Moody's pegs India car sales growth at 7% in 2026, 5% in 2027 after early-year surge
Moody's expects India light vehicle sales to grow 7% in 2026 and 5% in 2027, cooling from a 20% YoY jump in Jan-Apr 2026 fueled by GST cuts, rate cuts and tax relief. FY26 volumes seen at 4.7M units (+8% YoY). EVs still just 6% of PV sales versus a 30% target by 2030.
Moody's forecasts India light vehicle sales growth of 7% in 2026 and 5% in 2027, moderating from 20% YoY surge in early 2026 driven by GST cuts, rate cuts and tax relief. EVs remain only 6% of PV sales.