Top carmakers and two-wheeler makers posted double-digit dispatch growth in November, indicating that sales momentum has sustained after the festive season thanks to a GST rate cut of up to 10% from September 22. Early estimates put total passenger vehicle sales at 420,000-425,000 units in November 2025, up from 350,000 units in the same month last year.
India’s largest carmaker Maruti Suzuki (MSIL) reported its highest-ever monthly sales in November 2025 at 229,021 units. In the domestic market, vehicle dispatches to dealers were at 170,971 units compared to 141,312 units in the year-ago month, an increase of 21%.
MSIL Senior Executive Officer, Marketing & Sales, Partho Banerjee, said retail growth was even better, at 31 per cent year-on-year, in November. He noted that retail sales of its small car portfolio -- S Presso, Alto K10, Celerio, WagonR -- witnessed an increase of 37% in November.
"We are receiving very good traction – currently, we do not have any stock in the factory for eight models. The pending bookings are hovering at around 1.5 lakh units," Banerjee said. He added that with demand expected to remain strong, the company is trying to augment production and expects the industry to log a growth of 5-6% in the current fiscal.
Hyundai (HMIL) achieved total monthly sales of 66,840 units in November, up 9.1% year-on-year. The company’s domestic sales grew by 4.35% to 50,340 units. Tarun Garg, Whole-time Director & Chief Operating Officer, HMIL said, “Supported by GST 2.0 reforms, we continue to carry forward sales momentum with a year-on-year growth in our monthly domestic sales in November 2025.”
Tata Motors Passenger Vehicles’ domestic sales came at 57,436 units in November, up 22% from 47,063 units in the same month last year. SUV major Mahindra & Mahindra sold 56,336 vehicles in the domestic market, a growth of 22%. Kia and Toyota reported 24% and 28% growth in November dispatches.
In the two-wheeler space, TVS Motor reported that total two-wheeler sales registered a growth of 27% y-o-y to 497,841 units in November. Domestic two-wheeler sales registered a growth of 20% to 365,608 units in November.
Hero MotoCorp dispatched 604,490 units in November, marking a 31% Y-o-Y growth. Honda Motorcycle and Scooter India’s (HMSI) total sales grew by 25% to 591,136 units.
Bajaj Auto reported a 1% year-on-year dip in domestic two-wheeler sales at 202,510 units in November. However, the company reported an 8% year-on-year growth in total vehicle wholesales, including exports, at 453,273 units in November.
Royal Enfield posted monthly sales of 100,670 motorcycles in November, up 22% Y-o-Y.