India's passenger vehicle dispatches hit record 4.5L units in January
What's the story
India's automotive industry has started the new year on a high note, with passenger vehicle (PV) dispatches witnessing a whopping 12.6% year-on-year (YoY) growth. According to data released by the Society of Indian Automobile Manufacturers (SIAM), domestic PV dispatches reached the highest-ever January figure of 4,49,616 units in January 2026. This is a significant jump from the 3,99,386 units recorded in January last year.
Increased sales
2-wheelers, 3-wheelers also posted impressive numbers
The growth trend in India's auto sector isn't limited to passenger vehicles. Two-wheelers and three-wheelers have also posted impressive numbers for January 2026. Total two-wheeler dispatches increased by an impressive 26.2% YoY, reaching the highest-ever January figure of 19,25,603 units as compared to last year's 15,26,218 units. Three-wheeler wholesales also saw a strong growth of 30.2% YoY with total dispatches hitting 75,725 units against last year's corresponding figure of 58,167 units.
Industry insights
Rajesh Menon comments on positive trend
Rajesh Menon, Director General of SIAM, commented on the positive trend in India's auto sector. "The new year has begun on a positive note, extending the strong momentum seen in the previous quarter," he said. He attributed this growth to sustained demand following GST rate reduction and initiatives announced in Union Budget 2026 aimed at strengthening India's manufacturing base.
Export growth
Total vehicle dispatches grew by 23.5% YoY
The overall dispatches of vehicles across categories grew by 23.5% YoY to 24,50,944 units in January 2026, compared to last year's corresponding figure of 19,83,771 units. In terms of exports too, all three categories, PVs, two-wheelers and three-wheelers, reported double-digit growth on a YoY basis. Total PV exports grew by a whopping 33.4% YoY to reach an impressive figure of 76,822 units in January this year as against last year's corresponding figure of 57,585 units.