India Passenger Vehicle Retail Sales Grow 18.4% in July 2026; Maruti Leads, Tata Edges Mahindra for No. 2
- Team Autopunditz
- 1 day ago
- 4 min read
India’s passenger vehicle market delivered a strong year-on-year performance in July 2026, with Vahan registration data indicating 4,08,753 vehicles registered during the month, an increase of 18.4% over July 2025.
While the annual growth remained robust, registrations softened marginally on a sequential basis. July volumes were 2.2% lower than June 2026, when 4,17,995 vehicles were registered.
Maruti Suzuki continued to dominate the market with nearly 40% share, while the battle between Tata Motors and Mahindra remained extremely close. Renault, Nissan and Citroen were among the fastest-growing brands on a year-on-year basis.
July 2026 Passenger Vehicle Registration Snapshot
Rank | OEM | July 2026 | July 2025 | YoY | June 2026 | MoM | July'26 MS |
1 | Maruti Suzuki | 1,62,257 | 1,35,859 | +19.4% | 1,72,457 | -5.9% | 39.7% |
2 | Tata | 56,827 | 41,594 | +36.6% | 56,957 | -0.2% | 13.9% |
3 | Mahindra | 56,375 | 47,525 | +18.6% | 58,144 | -3.0% | 13.8% |
4 | Hyundai | 47,788 | 45,279 | +5.5% | 45,142 | +5.9% | 11.7% |
5 | Toyota | 29,470 | 27,906 | +5.6% | 30,288 | -2.7% | 7.2% |
6 | Kia | 25,470 | 20,972 | +21.4% | 23,987 | +6.2% | 6.2% |
7 | Skoda + VW | 8,176 | 8,863 | -7.8% | 8,494 | -3.7% | 2.0% |
8 | MG | 7,003 | 6,927 | +1.1% | 7,385 | -5.2% | 1.7% |
9 | Honda | 5,802 | 4,827 | +20.2% | 5,015 | +15.7% | 1.4% |
10 | Renault | 3,500 | 2,313 | +51.3% | 3,916 | -10.6% | 0.9% |
11 | Nissan | 2,691 | 1,555 | +73.1% | 2,800 | -3.9% | 0.7% |
12 | VinFast | 1,480 | – | – | 1,448 | +2.2% | 0.4% |
13 | Citroen | 949 | 585 | +62.2% | 760 | +24.9% | 0.2% |
14 | BYD | 747 | 613 | +21.9% | 927 | -19.4% | 0.2% |
15 | Jeep | 218 | 289 | -24.6% | 275 | -20.7% | 0.1% |
Total | 4,08,753 | 3,45,107 | +18.4% | 4,17,995 | -2.2% |
Maruti Suzuki Maintains Nearly 40% Market Share
Maruti Suzuki remained comfortably India's largest passenger vehicle manufacturer by retail registrations, recording 1,62,257 units in July 2026.
Registrations increased 19.4% YoY from 1,35,859 units in July 2025. However, compared with June 2026, Maruti's registrations declined 5.9%.
More importantly, its market share stood at 39.7%, slightly higher than 39.4% a year earlier. Despite intensifying competition across SUVs and alternative powertrains, Maruti continues to account for roughly four out of every ten passenger vehicles registered in the country.
Tata vs Mahindra: Just 452 Units Separate No. 2 and No. 3
One of the biggest highlights of July was the remarkably close contest for second position.
Tata Motors registered 56,827 vehicles, narrowly beating Mahindra's 56,375 units. The difference between the two manufacturers was just 452 vehicles.
Tata was also one of the strongest performers among the large OEMs, with registrations increasing 36.6% YoY. Its market share expanded from 12.1% to 13.9%, representing a gain of around 1.9 percentage points.
Mahindra grew 18.6% YoY and captured 13.8% of the market. Its share was broadly unchanged from July 2025.
Together, Tata and Mahindra accounted for 27.7% of July PV registrations, highlighting the growing influence of the two homegrown manufacturers.
Hyundai Returns to MoM Growth, But Market Share Declines
Hyundai registered 47,788 vehicles, representing a relatively modest 5.5% YoY increase.
Sequential performance was stronger, however, with registrations rising 5.9% over June.
Despite higher volumes, Hyundai's market share declined substantially from 13.1% in July 2025 to 11.7% in July 2026. This indicates that Hyundai grew slower than the overall passenger vehicle market during the period.
Toyota Crosses 29,000 Registrations
Toyota registered 29,470 units, up 5.6% YoY, retaining fifth position.
Its July market share stood at 7.2%, compared with 8.1% a year ago. Registrations were also down 2.7% compared with June.
Toyota therefore continued to grow volumes year-on-year, although its growth lagged the broader industry's 18.4% expansion.
Kia Posts Strong 21.4% Growth
Kia was among the stronger-performing major manufacturers in July.
The Korean automaker registered 25,470 vehicles, an increase of 21.4% YoY and 6.2% MoM.
Its market share improved marginally from 6.1% to 6.2%.
Kia was one of only a handful of manufacturers in the table to deliver both YoY and MoM growth during July.
Skoda-Volkswagen Registrations Fall 7.8%
Combined Skoda and Volkswagen registrations stood at 8,176 units, down 7.8% YoY and 3.7% MoM.
Their combined market share declined from 2.6% to 2.0%, representing a 0.6 percentage-point contraction.
MG, meanwhile, registered 7,003 units. Volumes were almost flat year-on-year at +1.1%, while declining 5.2% sequentially.
Honda Records Strong Sequential Recovery
Honda registered 5,802 vehicles, delivering 20.2% YoY growth.
More notably, registrations increased 15.7% compared with June 2026, making Honda one of the strongest MoM performers among established manufacturers during the month.
Its market share remained broadly stable at 1.4%.
Renault, Nissan and Citroen Record Sharp YoY Growth
Several smaller manufacturers recorded eye-catching percentage growth, albeit from comparatively low bases.
Nissan recorded the highest YoY growth at 73.1%, with registrations rising from 1,555 to 2,691 units.
Citroen followed with 62.2% growth, reaching 949 registrations, while Renault's registrations increased 51.3% to 3,500 units.
Citroen also posted the strongest sequential increase in the table, growing 24.9% MoM.
The sharp percentage gains need to be viewed in the context of their relatively small volumes, but the numbers nevertheless indicate improving retail momentum for these brands.
VinFast Registers 1,480 EVs
New entrant VinFast recorded 1,480 registrations during July, compared with 1,448 in June – an increase of 2.2%.
The EV manufacturer captured approximately 0.4% of India's overall passenger vehicle market, an interesting development considering its relatively recent entry into the country.
A meaningful YoY comparison is not available as the corresponding July 2025 base was zero.
BYD Grows YoY but Falls Sharply MoM
BYD registered 747 vehicles, up 21.9% from July 2025.
However, registrations declined 19.4% from June's 927 units, making BYD one of the steepest sequential decliners during July.
Its overall PV market share remained at approximately 0.2%.
Jeep Continues to Face Pressure
Jeep finished July with 218 registrations, down 24.6% YoY and 20.7% MoM.
It was the steepest YoY decline among the manufacturers covered in the table, while its passenger vehicle market share stood at approximately 0.1%.
July 2026: Key Takeaways
July's registration data points to a passenger vehicle market that remains considerably stronger than last year, even though volumes cooled from June.
The biggest developments were Maruti Suzuki retaining a commanding 39.7% share; Tata gaining substantial market share and narrowly beating Mahindra; Kia and Honda delivering growth both YoY and MoM; and Nissan, Citroen and Renault posting strong percentage gains from smaller bases.
At the same time, Hyundai's declining market share deserves attention. Despite increasing registrations, its share fell by around 1.4 percentage points as competitors expanded faster.
Overall PV registrations of 4.09 lakh units and 18.4% YoY growth indicate healthy retail momentum entering the second half of CY2026.
Data source: Vahan portal; data downloaded as of August 3, 2026. Vahan registration figures may subsequently change marginally as registrations are updated.