Taxis drive rise in car bookings

Carmakers are looking to launch and double down on vehicles which are specifically catered to the taxi segment

- Ayaan Kartik

With a market share of around 72%, Maruti Suzuki dominates the segment.

(HT)

A near-three-fold growth in passenger vehicle registrations as taxis in four years is set to intensify competition among India's carmakers.

According to government's Vahan portal data, vehicles registered for the taxi segment were at around 312,665 in calendar year 2025, a growth of 9% from the year-ago period. In 2022, total registrations in this category were at 114,535. Overall passenger vehicle retail sales grew about one-tenth to 4.4 million units in 2025.

Carmakers are looking to launch and double down on vehicles catered to the taxi segment, with Hyundai Motor India and Vinfast India announcing plans over the last few months of competing with dedicated offerings. With a market share of around 72%, Maruti Suzuki dominates the segment.

"The taxi segment in India has witnessed a remarkable transformation, growing manifold especially over the last five years. This momentum is expected to continue, with the industry poised for further growth in 2026," Tarun Garg, managing director and chief executive at Hyundai Motor India told Mint.