New Delhi:
If 2025 were a road trip, India’s auto retail journey would clearly come with two playlists—one mellow for the first half and one upbeat, foot-tapping number for the finale. The Federation of Automobile Dealers Associations (FADA) has released its CY’25 and December’25 Vehicle Retail Data, and the verdict is clear: the year ended with the industry firmly back in the fast lane.
CY’25: A Tale of Two Halves
Calendar Year 2025 closed with total auto retail of 2,81,61,228 units, marking a healthy +7.71% YoY growth. However, the journey wasn’t linear. The January–August period stayed muted, with buyers keeping a close eye on budgets and financiers being selective with approvals.
The mood changed decisively from September onwards, when GST 2.0 rate rationalisation improved affordability across mass segments—small cars, two-wheelers, three-wheelers and key commercial vehicle categories. The result? A clear demand upshift through September to December.
Category-Wise Performance (CY’25)
- Two-Wheelers: 2,02,95,650 units (+7.24%)
- Passenger Vehicles: 44,75,309 units (+9.70%)
- Commercial Vehicles: 10,09,654 units (+6.71%)
- Tractors: 9,96,633 units (+11.52%)
- Three-Wheelers: 13,09,953 units (+7.21%)
- Construction Equipment: 74,029 units (-6.67%)
Urban and rural markets both contributed meaningfully, but rural India quietly stole the show. Rural PV retail grew 12.31%, comfortably ahead of 8.08% in urban markets, signalling that personal mobility is no longer just a metro affair.
The Transition Story Gathers Pace
CY’25 further cemented India’s diversified mobility shift:
- 3W EV share: 60.91%
- 2W EV share: 6.31%
- PV CNG share: 21.30% | PV EV share: 3.95%
- CV CNG share: 11.81% | CV EV share: 1.55%
Electric and CNG powertrains are no longer “alternatives”—they are becoming mainstream choices, especially where running economics matter most.
Reflecting on the year, C. S. Vigneshwar, President, FADA, noted that CY’25 closed on a celebratory note, with stronger enquiry pipelines, improved confidence and a more optimistic consumer outlook as the industry steps into 2026.
December’25: Ending the Year on a High Note
December delivered a strong curtain call. Auto retail stood at 20,28,821 units, clocking an impressive +14.63% YoY growth.
- 2W: 13,16,891 (+9.50%)
- PV: 3,79,671 (+26.64%)
- CV: 83,666 (+24.60%)
- 3W: 1,27,772 (+36.10%)
- Tractors: 1,15,001 (+15.80%)
- CE: 5,820 (-18.54%)
Year-end offers, post-GST 2.0 sentiment and pre-buying ahead of January price hikes helped dealers convert enquiries quickly—proof that discounts and deadlines still work wonders.
Rural Drives December Too
Rural markets once again outperformed:
- Rural PV growth: +32.40% YoY
- Urban PV growth: +22.93% YoY
Dealers also used December to clean up MY’25 stock, bringing PV inventory down to ~37–39 days, nearly 7 days lower than the previous month.
The transition continued here as well, with 2W EV share rising to 7.40% and 3W EV share surging to 69.12% in December.
Looking Ahead: Jan’26 and Beyond
Dealer sentiment remains upbeat:
- 70.48% expect growth in January 2026, with momentum likely picking up post Makar Sankranti/Pongal and into the marriage season.
- Over the next three months (JFM’26), 74.91% of dealers expect growth, supported by festivals, FY-end buying, rural cash-flow improvement and sustained post-GST 2.0 confidence.
Watch-outs remain familiar—finance turnaround time, selective approvals and timely availability of in-demand models—but overall confidence remains firmly in the green zone.
Dealer Pulse: The Mood Board
- Liquidity: Good – 59.78%
- Sentiment: Good – 64.94%
- CY’26 Expectation: Growth – 77.86%
The Big Picture
India’s auto retail story in CY’25 proves one thing: patience paid off. What began cautiously ended confidently, with rural demand, diversified fuel choices and policy support steering the industry forward. As 2026 begins, the market isn’t just rolling—it’s warming up for a longer, smoother drive ahead.
All India Vehicle Retail Data for FY’26 YTD (Apr’25 to Dec’25)
| CATEGORY | YTD FY’26 | YTD FY’25 | Growth % |
| 2W | 1,58,85,850 | 1,44,79,579 | 9.71% |
| 3W | 10,09,416 | 9,20,338 | 9.68% |
| CV | 7,48,977 | 6,88,600 | 8.77% |
| CE | 50,336 | 56,924 | -11.57% |
| PV | 33,21,173 | 30,09,581 | 10.35% |
| TRAC | 7,63,630 | 6,49,852 | 17.51% |
| Total | 2,17,79,382 | 1,98,04,874 | 9.97% |
All India Vehicle Retail Data for CY’25
| CATEGORY | CY’25 | CY’24 | YoY % |
| 2W | 2,02,95,650 | 1,89,24,815 | 7.24% |
| 3W | 13,09,953 | 12,21,886 | 7.21% |
| E-RICKSHAW(P) | 4,76,936 | 4,81,747 | -1.00% |
| E-RICKSHAW WITH CART (G) | 83,403 | 58,932 | 41.52% |
| THREE-WHEELER (GOODS) | 1,32,919 | 1,25,016 | 6.32% |
| THREE-WHEELER (PASSENGER) | 6,15,216 | 5,55,236 | 10.80% |
| THREE-WHEELER (PERSONAL) | 1,479 | 955 | 54.87% |
| PV | 44,75,309 | 40,79,532 | 9.70% |
| TRAC | 9,96,633 | 8,93,706 | 11.52% |
| CE | 74,029 | 79,316 | -6.67% |
| CV | 10,09,654 | 9,46,190 | 6.71% |
| LCV | 6,11,306 | 5,62,224 | 8.73% |
| MCV | 82,423 | 68,886 | 19.65% |
| HCV | 3,15,170 | 3,13,902 | 0.40% |
| Others | 755 | 1,178 | -35.91% |
| Total | 2,81,61,228 | 2,61,45,445 | 7.71% |
All India Vehicle Retail Data for Dec’25
| CATEGORY | Dec’25 | Nov’25 | Dec’24 | MoM% | YoY% |
| 2W | 13,16,891 | 25,46,184 | 12,02,600 | -48.28% | 9.50% |
| 3W | 1,27,772 | 1,33,951 | 93,879 | -4.61% | 36.10% |
| E-RICKSHAW(P) | 57,478 | 48,839 | 40,834 | 17.69% | 40.76% |
| E-RICKSHAW WITH CART (G) | 7,607 | 8,160 | 5,824 | -6.78% | 30.61% |
| THRE- WHEELER (GOODS) | 11,214 | 13,355 | 9,127 | -16.03% | 22.87% |
| THREE-WHEELER (PASSENGER) | 51,363 | 63,451 | 38,026 | -19.05% | 35.07% |
| THREE-WHEELER (PERSONAL) | 110 | 146 | 68 | -24.66% | 61.76% |
| PV | 3,79,671 | 3,96,483 | 2,99,799 | -4.24% | 26.64% |
| TRAC | 1,15,001 | 1,26,033 | 99,306 | -8.75% | 15.80% |
| CE | 5,820 | 5,577 | 7,145 | 4.36% | -18.54% |
| CV | 83,666 | 92,604 | 67,145 | -9.65% | 24.60% |
| LCV | 49,251 | 56,637 | 40,222 | -13.04% | 22.45% |
| MCV | 6,411 | 7,234 | 4,215 | -11.38% | 52.10% |
| HCV | 27,941 | 28,659 | 22,637 | -2.51% | 23.43% |
| Others | 63 | 74 | 71 | -14.86% | -11.27% |
| Total | 20,28,821 | 33,00,832 | 17,69,874 | -38.54% | 14.63% |
Source: FADA Research
Chart showing Fuel Wise Vehicle Retail Market Share for CY’25
| Two-Wheeler | CY’25 | CY’24 | Construction Equipment | CY’25 | CY’24 | |
| PETROL/ETHANOL | 93.49% | 93.72% | Diesel | 100% | 99.93% | |
| EV | 6.31% | 6.07% | CNG/LPG | 0.0% | 0.04% | |
| CNG/LPG | 0.21% | 0.20% | PETROL/ETHANOL | 0.0% | 0.03% | |
| Total | 100% | 100% | EV | 0.2% | 0.01% | |
| Total | 100% | 100% | ||||
| Three-Wheeler | CY’25 | CY’24 | Commercial Vehicle | CY’25 | CY’24 | |
| EV | 60.91% | 56.58% | Diesel | 82.31% | 82.72% | |
| CNG/LPG | 27.06% | 31.30% | CNG/LPG | 11.81% | 10.51% | |
| DIESEL | 11.62% | 11.21% | PETROL/ETHANOL | 4.27% | 5.65% | |
| PETROL/ETHANOL | 0.42% | 0.92% | EV | 1.55% | 1.07% | |
| Total | 100% | 100% | HYBRID | 0.06% | 0.04% | |
| Total | 100% | 100% | ||||
| Passenger Vehicle | CY’25 | CY’24 | Tractor | CY’25 | CY’24 | |
| PETROL/ETHANOL | 48.52% | 52.32% | Diesel | 99.97% | 99.99% | |
| Diesel | 18.02% | 18.23% | PETROL/ETHANOL | 0.01% | 0.01% | |
| CNG/LPG | 21.30% | 18.23% | EV | 0.02% | 0.00% | |
| HYBRID | 8.20% | 8.77% | Total | 100% | 100% | |
| EV | 3.95% | 2.45% | ||||
| Total | 100% | 100% |
Chart showing Fuel Wise Vehicle Retail Market Share for Dec’25
| Two-Wheeler | Dec’25 | Nov’25 | Dec’24 | Construction Equipment | Dec’25 | Nov’25 | Dec’24 | ||||||||||
| PETROL/ETHANOL | 92.49% | 95.30% | 93.40% | Diesel | 100% | 99.95% | 99.96% | ||||||||||
| EV | 7.40% | 4.59% | 6.13% | CNG/LPG | 0.0% | 0.00% | 0.01% | ||||||||||
| CNG/LPG | 0.11% | 0.11% | 0.47% | PETROL/ETHANOL | 0.0% | 0.05% | 0.03% | ||||||||||
| Total | 100% | 100% | 100% | Total | 100% | 100% | 100% | ||||||||||
| Three-Wheeler | Dec’25 | Nov’25 | Dec’24 | Commercial Vehicle | Dec’25 | Nov’25 | Dec’24 | ||||||||||
| EV | 69.12% | 62.47% | 63.29% | Diesel | 82.48% | 82.21% | 82.36% | ||||||||||
| CNG/LPG | 20.30% | 24.73% | 25.65% | CNG/LPG | 11.07% | 11.91% | 11.41% | ||||||||||
| DIESEL | 10.22% | 12.44% | 10.54% | PETROL/ETHANOL | 4.06% | 4.00% | 5.14% | ||||||||||
| PETROL/ETHANOL | 0.36% | 0.36% | 0.52% | EV | 2.35% | 1.83% | 1.05% | ||||||||||
| Total | 100% | 100% | 100% | HYBRID | 0.05% | 0.05% | 0.04% | ||||||||||
| Total | 100% | 100% | 100% | ||||||||||||||
| Passenger Vehicle | Dec’25 | Nov’25 | Dec’24 | Tractor | Dec’25 | Nov’25 | Dec’24 | ||||||||||
| PETROL/ETHANOL | 50.39% | 49.21% | 52.92% | Diesel | 100.00% | 99.99% | 100.00% | ||||||||||
| Diesel | 16.09% | 17.97% | 17.00% | EV | 0.00% | 0.01% | 0.00% | ||||||||||
| CNG/LPG | 21.03% | 20.93% | 17.93% | Total | 100% | 100% | 100% | ||||||||||
| HYBRID | 8.55% | 8.15% | 9.05% | ||||||||||||||
| EV | 3.94% | 3.75% | 3.09% | ||||||||||||||
| Total | 100% | 100% | 100% |
Source: FADA Research
Chart showing Fuel Wise Vehicle Retail for CY’25
| Two-Wheeler | CY’25 | CY’24 | YoY % | Three-Wheeler | CY’25 | CY’24 | YoY % | |
| PETROL/ETHANOL | 1,89,73,565 | 1,77,37,158 | 6.97% | EV | 7,97,733 | 6,91,313 | 15.39% | |
| EV | 12,79,951 | 11,49,416 | 11.36% | CNG/LPG | 3,54,429 | 3,82,197 | -7.27% | |
| CNG/LPG | 42,132 | 38,234 | 10.20% | DIESEL | 1,52,240 | 1,36,954 | 11.16% | |
| HYBRID | – | 1 | 0.00% | PETROL/ETHANOL | 5,441 | 11,225 | 0.00% | |
| Diesel | 1 | 1 | 0.00% | Others | 110 | 197 | -44.16% | |
| Others | 1 | 5 | -80.00% | Total | 13,09,953 | 12,21,886 | 7.21% | |
| Total | 2,02,95,650 | 1,89,24,815 | 7.24% | |||||
| Commercial Vehicle | CY’25 | CY’24 | YoY % | PV | CY’25 | CY’24 | YoY % | |
| Diesel | 8,31,046 | 7,82,635 | 6.19% | PETROL/ETHANOL | 21,71,634 | 21,34,500 | 1.74% | |
| CNG/LPG | 1,19,273 | 99,454 | 19.93% | Diesel | 8,06,571 | 7,43,597 | 8.47% | |
| PETROL/ETHANOL | 43,101 | 53,471 | -19.39% | CNG/LPG | 9,53,344 | 7,43,748 | 28.18% | |
| EV | 15,606 | 10,123 | 54.16% | ETHANOL | – | – | 0.00% | |
| HYBRID | 593 | 413 | 43.58% | HYBRID | 3,66,938 | 3,57,798 | 2.55% | |
| METHANOL | – | – | 0.00% | EV | 1,76,817 | 99,875 | 77.04% | |
| HYDROGEN | 6 | 15 | -60.00% | METHANOL | 3 | – | 0.00% | |
| Others | 29 | 79 | -63.29% | Others | 2 | 14 | -85.71% | |
| Total | 10,09,654 | 9,46,190 | 6.71% | Total | 44,75,309 | 40,79,532 | 9.70% | |
| Commercial Vehicle | CY’25 | CY’24 | YoY % | Tractor | CY’25 | CY’24 | YoY % | |
| Diesel | 73,799 | 79,229 | -6.85% | Diesel | 9,96,298 | 8,93,523 | 11.50% | |
| CNG/LPG | 21 | 29 | -27.59% | PETROL/ETHANOL | 57 | 107 | -46.73% | |
| PETROL/ETHANOL | 13 | 20 | -35.00% | CNG/LPG | 1 | 2 | -50.00% | |
| EV | 182 | 6 | 2933% | EV | 222 | 20 | 1010.00% | |
| HYBRID | 2 | 2 | 0.00% | Others | 55 | 54 | 1.85% | |
| Others | 12 | 30 | -60.00% | Total | 9,96,633 | 8,93,706 | 11.52% | |
| Total | 74,029 | 79,316 | -6.67% |
All India Vehicle Retail Strength YoY and MOM comparison for CY’25 and Dec’25.
| CY’25 | ||||
| Category | YoY% | Category | YoY% | |
| 2W | CV | |||
| Urban | 8.44% | Urban | 8.76% | |
| Rural | 6.40% | Rural | 4.62% | |
| Total | 7.24% | Total | 6.71% | |
| 3W | CE | |||
| Urban | 3.85% | Urban | -0.22% | |
| Rural | 10.22% | Rural | -11.30% | |
| Total | 7.21% | Total | -6.67% | |
| PV | TRAC | |||
| Urban | 8.08% | Urban | 14.31% | |
| Rural | 12.31% | Rural | 10.88% | |
| Total | 9.70% | Total | 11.52% | |
| Total | ||||
| Urban | 8.20% | |||
| Rural | 7.31% | |||
| Total | 7.71% |
Dec’25
| Category | MoM% | YoY% | Category | MoM% | YoY% |
| 2W | CV | ||||
| Urban | -40.53% | 17.83% | Urban | -10.13% | 23.64% |
| Rural | -53.19% | 3.60% | Rural | -9.17% | 25.58% |
| Total | -48.28% | 9.50% | Total | -9.65% | 24.60% |
| 3W | CE | ||||
| Urban | -10.75% | 21.96% | Urban | 11.12% | -15.44% |
| Rural | 0.06% | 47.74% | Rural | -0.24% | -20.75% |
| Total | -4.61% | 36.10% | Total | 4.36% | -18.54% |
| PV | TRAC | ||||
| Urban | -3.63% | 22.93% | Urban | -16.60% | 8.34% |
| Rural | -5.10% | 32.40% | Rural | -6.67% | 17.73% |
| Total | -4.24% | 26.64% | Total | -8.75% | 15.80% |
| Total | |||||
| Urban | -31.32% | 19.12% | |||
| Rural | -43.55% | 11.09% | |||
| Total | -38.54% | 14.63% |
;
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS.
- Vehicle Retail Data has been collated as on 03.01.26 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,401 out of 1,459 RTOs.
- Commercial Vehicle is subdivided in the following manner
- LCV – Light Commercial Vehicle (incl. Passenger & Goods Vehicle)
- MCV – Medium Commercial Vehicle (incl. Passenger & Goods Vehicle)
- HCV – Heavy Commercial Vehicle (incl. Passenger & Goods Vehicle)
- 3-Wheeler is sub-divided in the following manner
- E-Rickshaw – Passenger
- E-Rickshaw – Goods
- 3-Wheeler – Goods
- 3-Wheeler – Passenger
- 3-Wheeler – Personal
OEM wise Market Share Data for CY’25 (YoY comparison)
| Two-Wheeler OEM | CY’25 | Market Share (%) CY’25 | CY’24 | Market Share (%) CY’24 |
| HERO MOTOCORP LTD | 58,23,063 | 28.69% | 54,89,236 | 29.01% |
| HONDA MOTORCYCLE AND SCOOTER INDIA (P) LTD | 50,37,953 | 24.82% | 48,00,438 | 25.37% |
| TVS MOTOR COMPANY LTD | 37,88,459 | 18.67% | 32,40,893 | 17.13% |
| BAJAJ AUTO GROUP | 21,55,166 | 10.62% | 21,85,578 | 11.55% |
| BAJAJ AUTO LTD | 21,55,166 | 10.62% | 21,85,574 | 11.55% |
| CHETAK TECHNOLOGY LIMITED | – | 0.00% | 4 | 0.00% |
| SUZUKI MOTORCYCLE INDIA PVT LTD | 10,97,838 | 5.41% | 9,57,155 | 5.06% |
| ROYAL-ENFIELD (UNIT OF EICHER LTD) | 10,34,155 | 5.10% | 8,16,886 | 4.32% |
| INDIA YAMAHA MOTOR PVT LTD | 6,76,555 | 3.33% | 6,61,055 | 3.49% |
| ATHER ENERGY LTD | 2,00,797 | 0.99% | 1,26,357 | 0.67% |
| OLA ELECTRIC TECHNOLOGIES PVT LTD | 1,99,318 | 0.98% | 4,07,700 | 2.15% |
| GREAVES ELECTRIC MOBILITY PVT LTD | 56,486 | 0.28% | 35,060 | 0.19% |
| CLASSIC LEGENDS PVT LTD | 38,501 | 0.19% | 33,017 | 0.17% |
| PIAGGIO VEHICLES PVT LTD | 32,258 | 0.16% | 34,819 | 0.18% |
| BGAUSS AUTO PRIVATE LIMITED | 22,883 | 0.11% | 18,033 | 0.10% |
| Others Including EV | 1,32,218 | 0.65% | 1,18,588 | 0.63% |
| Total | 2,02,95,650 | 100% | 1,89,24,815 | 100% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS.
- Vehicle Retail Data has been collated as on 03.01.26 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,401 out of 1,459 RTOs.
- Others include OEMs accounting less than 0.1% Market Share.
| Three-Wheeler OEM | CY’25 | Market Share (%) CY’25 | CY’24 | Market Share (%) CY’24 |
| BAJAJ AUTO LTD | 4,50,544 | 34.39% | 4,38,931 | 35.92% |
| MAHINDRA & MAHINDRA LIMITED | 1,04,007 | 7.94% | 76,448 | 6.26% |
| MAHINDRA LAST MILE MOBILITY LTD | 1,03,349 | 7.89% | 74,476 | 6.10% |
| MAHINDRA & MAHINDRA LIMITED | 658 | 0.05% | 1,972 | 0.16% |
| PIAGGIO VEHICLES PVT LTD | 86,502 | 6.60% | 93,717 | 7.67% |
| TVS MOTOR COMPANY LTD | 47,316 | 3.61% | 23,378 | 1.91% |
| YC ELECTRIC VEHICLE | 41,228 | 3.15% | 43,976 | 3.60% |
| ATUL AUTO LTD | 30,490 | 2.33% | 27,079 | 2.22% |
| SAERA ELECTRIC AUTO PVT LTD | 24,803 | 1.89% | 28,292 | 2.32% |
| DILLI ELECTRIC AUTO PVT LTD | 21,915 | 1.67% | 25,042 | 2.05% |
| ZENIAK INNOVATION INDIA LTD | 13,398 | 1.02% | 6,544 | 0.54% |
| MINI METRO EV L.L.P | 13,062 | 1.00% | 14,758 | 1.21% |
| Others including EV | 4,76,688 | 36.39% | 4,43,721 | 36.31% |
| Total | 13,09,953 | 100% | 12,21,886 | 100% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS.
- Vehicle Retail Data has been collated as on 03.01.26 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,401 out of 1,459 RTOs.
- Others include OEMs accounting less than 1% Market Share.
| Commercial Vehicle OEM | CY’25 | Market Share (%) CY’25 | CY’24 | Market Share (%) CY’24 |
| TATA MOTORS LTD | 3,42,766 | 33.95% | 3,46,957 | 36.67% |
| MAHINDRA & MAHINDRA LIMITED | 2,84,930 | 28.22% | 2,50,238 | 26.45% |
| MAHINDRA & MAHINDRA LIMITED | 2,64,434 | 26.19% | 2,31,181 | 24.43% |
| MAHINDRA LAST MILE MOBILITY LTD | 20,496 | 2.03% | 19,057 | 2.01% |
| ASHOK LEYLAND LTD | 1,79,574 | 17.79% | 1,66,746 | 17.62% |
| ASHOK LEYLAND LTD | 1,77,677 | 17.60% | 1,66,196 | 17.56% |
| SWITCH MOBILITY AUTOMOTIVE LTD | 1,897 | 0.19% | 550 | 0.06% |
| VE COMMERCIAL VEHICLES LTD | 83,967 | 8.32% | 75,327 | 7.96% |
| VE COMMERCIAL VEHICLES LTD | 83,300 | 8.25% | 74,750 | 7.90% |
| VE COMMERCIAL VEHICLES LTD (VOLVO BUSES DIVISION) | 667 | 0.07% | 577 | 0.06% |
| MARUTI SUZUKI INDIA LTD | 47,837 | 4.74% | 43,614 | 4.61% |
| FORCE MOTORS LIMITED | 25,901 | 2.57% | 21,031 | 2.22% |
| DAIMLER INDIA COMMERCIAL VEHICLES PVT. LTD | 20,911 | 2.07% | 21,002 | 2.22% |
| SML ISUZU LTD | 14,192 | 1.41% | 13,245 | 1.40% |
| Others | 9,576 | 0.95% | 8,030 | 0.85% |
| Total | 10,09,654 | 100.00% | 9,46,190 | 100.00% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS.
- Vehicle Retail Data has been collated as on 03.01.26 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,401 out of 1,459 RTOs.
- Others include OEMs accounting less than 1% Market Share.
| Construction Equipment OEM | CY’25 | Market Share (%) CY’25 | CY’24 | Market Share (%) CY’24 |
| JCB INDIA LIMITED | 34,833 | 47.05% | 40,351 | 50.87% |
| ACTION CONSTRUCTION EQUIPMENT LTD. | 8,269 | 11.17% | 8,877 | 11.19% |
| AJAX ENGINEERING LTD | 4,879 | 6.59% | 4,515 | 5.69% |
| ESCORTS KUBOTA LIMITED (CONSTRUCTION EQUIPMENT) | 4,723 | 6.38% | 5,476 | 6.90% |
| CASE NEW HOLLAND CONSTRUCTION EQUIPMENT(I) PVT LTD | 2,034 | 2.75% | 1,842 | 2.32% |
| TATA HITACHI CONSTRUCTION MACHINERY COMP. PVT LTD | 2,014 | 2.72% | 1,883 | 2.37% |
| CATERPILLAR INDIA PRIVATE LIMITED | 1,762 | 2.38% | 2,085 | 2.63% |
| BULL MACHINES PVT LTD | 1,723 | 2.33% | 1,354 | 1.71% |
| ALL TERRAIN CRANE | 1,522 | 2.06% | 1,097 | 1.38% |
| LIUGONG INDIA PVT. LTD | 1,196 | 1.62% | 863 | 1.09% |
| MAHINDRA & MAHINDRA LIMITED | 1,172 | 1.58% | 1,244 | 1.57% |
| M/S SCHWING STETTER (INDIA) PRIVATE LIMITED | 1,117 | 1.51% | 1,103 | 1.39% |
| Others | 8,785 | 11.87% | 8,626 | 10.88% |
| Total | 74,029 | 100.00% | 79,316 | 100.00% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS.
- Vehicle Retail Data has been collated as on 03.01.26 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,401 out of 1,459 RTOs.
- Others include OEMs accounting less than 1% Market Share.
| PV OEM | CY’25 | Market Share (%) CY’25 | CY’24 | Market Share (%) CY’24 |
| MARUTI SUZUKI INDIA LTD | 17,86,226 | 39.91% | 16,41,773 | 40.24% |
| MAHINDRA & MAHINDRA LIMITED | 5,92,771 | 13.25% | 4,92,981 | 12.08% |
| TATA MOTORS LTD | 5,67,607 | 12.68% | 5,37,737 | 13.18% |
| HYUNDAI MOTOR INDIA LTD | 5,59,558 | 12.50% | 5,61,183 | 13.76% |
| TOYOTA KIRLOSKAR MOTOR PVT LTD | 3,20,703 | 7.17% | 2,60,591 | 6.39% |
| KIA INDIA PRIVATE LIMITED | 2,59,043 | 5.79% | 2,38,222 | 5.84% |
| SKODA AUTO VOLKSWAGEN GROUP | 1,08,277 | 2.42% | 79,880 | 1.96% |
| SKODA AUTO VOLKSWAGEN INDIA PVT LTD | 1,07,532 | 2.40% | 79,285 | 1.94% |
| VOLKSWAGEN AG/INDIA PVT. LTD. | 388 | 0.01% | 4 | 0.00% |
| AUDI AG | 280 | 0.01% | 501 | 0.01% |
| SKODA AUTO INDIA/AS PVT LTD | 77 | 0.00% | 90 | 0.00% |
| JSW MG MOTOR INDIA PVT LTD | 65,614 | 1.47% | 52,975 | 1.30% |
| HONDA CARS INDIA LTD | 62,576 | 1.40% | 69,137 | 1.69% |
| RENAULT INDIA PVT LTD | 36,420 | 0.81% | 40,669 | 1.00% |
| NISSAN MOTOR INDIA PVT LTD | 21,875 | 0.49% | 26,225 | 0.64% |
| MERCEDES -BENZ GROUP | 18,026 | 0.40% | 17,324 | 0.42% |
| MERCEDES-BENZ INDIA PVT LTD | 16,682 | 0.37% | 15,883 | 0.39% |
| MERCEDES -BENZ AG | 1,324 | 0.03% | 1,439 | 0.04% |
| DAIMLER AG | 4 | 0.00% | 2 | 0.00% |
| MERCEDES BENZ | 16 | 0.00% | – | 0.00% |
| BMW INDIA PVT LTD | 16,735 | 0.37% | 14,375 | 0.35% |
| STELLANTIS GROUP | 10,686 | 0.24% | 11,318 | 0.28% |
| STELLANTIS AUTOMOBILES INDIA PVT LTD | 7,045 | 0.16% | 6,718 | 0.16% |
| STELLANTIS INDIA PVT LTD | 3,641 | 0.08% | 4,600 | 0.11% |
| FORCE MOTORS LIMITED | 7,627 | 0.17% | 6,043 | 0.15% |
| JAGUAR LAND ROVER INDIA LIMITED | 5,792 | 0.13% | 4,697 | 0.12% |
| BYD INDIA PRIVATE LIMITED | 5,402 | 0.12% | 2,869 | 0.07% |
| Others | 30,371 | 0.68% | 21,533 | 0.53% |
| Total | 44,75,309 | 100.0% | 40,79,532 | 100.0% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS.
- Vehicle Retail Data has been collated as on 03.01.26 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,401 out of 1,459 RTOs.
| Tractor OEM | CY’25 | Market Share (%) CY’25 | CY’24 | Market Share (%) CY’24 |
| MAHINDRA & MAHINDRA LIMITED (TRACTOR) | 2,37,980 | 23.88% | 2,08,781 | 23.36% |
| MAHINDRA & MAHINDRA LIMITED (SWARAJ DIVISION) | 1,86,529 | 18.72% | 1,66,191 | 18.60% |
| INTERNATIONAL TRACTORS LIMITED | 1,26,741 | 12.72% | 1,16,975 | 13.09% |
| TAFE LIMITED | 1,11,947 | 11.23% | 1,03,157 | 11.54% |
| ESCORTS KUBOTA LIMITED (AGRI MACHINERY GROUP) | 1,06,482 | 10.68% | 87,436 | 9.78% |
| JOHN DEERE INDIA PVT LTD (TRACTOR DEVISION) | 76,563 | 7.68% | 67,051 | 7.50% |
| EICHER TRACTORS | 61,768 | 6.20% | 59,471 | 6.65% |
| CNH INDUSTRIAL (INDIA) PVT LTD | 43,356 | 4.35% | 35,908 | 4.02% |
| Others | 45,267 | 4.54% | 48,736 | 5.45% |
| Total | 9,96,633 | 100% | 8,93,706 | 100% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS.
- Vehicle Retail Data has been collated as on 03.01.26 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,401 out of 1,459 RTOs.
- Others include OEMs accounting less than 1% Market Share.
Annexure 2
OEM wise Market Share Data for Dec’25 (YoY comparison)
| Two-Wheeler OEM | Dec’25 | Market Share (%) Dec’25 | Dec’24 | Market Share (%) Dec’24 |
| HONDA MOTORCYCLE AND SCOOTER INDIA (P) LTD | 3,56,128 | 27.04% | 3,17,403 | 26.39% |
| HERO MOTOCORP LTD | 2,90,813 | 22.08% | 3,29,152 | 27.37% |
| TVS MOTOR COMPANY LTD | 2,65,707 | 20.18% | 2,13,751 | 17.77% |
| BAJAJ AUTO GROUP | 1,38,012 | 10.48% | 1,39,532 | 11.60% |
| BAJAJ AUTO LTD | 1,38,012 | 10.48% | 1,39,532 | 11.60% |
| CHETAK TECHNOLOGY LIMITED | – | 0.00% | – | 0.00% |
| ROYAL-ENFIELD (UNIT OF EICHER LTD) | 82,057 | 6.23% | 55,234 | 4.59% |
| SUZUKI MOTORCYCLE INDIA PVT LTD | 80,058 | 6.08% | 63,138 | 5.25% |
| INDIA YAMAHA MOTOR PVT LTD | 54,363 | 4.13% | 41,804 | 3.48% |
| ATHER ENERGY LTD | 17,058 | 1.30% | 10,532 | 0.88% |
| OLA ELECTRIC TECHNOLOGIES PVT LTD | 9,021 | 0.69% | 13,807 | 1.15% |
| GREAVES ELECTRIC MOBILITY PVT LTD | 4,751 | 0.36% | 2,794 | 0.23% |
| CLASSIC LEGENDS PVT LTD | 3,748 | 0.28% | 2,404 | 0.20% |
| PIAGGIO VEHICLES PVT LTD | 2,417 | 0.18% | 2,260 | 0.19% |
| BGAUSS AUTO PRIVATE LIMITED | 2,188 | 0.17% | 1,102 | 0.09% |
| RIVER MOBILITY PVT LTD | 1,796 | 0.14% | 195 | 0.02% |
| Others Including EV | 8,774 | 0.67% | 9,492 | 0.79% |
| Total | 13,16,891 | 100% | 12,02,600 | 100% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS.
- Vehicle Retail Data has been collated as on 03.01.26 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,401 out of 1,459 RTOs.
- Others include OEMs accounting less than 1% Market Share.
| Three-Wheeler OEM | Dec’25 | Market Share (%) Dec’25 | Dec’24 | Market Share (%) Dec’24 |
| BAJAJ AUTO LTD | 35,208 | 27.56% | 28,995 | 30.89% |
| MAHINDRA & MAHINDRA LIMITED | 8,681 | 6.79% | 6,152 | 6.55% |
| MAHINDRA LAST MILE MOBILITY LTD | 8,418 | 6.59% | 6,124 | 6.52% |
| MAHINDRA & MAHINDRA LIMITED | 263 | 0.21% | 28 | 0.03% |
| PIAGGIO VEHICLES PVT LTD | 7,534 | 5.90% | 6,469 | 6.89% |
| TVS MOTOR COMPANY LTD | 5,085 | 3.98% | 1,909 | 2.03% |
| ZENIAK INNOVATION INDIA LTD | 4,070 | 3.19% | 1,013 | 1.08% |
| YC ELECTRIC VEHICLE | 2,958 | 2.32% | 3,800 | 4.05% |
| HOOGHLY MOTORS PVT LTD | 2,742 | 2.15% | 461 | 0.49% |
| ATUL AUTO LTD | 2,673 | 2.09% | 2,232 | 2.38% |
| DILLI ELECTRIC AUTO PVT LTD | 2,169 | 1.70% | 2,061 | 2.20% |
| AAHANA COMMERCE PVT LTD | 2,058 | 1.61% | 393 | 0.42% |
| SAERA ELECTRIC AUTO PVT LTD | 1,882 | 1.47% | 2,102 | 2.24% |
| FEDE INDUSTRIES PVT LTD | 1,808 | 1.42% | 177 | 0.19% |
| JAJODIA COMMODITIES PVT LTD | 1,715 | 1.34% | 208 | 0.22% |
| TERRA MOTORS INDIA PVT LTD | 1,620 | 1.27% | 736 | 0.78% |
| VANI ELECTRIC VEHICLES PVT LTD | 1,348 | 1.06% | 480 | 0.51% |
| Others including EV | 46,221 | 36.17% | 36,691 | 39.08% |
| Total | 1,27,772 | 100% | 93,879 | 100% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS.
- Vehicle Retail Data has been collated as on 03.01.26 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,401 out of 1,459 RTOs.
- Others include OEMs accounting less than 1% Market Share.
| Commercial Vehicle OEM | Dec’25 | Market Share (%) Dec’25 | Dec’24 | Market Share (%) Dec’24 |
| TATA MOTORS LTD | 29,560 | 35.33% | 24,327 | 36.23% |
| MAHINDRA & MAHINDRA LIMITED | 22,766 | 27.21% | 18,917 | 28.17% |
| MAHINDRA & MAHINDRA LIMITED | 21,504 | 25.70% | 17,516 | 26.09% |
| MAHINDRA LAST MILE MOBILITY LTD | 1,262 | 1.51% | 1,401 | 2.09% |
| ASHOK LEYLAND LTD | 15,238 | 18.21% | 11,745 | 17.49% |
| ASHOK LEYLAND LTD | 14,918 | 17.83% | 11,648 | 17.35% |
| SWITCH MOBILITY AUTOMOTIVE LTD | 320 | 0.38% | 97 | 0.14% |
| VE COMMERCIAL VEHICLES LTD | 6,737 | 8.05% | 4,594 | 6.84% |
| VE COMMERCIAL VEHICLES LTD | 6,656 | 7.96% | 4,529 | 6.75% |
| VE COMMERCIAL VEHICLES LTD (VOLVO BUSES DIVISION) | 81 | 0.10% | 65 | 0.10% |
| MARUTI SUZUKI INDIA LTD | 4,004 | 4.79% | 3,550 | 5.29% |
| FORCE MOTORS LIMITED | 1,613 | 1.93% | 1,280 | 1.91% |
| DAIMLER INDIA COMMERCIAL VEHICLES PVT. LTD | 1,780 | 2.13% | 1,600 | 2.38% |
| SML ISUZU LTD | 918 | 1.10% | 644 | 0.96% |
| Others | 1,050 | 1.25% | 488 | 0.73% |
| Total | 83,666 | 100.00% | 67,145 | 100.00% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS.
- Vehicle Retail Data has been collated as on 03.01.26 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,401 out of 1,459 RTOs.
- Others include OEMs accounting less than 1% Market Share.
| Construction Equipment OEM | Dec’25 | Market Share (%) Dec’25 | Dec’24 | Market Share (%) Dec’24 |
| JCB INDIA LIMITED | 3,077 | 52.87% | 3,695 | 51.71% |
| ACTION CONSTRUCTION EQUIPMENT LTD. | 589 | 10.12% | 699 | 9.78% |
| AJAX ENGINEERING LTD | 408 | 7.01% | 376 | 5.26% |
| ESCORTS KUBOTA LIMITED (CONSTRUCTION EQUIPMENT) | 376 | 6.46% | 444 | 6.21% |
| CASE NEW HOLLAND CONSTRUCTION EQUIPMENT(I) PVT LTD | 177 | 3.04% | 167 | 2.34% |
| TATA HITACHI CONSTRUCTION MACHINERY COMP. PVT LTD | 141 | 2.42% | 176 | 2.46% |
| ALL TERRAIN CRANE | 111 | 1.91% | 201 | 2.81% |
| BULL MACHINES PVT LTD | 107 | 1.84% | 173 | 2.42% |
| CATERPILLAR INDIA PRIVATE LIMITED | 87 | 1.49% | 164 | 2.30% |
| SANY HEAVY INDUSTRY INDIA PVT LTD | 86 | 1.48% | 35 | 0.49% |
| M/S SCHWING STETTER (INDIA) PRIVATE LIMITED | 66 | 1.13% | 123 | 1.72% |
| Others | 595 | 10.22% | 892 | 12.48% |
| Total | 5,820 | 100.00% | 7,145 | 100.00% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS.
- Vehicle Retail Data has been collated as on 03.01.26 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,401 out of 1,459 RTOs.
- Others include OEMs accounting less than 1% Market Share.
| PV OEM | Dec’25 | Market Share (%) Dec’25 | Dec’24 | Market Share (%) Dec’24 |
| MARUTI SUZUKI INDIA LTD | 1,50,123 | 39.54% | 1,17,861 | 39.31% |
| TATA MOTORS LTD | 52,139 | 13.73% | 38,482 | 12.84% |
| HYUNDAI MOTOR INDIA LTD | 48,413 | 12.75% | 40,298 | 13.44% |
| MAHINDRA & MAHINDRA LIMITED | 47,882 | 12.61% | 37,051 | 12.36% |
| TOYOTA KIRLOSKAR MOTOR PVT LTD | 26,012 | 6.85% | 20,434 | 6.82% |
| KIA INDIA PRIVATE LIMITED | 20,568 | 5.42% | 17,894 | 5.97% |
| SKODA AUTO VOLKSWAGEN GROUP | 9,193 | 2.42% | 6,620 | 2.21% |
| SKODA AUTO VOLKSWAGEN INDIA PVT LTD | 9,090 | 2.39% | 6,582 | 2.20% |
| VOLKSWAGEN AG/INDIA PVT. LTD. | 55 | 0.01% | – | 0.00% |
| AUDI AG | 14 | 0.00% | 23 | 0.01% |
| SKODA AUTO INDIA/AS PVT LTD | 34 | 0.01% | 15 | 0.01% |
| HONDA CARS INDIA LTD | 5,537 | 1.46% | 4,939 | 1.65% |
| JSW MG MOTOR INDIA PVT LTD | 4,178 | 1.10% | 5,700 | 1.90% |
| RENAULT INDIA PVT LTD | 3,304 | 0.87% | 2,415 | 0.81% |
| NISSAN MOTOR INDIA PVT LTD | 1,744 | 0.46% | 1,688 | 0.56% |
| BMW INDIA PVT LTD | 1,582 | 0.42% | 1,366 | 0.46% |
| MERCEDES -BENZ GROUP | 1,361 | 0.36% | 1,515 | 0.51% |
| MERCEDES-BENZ INDIA PVT LTD | 1,281 | 0.34% | 1,391 | 0.46% |
| MERCEDES -BENZ AG | 76 | 0.02% | 123 | 0.04% |
| DAIMLER AG | – | 0.00% | 1 | 0.00% |
| MERCEDES BENZ | 4 | 0.00% | – | 0.00% |
| STELLANTIS GROUP | 1,226 | 0.32% | 760 | 0.25% |
| STELLANTIS AUTOMOBILES INDIA PVT LTD | 982 | 0.26% | 435 | 0.15% |
| STELLANTIS INDIA PVT LTD | 244 | 0.06% | 325 | 0.11% |
| FORCE MOTORS LIMITED | 727 | 0.19% | 335 | 0.11% |
| VINFAST AUTO INDIA PVT LTD | 376 | 0.10% | – | 0.00% |
| JAGUAR LAND ROVER INDIA LIMITED | 311 | 0.08% | 311 | 0.10% |
| BYD INDIA PRIVATE LIMITED | 237 | 0.06% | 309 | 0.10% |
| Others | 4,758 | 1.25% | 1,821 | 0.61% |
| Total | 3,79,671 | 100.0% | 2,99,799 | 100.0% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS.
- Vehicle Retail Data has been collated as on 03.01.26 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,401 out of 1,459 RTOs.
- Others include OEMs accounting less than 1% Market Share.
| Tractor OEM | Dec’25 | Market Share (%) Dec’25 | Dec’24 | Market Share (%) Dec’24 |
| MAHINDRA & MAHINDRA LIMITED (TRACTOR) | 29,475 | 25.63% | 24,295 | 24.46% |
| MAHINDRA & MAHINDRA LIMITED (SWARAJ DIVISION) | 22,213 | 19.32% | 18,232 | 18.36% |
| INTERNATIONAL TRACTORS LIMITED | 13,933 | 12.12% | 12,781 | 12.87% |
| ESCORTS KUBOTA LIMITED (AGRI MACHINERY GROUP) | 13,098 | 11.39% | 9,257 | 9.32% |
| TAFE LIMITED | 11,483 | 9.99% | 11,562 | 11.64% |
| JOHN DEERE INDIA PVT LTD (TRACTOR DEVISION) | 8,450 | 7.35% | 6,321 | 6.37% |
| EICHER TRACTORS | 6,909 | 6.01% | 6,972 | 7.02% |
| CNH INDUSTRIAL (INDIA) PVT LTD | 4,921 | 4.28% | 4,054 | 4.08% |
| Others | 4,519 | 3.93% | 5,832 | 5.87% |
| Total | 1,15,001 | 100% | 99,306 | 100% |
Source: FADA Research
Disclaimer:
- The above numbers do not have figures from TS.
- Vehicle Retail Data has been collated as on 03.01.26 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,401 out of 1,459 RTOs.
- Others include OEMs accounting less than 1% Market Share.
