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pent-up demand also boosted sales as the Prime Minister announced next-generation GST reforms in his Independence Day speech and this led customers to postpone purchases till September 22, when the GST cut came into effect.
Industry experts believe that these strong industry growth figures are unlikely to continue after the festive season. However, the GST cut will continue to drive demand for passenger vehicles, including small cars, a segment that was shrinking over the past few years.
Record sales at Motown in October
Top 5 OEMs in PV Retailing
Maruti Suzuki – 2,42,096 units
Tata Motors – 74,991 units
M&M’s – 67,252 units
Hyundai – 65,067 units
Toyota – 34,408 units
Source: FADA Research
Tata Motors remained at the second position among the top 5 car manufacturers for the second consecutive month. For Tata Motors, the company’s SUV line up drove sales of over 47,000 units shipped to dealers. This helped the company register 77% year-on-year growth in SUV sales. EV sales also increased by more than 73% year-on-year to 9,286 units.
Going forward, the auto industry is counting on new car launches to continue the sales momentum. Maruti’s e-Vitara, Tata Motors’ Sierra and Mahindra’s XEV 9S are some of the new cars hitting showrooms in the coming weeks.
“At Hyundai Motor India, we saw strong market demand and high consumer enthusiasm, leading to the combined second highest monthly sales of our formidable SUV duo – Hyundai Creta and Venue, with 30,119 units sold. We expect this momentum to accelerate with the upcoming launch of the all-new Hyundai Venue, which is already open for bookings”, said Tarun Garg, MD & CEO, Hyundai Motor India.
In the two-wheeler segment, Hero MotoCorp recorded strong retail sales to retain the top position by selling around 10 lakh motorcycles and scooters to customers. Honda Motorcycle & Scooter India stood second with retail sales of 8.2 lakh units.
Record sales at Motown in October
Top 5 two-wheeler OEMs in retail sales
Hero MotoCorp – 9.94 lakh units
Honda Motorcycle & Scooter India – 8.2 lakh units
TVS – 5.57 lakh units
Bajaj – 3.23 lakh units
Royal Enfield – 1.43 lakh units
Source: FADA Research
Royal Enfield recorded its highest ever festive performance, with over 2.49 lakh motorcycles sold during the festive months of September and October, up 26% compared to the same period last year. “In October alone, the company recorded monthly wholesale sales of 1,24,951 motorcycles, registering a growth of 13% compared to the same period last year,” the company said.
TVS Motor Company reported a growth of 10% with wholesale dispatches increasing from 478,159 units in October 2024 to 525,150 units in October 2025. Domestic two-wheeler sales are projected to grow from 390,489 units in October 2024 to 421,631 units in October 2025, registering a growth of 8%.
Top 5 EV Two Wheeler OEM
Bajaj Auto – 31,168 units
TVS – 29,484 units
Ather – 28,061 units
Ola – 16,034 units
Hero MotoCorp – 15,934 units
Source: FADA Research
However, in EV sales, Bajaj Auto took the top spot with deliveries of 31,168 units to customers in October. TVS stood second with sales of 29,484 scooters, followed by Ather Energy which sold over 28,000 scooters.
Despite the festive momentum, Ola Electric dropped to fourth position with 16,000 units delivered to customers. This is the second consecutive month when Ola’s market share has fallen to fourth place. The company is facing customer complaints on service related issues. Ola’s market share was 50% in May 2024, but by October 2025 its market share has come down to 11%.