PV dispatches up 20.6% in Q3 on strong UV demand

India’s passenger vehicle (PV) industry has achieved a rare feat — witnessing the strongest-ever performance in calendar year 2025 as well as in Q3FY26.

- SOHINI DAS

This was owing to a decisive recovery in consumer demand aided by policy support, improved affordability and festival led buying momentum.

According to data released by the Society of Indian Automobile Manufacturers (Siam), PV domestic wholesales in October-December 2025 rose to an all-time high of 1.27 million units, a 20.6 per cent growth over the same quarter last year. This made Q3 the highest-selling quarter for PVs, driven by strong traction across utility vehicles (UVs), passenger cars and vans during the festival season. The robust third-quarter performance also lifted calendar-year volumes to a new peak.

PV dispatches during January-December 2025 stood at 4.49 million units, up 5 per cent year-on-year (Yo-Y), with Q3 accounting for a disproportionately large share of the annual off-take.

Commenting on the calendar year 2025 performance, Siam president Shailesh Chandra said the year turned out to be a “landmark year for the Indian automobile industry,” despite a subdued first half and ongoing supply-side challenges.