India auto wholesales hit record April; PVs up 25.4%, two-wheelers up 28.4%
Indian auto industry posted record April 2026 wholesales at 23.75 lakh units, up 28% y-o-y. Maruti Suzuki led PVs with 1.87 lakh units (+35.3%), Tata Motors PV up 30.5%, M&M up 8%, Hyundai up 17%. Post-GST-cut demand absorbed price hikes of up to 3% by most OEMs barring Maruti.
What happened
Maruti Suzuki India · Indian auto wholesales hit record highs in April 2026 with PVs up 25.4%, two-wheelers up 28.4%, three-wheelers up 32.8% y-o-y, driven by
Key facts
- PV sales 4,37,312 units, up 25.4% y-o-y
- MSIL 1,87,704 units, up 35.3%
- Tata Motors PV up 30.5% to 59,000
- M&M up 8% to 56,331
- HMIL up 17% to 51,902
- Two-wheelers up 28.4% to 18,72,691
- Three-wheelers up 32.8% to 65,668
- Total up 28% to 23,75,671
- Exports up 38% to 6,28,128
- Price hikes up to 3%
Why this matters
OEM pricing power absorbing 3% hikes alongside volume acceleration creates a window for component-supplier roll-ups and EV-platform JVs before multiples expand further.