- Automobile sales in September are expected to grow across passenger and commercial vehicles
- Two-wheeler sales to rise driven by strong export growth and favorable GST rate cuts
- Maruti Suzuki and Tata Motors projected to report significant year-on-year passenger vehicle growth
Automobile sales in September are expected to show growth across passenger vehicles (PV) and commercial vehicles (CV), while two-wheelers are likely to benefit from strong export growth. The outlook comes against a favourable base, with the Goods and Services Tax (GST) rate cuts having taken effect from September 22, 2025.
Export growth is also expected to remain strong across segments during the month. However, tractor volumes are likely to decline on a high base.
Two-wheelers: Strong Export Growth Expected
Two-wheeler companies are expected to report healthy year-on-year growth in September, led by higher exports. Bajaj Auto is estimated to report average monthly sales of 4.80 lakh units, up 11.41% year-on-year.
TVS Motor is expected to post sales of 6.13 lakh units, registering 17.07% growth, while Hero MotoCorp's volumes are estimated at 7.02 lakh units, up 2.1% year-on-year. Eicher Motors is expected to report two-wheeler sales of 1.32 lakh units, up 6.44%.
Passenger Vehicles: Strong Growth On Low Base
Passenger vehicle sales are expected to remain strong in September, supported by a low base and high order bookings. Maruti Suzuki is estimated to report sales of 2.38 lakh units, up 25.31% year-on-year.
Mahindra & Mahindra's passenger vehicle volumes are expected at 63,333 units, marking 12.63% growth, while Tata Motors' PV sales are estimated at 66,667 units, up 9.46%. Hyundai Motor India is expected to report sales of 73,333 units, up 4.25% year-on-year.
Commercial vehicles: Growth Momentum Continues
Commercial vehicle sales are expected to maintain their growth momentum in September. Tata Motors' CV volumes are estimated at 44,500 units, up 24.09% year-on-year.
Ashok Leyland is expected to report sales of 22,917 units, representing 21.81% growth, while VE Commercial Vehicles (VECV) is estimated to post volumes of 9,125 units, up 19.77%.
Tractors: Volumes Likely To Decline On High Base
Tractor sales are expected to remain under pressure due to a high base. Mahindra & Mahindra's tractor volumes are estimated at 57,433 units, down 13.13% year-on-year.
Escorts Tractors is expected to report sales of 16,700 units, marking an 8.58% decline from the year-ago period.
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