PV wholesales rise nearly 11% to over 4.2 lakh units in February 2026; SUVs and exports power growth

Domestic passenger vehicle (PV) wholesales rose nearly 11% year-on-year (YoY) in February 2026 to about 420,000–425,000 units, compared with 381,665 units in the year-ago month, industry data showed. The sales uptick was driven by sustained demand for sport utility vehicles (SUVs) and the continuing impact of GST rate cuts implemented in September last year.

Industry executives said the revised GST structure continues to aid demand, although the sustainability of the current growth trajectory will become clearer over the next few months.

Maruti Suzuki’s export surge supports volumes

Maruti Suzuki India Limited (MSIL) reported total dispatches (including OEM sales) of 174,840 units in February 2026, broadly flat compared with 174,379 units a year earlier. Total sales, including exports, rose 7.31% YoY to 213,995 units from 199,400 units.

Partho Banerjee, Senior Executive Officer, Marketing and Sales, stated that while domestic wholesale volumes touched an all-time February high of 1.6 lakh units, while retail sales rose around 12% to 1.51 lakh units.

"Our pending bookings increased about 20% to 1.9 lakh units, with network stock at roughly 12 days, including seven days in transit," he noted. He also claimed that a sharper focus on utility vehicles lifted UV sales 12%, while mid-SUV volumes have doubled post-GST to over 20,000 units per month, pushing market share up to 19% from 12.8%.

Exports jumped 56.48% to 39,155 units from 25,021 units last year, providing a key growth lever. Domestic PV sales stood at 161,000 units, while light commercial vehicle (LCV) sales were at 3,130 units.

"Exports remained a strong growth lever, with February shipments crossing 39,000 units, up 56.5% year-on-year. Cumulative exports have already crossed 4 lakh units in the first 11 months of the fiscal, marking a 33.7% increase and enabling the company to achieve its annual target ahead of schedule. In comparison, industry-wide exports grew around 7% during April–January," added Banerjee.

The country's largest carmaker has recently launched its maiden EV—the e Vitara—which will be sold at its Nexa chain of dealership outlets.

Strong double-digit gains

Tata Motors posted total sales of 63,331 units in February 2026, up 35% from 46,811 units a year earlier. Dispatches rose to 62,329 units from 46,435 units. Domestic sales grew 34% YoY, while exports increased to 1,002 units from 376 units last year.

Electric vehicle (EV) sales across domestic and international markets climbed 57% YoY to 8,385 units, compared with 5,343 units in February 2025.

Hyundai, Toyota, Kia, and Honda's record monthly performances

Hyundai Motor India Limited recorded total sales of 66,134 units in February 2026, a 12.6% YoY increase and its highest-ever February tally. Domestic sales rose 9.8% YoY to 52,407 units, while exports grew 24.8% to 13,727 units.

MD & CEO Tarun Garg said the company sustained its strong start to 2026, logging its best-ever February performance. He added that the focus remains on expanding access to connected technologies and enhancing the ownership experience as the company approaches three decades of operations in the country.

Toyota Kirloskar Motor reported total sales of 34,034 units in February 2026, up 20% from 28,414 units a year earlier. Domestic dispatches rose 16% to 30,737 units, while exports surged 65% to 3,297 units.

Sabari Manohar, Executive Vice President, Sales-Service-Used Car Business, said the performance reflects sustained customer trust and steady demand across the portfolio, with recent technology upgrades receiving an encouraging response.

Kia India posted its highest-ever February sales at 27,610 units, up 10.3% YoY from 25,026 units.

Atul Sood, Senior Vice President, Sales & Marketing, said the record performance underscores rising consumer confidence and the company’s strategy of aligning products with evolving preferences, including the shift towards electric mobility.

Honda Cars India Ltd recorded total sales of 7,212 units in February 2026, comprising domestic sales of 5,629 units and exports of 1,583 units. In the corresponding month last year, the company had registered 5,616 units in domestic sales and 4,707 units in exports.

Kunal Behl, Vice President, Marketing & Sales, said the company maintained sales momentum through February, driven by the strong popularity of the Honda Amaze, alongside steady volumes for the City and Elevate. He added that the company remains optimistic about market performance as it approaches the final month of the fiscal year.

With SUVs anchoring demand and exports accelerating across manufacturers, the industry heads into the closing stretch of FY26 on firm footing, industry representatives said.