India's passenger vehicle market projected at 53-54L by FY27
India's passenger vehicle market is on track to hit 53-54 lakh units by FY27, thanks to strong demand and more affordable cars.
Partho Banerjee, Senior Executive Officer, Marketing and Sales, Maruti Suzuki India, shared at the SIAM convention that monthly sales are already around 4.5 lakh units, a sign that more people are getting behind the wheel.
India FY26 passenger sales reached 46.43L
Car sales grew nearly 8% in FY26, reaching 46.43 lakh units.
Maruti Suzuki expects even bigger gains (up to 16%) in FY27 as GST changes, income tax reliefs, and lower interest rates make buying a car easier for buyers.
Festive seasons have given sales an extra push too, and Maruti Suzuki recorded an all-time-high market share of 60% in Kerala during Onam, while the share of first-time buyers in the state had reached 54%.
dealer inventories are tight, with just 16 days' stock instead of the usual month-long supply.