Auto wholesales: Passenger Vehicle segment clocks 30% growth in Q2

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All segments of the automobile sector reported double digit growth in Q2 FY2027 (July-September 2026) with Passenger Vehicles (PVs) and Commercial Vehicles (CVs) reporting wholesales growth of nearly 30% year-on-year (YoY) according to auto wholesales data released by the Society of Indian Automobile Manufacturers (SIAM) on Thursday (October 15, 2026).

Passenger Vehicle sales stood at 1.36 million units in Q2 of 2026-27, registering a growth of 30.7% compared to Q2 of 2025-26.

The Utility Vehicle (UV) sub-segment continued to dominate the PV market, accounting for 68% of total PV sales, SIAM data shows.

UV sales grew by 34.2% in Q2 of 2026-27, compared with Q2 of 2025-26. Passenger car sales also recorded a strong double-digit growth rate of 24.9% during the quarter.

“Improved affordability post GST 2.0, lower base of last year, new vehicle technologies including alternate fuels and EVs besides strong financing support have helped impressive growth of passenger vehicles. With rural demand holding and the festive off take being healthy, passenger vehicles sales have registered healthy growth,” SIAM said.

Passenger Vehicle exports stood at 2.29 lakh units in Q2 of 2026-27, representing a decline of 5.2% compared with the same period last year, primarily due to higher base and logistics constraints due to West Asia crisis.

The Two-Wheeler segment posted wholesales of 6.43 million units in Q2 of 2026-27, registering a growth of 15.2% over Q2 of 2025-26.

Two-wheeler growth in Q2 was supported by a low base, improved affordability following GST 2.0, and an emerging replacement cycle across markets with varying penetration levels.

Growth was led by the scooter sub-segment, which grew by 27.7% in the quarter compared with the same period last year, while the motorcycle sub-segment recorded growth of 7.4%.

Two Wheelers recorded their highest ever exports of Q2 in 2026-27, reaching 1.65 million units registering a growth of 27.7% over Q2 of 2025-26.

In Q2 of 2026-27, Three-Wheelers posted sales of 2.85 Lakh units, with a growth of 23.6%.

3W domestic growth was driven by the post-GST reform step-up in ICE three-wheelers, the shift toward higher-quality L5 electric vehicles, and robust growth in the cargo three-wheeler segment across fuel types.

This was supported by increased last-mile mobility demand and the segment’s favourable total cost of ownership.