Car sales rise in November on GST 2.0 boost, steady demand

Updated on 01 Dec 2025 | Category: Business

The November PV volumes crossed 4,20,000 units, driven by GST 2.0 benefits and stable demand.

The passenger vehicle (PV) segment maintained its strong momentum in November, with domestic wholesales surpassing 4,20,000 units. The performance was driven by the Goods and Services Tax (GST) rate rationalisation and steady consumer demand, as several manufacturers reported healthy volumes.
According to industry estimates, the PV wholesales stood between 4,20,000 units and 4,25,000 units in November, compared with 3,52,000 units in the same month last year, indicating a growth of up to 20.74% year-on-year (y-o-y).
Following the GST restructuring, cars across segments became relatively affordable, supporting sustained demand. The PV volumes rose 4.4% y-o-y to 3,72,458 units in September and 17.2% y-o-y to 4,60,739 units in October, official data from the industry body Society of Indian Automobile Manufacturers (SIAM) showed. Strong festive buying, from Navaratri through Diwali, also contributed to the higher domestic wholesales.
The country's largest carmaker, Maruti Suzuki India, clocked a growth of 20.99% y-o-y to 1,70,971 units in November. This was the company's highest-ever November PV wholesales in the domestic market.
During Maruti Suzuki's monthly sales briefing, Senior Executive Officer for Marketing and Sales, Partho Banerjee, said, "The market is still very bullish. Our network stock is at 19 days. Almost 80,000 vehicles are in our network stock, and around 40,000 vehicles are in transit."
"We are growing at a rate of almost 21% y-o-y in bookings with pending bookings of close to 1,50,000 at present," he said, adding that in the entry-level cars (Alto K10, S-Presso, WagonR and Celerio), the company's bookings grew by 40% y-o-y in November.
Talking about Maruti Suzuki's retail sales in November, Banerjee said that there was a growth of 31% y-o-y. "At present, eight models do not have a single unit in our factory. All the vehicles have been dispatched to our dealers. There is strong demand, and we are witnessing very good traction," he noted.
The retail growth for the company's entry-level cars was 37% y-o-y in November. "In the 18% GST models, the growth was around 38% y-o-y, while it was 17% in the 40% GST models. Overall, the retail growth was 31% y-o-y," Banerjee said.
Tata Motors' domestic PV volumes jumped 22.04% y-o-y to 57,436 units in November with the Nexon compact SUV and the Punch micro SUV again being the driving force. Both featured among the five largest-selling cars in India during the month. With the Sierra mid-size SUV entering the market, industry experts expect even better performance going forward.
Mahindra & Mahindra continued its handsome run in the domestic market as the PV wholesales climbed 21.88% y-o-y to 56,336 units during the month under consideration.
"In November, we achieved SUV sales of 56,336 units, a growth of nearly 22%. We also celebrated the one-year anniversary of our electric origin SUVs and launched India's first authentic electric origin 7-seater SUV, the XEV 9S, along with the world's first Formula E-themed special edition SUV, the Mahindra BE 6 Formula E Edition," said Nalinikanth Gollagunta, CEO, Automotive Division, Mahindra.
Hyundai Motor India's PV volumes increased 4.34% y-o-y to 50,340 units in November. While the carmaker did not share the sales figures of the new Venue compact SUV, it said the vehicle has crossed 32,000 bookings within a month of its launch.
"Supported by GST 2.0 reforms, we continue to carry forward sales momentum with a y-o-y growth in our monthly domestic sales in November," said Tarun Garg, Whole-Time Director and Chief Operating Officer, Hyundai.
Buoyed by the recent introduction of the Urban Cruiser Hyryder Aero edition (mid-size SUV) and the Fortuner Leader edition (premium SUV), Toyota Kirloskar Motor's domestic wholesales rose 19.46% y-o-y to 30,085 units in November.
"Following a positive festive season supported by the government's progressive GST reforms, we continue to witness a strong momentum, with a growth of 28%. The recent introduction of the Urban Cruiser Hyryder Aero edition and the Fortuner Leader edition has also continued to help us reinforce this growth trajectory, receiving recognition across the country," said Varinder Wadhwa, Vice President, Sales-Service-Used Car Business, Toyota.
Domestic PV wholesales - November 2025 vs November 2024
Source - Companies