India’s PV industry posted steady May wholesales, with Maruti Suzuki retaining leadership and Tata Motors climbing ahead of Mahindra and Hyundai.India’s passenger vehicle industry witnessed steady wholesales domestic demand in May 2026, led by Maruti Suzuki, Hyundai India, Tata Motors, Mahindra and Mahindra even as most automakers reported healthy year-on-year growth despite a recent spate of fuel price hikes amid West Asia tensions.
During the month, the industry clocked approximately 4.4 lakh unit sales, with industry experts estimating a low single-digit month-on-month movement for the industry reflecting normal seasonal cooling.
Amongst the OEMs, Maruti Suzuki maintained its Numero Uno position, reporting total domestic sales of record 1,90,337 units in May 2026, up sharply from 1,35,962 units in the same period last year. Amid the fuel price hike, India’s largest automaker said its CNG vehicle bookings grew 40 per cent since mid-May, helping it to achieve its highest-ever monthly CNG sales with nearly 78,000 units. During the month, electric vehicle sales also got a shot in the arm for the carmaker , with e-Vitara SUV bookings doubling.
“We are seeing very good traction in the EVs.. But at the same time, we need to wait till August and September when other capacities get enhanced,” Partho Banerjee, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India said during the monthly media briefing.
Tata Motors held on to the second spot in both retail and wholesale sales for the second straight month, reporting sales of 59,090 units. The company improved its ranking from fourth place a year ago.
The Maharashtra- based automaker’s EV bookings surged 3.5X YoY, with Punch.ev and Nexon.ev driving the momentum in the sub-₹15 lakh EV segment.
Another Indian automaker, Mahindra and Mahindra reported a drop to third position from second in May 2025, with domestic sales of 58,021 units sold last month. Nalinikanth Gollagunta, CEO, Automotive Division, M&M said, “The sustained demand across our portfolio continues, constrained by supply chain challenges due to manpower shortages at select suppliers.”
Hyundai India has reported a good single-digit growth with 47,837 units sold in May 2026, as against 43,861 units in the same month last year. However, it slid to fourth position from third in the year ago-period.
Tarun Garg, MD & CEO, HMIL, said: “Hyundai Motor India has continued its strong momentum of the year into May as well, achieving total sales of 61,137 units with 4.1 per cent YoY growth. In the first two months (April and May) of FY27, HMIL witnessed domestic sales rise by 13 per cent to 99,739 units, compared to 88,235 units in the same period of FY26.”
Other OEMs maintain the momentum
The Indian subsidiary of Japanese automaker Toyota maintained its fifth position in May with a growth of 4 per cent YoY with 30,574 units sold in May 2026.
Sabari Manohar, Executive Vice-President, Sales-Service-Used Car Business, Toyota Kirloskar Motor, said, “Our sales performance in May 2026 reflects the positive market acceptance of Toyota’s offerings and overall ownership experience. This month marked a significant milestone as we crossed 3 lakh Strong Hybrid Electric vehicle (SHEV) sales in India, underscoring the growing acceptance of SHEV technology and cleaner mobility solutions.”
Another South Korean player, Kia, too reported a steady growth with 27,586 units as against 22,315 units in May last year, with Seltos and Sonet remaining key growth drivers, along with ‘encouraging responses’ from Carens Clavis, Clavis EV and the MY26 Syros.
Atul Sood, Senior Vice-President, Sales & Marketing, attributed the growth to recent initiatives such as the Battery-as-a-Service (BaaS) programme, which he said has played an important role in making electric mobility more accessible and practical for customers.
Renault India, which had been struggling in the country, reported consistent growth, depicting a positive turnaround for the company. It reported a double-digit growth with 4,114 units sold in May 2026, as against 2,502 units in the same month last year. As ETAuto earlier reported, Renault Duster continued to drive this positive growth.
| May 2025 | OEM | Rank | OEM | May 2026 |
| 135,962 | Maruti Suzuki | 1 | Maruti Suzuki | 190,337 |
| 52,431 | Mahindra & Mahindra | 2 | Tata Motors | 59,090 |
| 43,861 | Hyundai India | 3 | Mahindra & Mahindra | 58,021 |
| 41,557 | Tata Motors | 4 | Hyundai India | 47,837 |
| 29,280 | Toyota Kirloskar Motor | 5 | Toyota Kirloskar Motor | 30,574 |
Future outlook
Despite the strong performance, automakers and experts flagged caution about the upcoming months amid growing concerns over inflation, increasing fuel costs and global geopolitical uncertainties.
“The demand environment remains stable, supported by financing availability and steady mobility needs; however, near-term sentiment is being influenced by external pressures. Recent fuel price increases are likely to weigh on discretionary demand, particularly in price-sensitive segments, potentially impacting both purchase decisions and usage patterns,” Saket Mehra, Partner and Automotive Industry Leader, Grant Thornton Bharat, told ETAuto.
“At the same time, ongoing geopolitical uncertainties continue to create volatility in crude prices, logistics, and freight costs, resulting in intermittent supply chain disruptions and cost pressures across the value chain,” he added.
As the West Asia crisis looms large for the industry, upcoming alternative-fuel launches, such as Maruti Suzuki’s flex-fuel vehicle and Hero MotoCorp’s flex-fuel model slated for launch this week, reflect the industry’s evolving outlook on new fuel technologies.
