In March 2026, domestic passenger vehicle wholesales in India reached 450,000 units, marking a 16.3% year-on-year increase, largely due to demand following GST rate cuts implemented in September. The total wholesales for the fiscal year 2026 (FY26) climbed to 4.7 million units, an 8.3% increase from 4.34 million units in FY25, driven by a strong recovery in the latter half of the year. Market leader Maruti Suzuki India Ltd (MSIL) reported wholesales of 166,219 units, reflecting a 10.3% increase, while Tata Motors Passenger Vehicles (TMPV) saw a remarkable 28.2% growth, selling 66,192 units. Mahindra & Mahindra also maintained momentum with 60,272 units sold, up 25.4% year-on-year. Despite rising commodity prices and challenges posed by the ongoing West Asia conflict, the industry remains optimistic about future growth, with projections of a 5% increase in FY27, though this could be affected by the conflict's duration. The demand for electric vehicles is also gaining traction, with TMPV reporting over 200,000 units sold, reflecting a shift towards greener technologies.