The domestic passenger vehicle (PV) wholesales (dispatches to dealers) grew by 1.5 per cent year-on-year ( y-o-y) to around 4.25 lakh units in February on the back of continued demand and new launches, as compared to 3.81 lakh units in the same month last year, with companies such as Mahindra & Mahindra (M&M), Tata Motors, and Toyota Kirloskar Motor reporting double-digit growth. Market leader Maruti Suzuki India (MSIL) reported marginal year-on-year growth during the month with sales of 1.61-lakh units in February as compared with 1,60,791 units in the same month last year.
“We are now operating close to more than 100 per cent of our total capacity till our new plants which are expected to be commissioned by April. So, maybe from May onwards, we will be able to furthermore scale our numbers…our network stock is just 12 days now with pending bookings of around 1.90 lakh units, which is up around 20 per cent (from usual months),” Partho Banerjee, Senior Executive Officer, Marketing and Sales, MSIL, told reporters.
When asked about any impact of the war in the West Asia (Iran-Israel), Rahul Bharti, Senior Executive Officer, Corporate Affairs said that the company was “closely monitoring the situation”.
“However, our exposure to the Middle East (West Asia) as an export region is not very high. This year, for example, it accounts for about 12.5 per cent of our total exports. In fact, as we export to nearly 100 countries, we have ensured that our portfolio is well diversified and inherently de-risked…We are not just increasing exports; we are expanding them in a broad-based manner, ensuring that we remain de-risked at the same time,” Bharti added.
Highest sales
Meanwhile, ‘Nexon’ maker Tata Motors also registered one of its highest sales in February to 62,329 units, a jump of 34 per cent y-o-y as compared with 46,435 units in February 2025.
M&M also posted a growth of 19 per cent y-o-y to 60,018 units during the month as compared with 50,420 units in the corresponding month last year.
Hyundai Motor India (HMIL) grew by around 10 per cent y-o-y to 52,407 units during the month as against 47,727 units in February 2025.
“We kicked-off 2026 on a high note achieving our highest-ever monthly sales in January and the momentum continues in February…domestic sales of 52,407 units is also the highest-ever February sales since inception,” Tarun Garg, MD and CEO, HMIL, said.
In the two-wheeler segment, manufacturers including Hero MotoCorp, TVS Motor Company and Royal Enfield, all reported higher double digit growths in February on the yearly basis.
Published on March 1, 2026