PV sales jump 27% to record 4.39 lakh units in May; two-wheelers cross 19 lakh units, three-wheelers rise 31%: SIAM

India’s Passenger Vehicle (PV) sales surged 27.3% year-on-year (y-o-y) to a record 4.39 lakh units in May 2026, while two-wheeler volumes crossed the 19 lakh mark and three-wheeler sales jumped 31%, helping the domestic automobile industry post its strongest-ever performance for the month.

According to the data released by the Society of Indian Automobile Manufacturers (SIAM), domestic PV sales stood at 4,38,854 units during the month, compared with 3,44,656 units in May 2025. Two-wheeler sales rose 14.8% y-o-y to 19,02,209 units, while three-wheeler volumes climbed 31.1% to 70,720 units, reflecting broad-based demand across vehicle categories.

Commenting on the performance, SIAM Director General Rajesh Menon said passenger vehicles, two-wheelers and three-wheelers recorded their highest-ever May sales in 2026, with all three segments posting double-digit growth.

“Lower base effect of previous May and demand created due to reduced GST rates, with easier financing, is again getting reflected in higher off-take this month,” Menon said.

The strong wholesale performance mirrors trends in the retail market. Last week, the Federation of Automobile Dealers Associations (FADA) reported that PV retail sales crossed the 4 lakh mark for the first time in May, rising 23.25% year-on-year to 4,02,591 units. The dealers' body attributed the growth to robust rural demand, a revival in entry-level cars and sustained demand for sport utility vehicles (SUVs), despite heatwave conditions, higher fuel prices and geopolitical tensions in West Asia.

Scooters drive two-wheeler growth

The two-wheeler segment delivered its best-ever May performance, led by strong growth in scooters. Scooter sales surged 27.4% y-o-y to 7,39,667 units, while motorcycle sales increased 7.2% to 11,13,973 units. Moped sales rose 30.3% to 48,569 units during the month.

Passenger vehicles, meanwhile, continued to benefit from improving affordability and consumer sentiment, recording their highest-ever May sales volume.

Three-wheelers maintain momentum

The three-wheeler segment extended its growth streak with sales rising to 70,720 units from 53,942 units a year earlier. Passenger carriers remained the largest contributor, posting sales of 57,649 units, up 30% y-o-y, while goods carriers grew 35.3% to 11,802 units.

Within electric three-wheelers, e-rickshaw sales increased 38.9% to 1,000 units, while e-cart volumes jumped 81.8% to 269 units, albeit on a smaller base.

The robust sales performance came despite a rise in vehicle running costs during the month. Petrol and diesel prices increased by more than ₹7.5 per litre amid elevated crude oil prices linked to geopolitical tensions in West Asia, while CNG prices were raised by around ₹6 per kg through multiple revisions.

The sales momentum comes against the backdrop of GST rate cuts announced in September 2025 and improved financing availability, both of which have supported vehicle affordability and retail demand across urban and rural markets.

Reflecting the strong demand environment, total production of passenger vehicles, two-wheelers, three-wheelers and quadricycles stood at 29,27,711 units in May 2026.

SIAM noted that sales data for BMW, Mercedes-Benz, Jaguar Land Rover and Volvo Cars were unavailable for the reporting period, while Tata Motors’ domestic sales were included only in the overall passenger vehicle tally.