Indian auto wholesales hit record April despite 3% price hikes; PVs up 25%, 2W up 28%
April 2026 wholesales totaled 23.75 lakh units, up 28% y-o-y, as GST-cut momentum overpowered price hikes of up to 3%. Maruti led PVs at 1.87 lakh units (+35.3%), Tata Motors PV hit 59,000 (+30.5%), Hyundai 51,902 (+17%), M&M 56,331 (+8%). Exports surged 38% to 6.28 lakh units.
What happened
Maruti Suzuki India · Indian auto wholesales hit record highs in April 2026 despite up-to-3% price hikes, with PVs up 25.4%, 2W up 28.4% and 3W up 32.8%;
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 59,000 up 30.5%
- M&M 56,331 up 8%
- Hyundai 51,902 up 17%
- 2W wholesales 18,72,691 up 28.4%
- 3W 65,668 up 32.8%
- Total 23,75,671 up 28%
- Exports 6,28,128 up 38%
- Price hikes up to 3%
Why this matters
Record April volumes and 38% export growth widen the strategic window for component-supplier roll-ups and EV/export-capacity JVs while OEM cash flows are peaking.