Maruti, Tata, Mahindra, Kia post double-digit May growth as PV industry shrugs off price hikes
India's passenger vehicle retail held firm in May 2026 with Maruti Suzuki up 40% YoY (a new monthly record), Tata Motors +42%, Kia +24% and Mahindra +11%. SUVs grew 57% and CNG hit a record 78,000 units, signaling resilient demand despite OEM price hikes.
What happened
Indian passenger vehicle industry posted resilient May 2026 sales, with Maruti Suzuki (+40%), Tata Motors (+42%), Mahindra (+11%), and Kia (+24%) showing
Key facts
- 94% PV volume share
- 40% YoY Maruti
- 42% YoY Tata
- 11% YoY Mahindra
- 24% YoY Kia
- 57% SUV growth
- 78,000 CNG units
Why this matters
With CNG hitting record 78K units and SUV demand running +57%, accelerate scouting of CNG powertrain suppliers and SUV-platform JV targets before valuations reprice on this print.