Indian passenger vehicle industry starts FY27 with blockbuster April performance. Top 5 carmakers

The Indian passenger vehicle industry has registered a blockbuster performance in April 2026 to start FY27, belying expectations of sluggish growth due to the geopolitical tensions and their impacts on the sector. New launches, model upgrades and discounts on offer have played a crucial role in fuelling the robust growth in the sector. Besides that, GST 2.0 and the reduced repo rate have been fuelling the growth.

In the top five positions in the Indian passenger vehicle market, two automakers have changed their positions. While Maruti Suzuki continues to hold the crown, Tata Motors has snatched away the second position from Hyundai. The homegrown automaker has recorded a massive jump, by leaping to second position from fourth spot in the chart. On the other hand, Hyundai, the erstwhile second position holder, has slipped to the fourth position. Among others, Mahindra continues to hold the third position, while Toyota also sticks to the fifth position in April 2026.

April 2025 vs April 2026: Top 5 carmakers in India
April 2025 (Units)	OEM	Rank	OEM	April 2026 (Units)
138,704	Maruti Suzuki	1	Maruti Suzuki	187,704
58,701	Hyundai	2	Tata Motors	59,000
52,330	Mahindra	3	Mahindra	56,331
45,199	Tata Motors	4	Hyundai	51,902
27,329	Toyota	5	Toyota	32,086

Maruti Suzuki maintained its crown position in April 2026, rising 35% YoY to 187,704 units from 138,704 units registered in the same period a year ago. Thanks to the GST 2.0 regime and reduced repo rate, the small car segment of the automaker, a category in which Maruti Suzuki holds the lion's share in India and the category that has been traditionally driving volume in the country's PV sector for decades, registered a 41.7% YoY growth with 96,725 units sold.

For Tata Motors, the new launches and upgraded versions, including models like the Sierra, Punch EV have played a key role in boosting volume, which propelled the OEM to register 59,000 units to grab the second position. The carmaker posted significant growth last month, as it sold 45,199 units in the corresponding month a year ago.

Another homegrown auto giant, Mahindra, registered 56,331 units last month, up from 52,330 units sold in the same month a year ago. The automaker held to the third position, owing to the high demand for its SUVs like the Thar, Scorpio-N, etc.

Hyundai, the erstwhile second position holder, witnessed a significant drop in its sales last month, as it registered 51,902 units, down from 58,701 units sold in the same month a year ago. Toyota recorded 32,086 units in April 2026, up from 27,329 units sold in the same month a year ago, to hold the fifth position in the chart.

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