune.

As part of the strategy, Jeep intends to increase localisation levels to 90 percent, up from the current 65–70 percent. This move is aimed at strengthening supply-chain resilience and cost competitiveness. The Ranjangaon plant, which has an annual capacity of 160,000 vehicles, currently exports the Compass, Meridian, and Commander to markets including Japan, Australia and New Zealand. Plans are underway to expand exports to Africa and North America.

The company plans to introduce a new vehicle lineup in India starting from 2027. In the interim, Jeep will maintain its current portfolio through refreshes and special editions. To support its customers, the brand has introduced the Confidence 7 programme, which includes a buyback scheme, pre-maintenance packages, and extended warranties.

At present, Jeep operates over 85 sales and service touchpoints across 70 cities in India. The automaker stated that in 2025, the Wrangler Willys 41 limited edition sold out within seven days. The company is also focusing on its owner community, which has reached 100,000 members, through experiential platforms and brand clubs.

Shailesh Hazela, CEO & Managing Director, Stellantis India, said, “Jeep’s 85-year legacy is built on authenticity and adventure. Strategic Plan Jeep 2.0 lays out how we will sharpen our product strategy and strengthen the customer experience year after year, driven by deeper localisation, global product alignment, expanding our vehicle offerings, and programs that deliver real value. We are equally focused on taking care of our existing customers, ensuring they receive the support, service and confidence they expect from Jeep. Success in India demands resilience and long-term commitment and we are investing with that clarity to ensure Jeep remains a brand of pride and desirability.”

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Maruti Suzuki India, the country’s largest passenger vehicle manufacturer, has reported its financial results for Q3 FY2026.

The company reported revenue of INR 475.344 billion, as against INR 368.02 billion last year, net profit came at INR 37.94 billion, as against INR 36.59 billion last year. It is to be noted that the net profit was impacted for Q3 FY2026 was impacted due to a one-time provision of INR 5,939 million relating to new Labour Codes.

During the period, the company achieved its highest quarterly domestic sales of 564,669 units, an increase of 97,676 units over the previous year. Total sales reached 667,769 units, which included 103,100 units in exports. This performance was supported by a recovery in the car market following GST reform, with the small car segment in the 18 percent GST bracket contributing significantly to the volume increase.

For the nine-month period from April to December 2025, the company recorded its highest sales volume, net sales and net profit. Total sales volume reached 1,746,504 units, with domestic sales at 1,435,945 units and exports at 310,559 units. Net sales for this period increased to INR 1,242 billion, while net profit grew to INR 1,085 billion.

Financial statements for the period have been restated following the amalgamation of Suzuki Motor Gujarat (SMG) with MSIL. This process took effect from 1 April 2025. The company continues to monitor market conditions as it manages its manufacturing and sales operations.

The recovery in the car market was led by the small car segment. Sales growth in this category accounted for 68,328 units of the total domestic increase. The company remains focused on domestic and export markets to maintain its sales volumes.

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Volkswagen Passenger Cars India has showcased the Tayron R-Line, marking the first of five product interventions scheduled for 2026.

The company plans to introduce updates or new models in every quarter to maintain market presence. These interventions will include SUV, Sedan and Hatchback body styles, with each model intended for different segments of the premium market.

For 2026, the company stated it has established objectives focused on products, customer engagement and experiences. The strategy involves using product actions to address various customer sets throughout the year. The brand aims to sustain interest through these quarterly releases across its vehicle portfolio.

The roadmap for the year is designed to cover multiple segments, ensuring a consistent rollout of updates. By addressing three body styles, the manufacturer intends to reach a broad audience within the premium category. The initiative forms part of a wider plan to enhance the ownership experience and interaction with the brand in India.

Nitin Kohli, Brand Director, Volkswagen Passenger Cars India, said, “Today, we are glad to showcase the Tayron R-Line for the first time in India. I am also delighted to announce that we have planned four more product interventions throughout the year. This year, every quarter will witness a new product intervention that will cater to a different premium customer set. Our objective is to continue building excitement for customers through smart product actions and introducing models that will continue to build aspirations.”

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