Vahan Sales Snapshot: May 2026

Passenger vehicle registrations grow 23.9% YoY, but decline 5.4% MoM

India’s passenger vehicle registration market posted a strong year-on-year performance in May 2026, supported by healthy retail demand and a strong showing from market leader Maruti Suzuki. As per Vahan registration data, the top 15 OEMs together recorded 3,97,301 units in May 2026, compared to 3,20,612 units in May 2025, registering a robust 23.9% YoY growth.

However, on a month-on-month basis, registrations declined 5.4% from 4,20,112 units in April 2026, indicating some moderation after a strong April performance.

*Vahan registrations data as downloaded on 4th June'26

• Maruti Suzuki remained the undisputed leader in May 2026 with 1,65,441 registrations, compared to 1,24,165 units in May 2025. The company recorded a strong 33.2% YoY growth and also managed a marginal 0.9% MoM growth over April 2026. Maruti’s market share improved sharply to 41.6%, up from 38.7% in May 2025. This translated into a 2.9 percentage point gain, the highest market share increase among all OEMs in the table.

• Tata Motors ranked second with 54,151 registrations in May 2026. The brand grew by an impressive 39.3% YoY, compared to 38,875 units in May 2025. However, Tata’s registrations declined 8.4% MoM from 59,110 units in April 2026. Despite the monthly decline, Tata’s market share improved from 12.1% in May 2025 to 13.6% in May 2026, a gain of 1.5 percentage points.

• Mahindra registered 51,745 units in May 2026, growing 7.8% YoY from 48,006 units in May 2025. While the company remained in third position, its growth was much lower than the overall industry growth rate. On a month-on-month basis, Mahindra declined 14.0%, from 60,156 units in April 2026. Its market share dropped from 15.0% in May 2025 to 13.0% in May 2026, resulting in a 1.9 percentage point loss.

• Hyundai ranked fourth with 46,223 registrations in May 2026. The brand grew 12.8% YoY from 40,980 units in May 2025. However, Hyundai saw a 6.6% MoM decline compared to 49,468 units in April 2026. Its market share also reduced from 12.8% to 11.6%, a decline of 1.1 percentage points.

• Toyota recorded 26,415 registrations in May 2026, up 6.2% YoY from 24,867 units in May 2025. On a month-on-month basis, Toyota declined 9.1% from 29,069 units in April 2026. Toyota’s market share fell from 7.8% to 6.6%, a drop of 1.1 percentage points.

• Kia India registered 24,647 units in May 2026, compared to 18,452 units in May 2025, recording a strong 33.6% YoY growth. MoM registrations declined 7.1% from 26,532 units in April 2026, but Kia still improved its market share from 5.8% to 6.2%, gaining 0.4 percentage points.

• The combined Skoda + Volkswagen registrations stood at 8,377 units, down 10.3% YoY and 11.3% MoM. Their combined market share declined from 2.9% to 2.1%.

• MG Motor registered 5,862 units, down 1.7% YoY and 10.1% MoM. Its market share dropped from 1.9% to 1.5%.

• Honda recorded 4,489 units, almost flat on a yearly basis with a 0.9% YoY decline, but the brand saw a sharp 20.5% MoM decline. Honda’s market share reduced from 1.4% to 1.1%.

• Renault emerged as one of the strongest YoY gainers in percentage terms. The brand registered 4,217 units in May 2026, compared to 2,472 units in May 2025, marking a strong 70.6% YoY growth. MoM growth was marginal at 0.7%.

• Nissan recorded 2,959 registrations, up 84.4% YoY from 1,605 units in May 2025. However, it declined 7.9% MoM from 3,212 units in April 2026.

• VinFast registered 1,238 units in May 2026. Since it had no registrations in May 2025, YoY comparison is not applicable. Its market share stood at 0.3%.

• BYD recorded 686 units, growing 10.5% YoY and a strong 23.8% MoM. Citroen registered 643 units, up 49.2% YoY, but down 14.4% MoM.

• Jeep continued to struggle with 208 registrations, down 30.9% YoY and 20.0% MoM.

India’s passenger vehicle registrations grew 23.9% YoY in May 2026, with Maruti Suzuki leading the market at 41.6% share.

Auto Punditz Take

May 2026 was a strong month for India’s passenger vehicle registration market from a year-on-year perspective. The industry grew nearly 24% YoY, highlighting healthy retail demand.

The biggest story of the month was clearly Maruti Suzuki’s market share expansion. With 41.6% share, Maruti widened its lead and contributed significantly to the overall industry growth. Tata Motors also delivered a strong YoY performance and improved its share, while Mahindra and Hyundai lost market share despite positive annual growth. Renault and Nissan showed strong growth on a lower base, whereas Jeep, MG, Honda and Skoda-VW remained under pressure.

Overall, May 2026 registration data indicates a market where demand remains healthy, but growth is increasingly concentrated among a few high-performing OEMs.