Record October despatches across PV, two-wheeler, three-wheeler segments on festive demand, GST cut

The Indian automotive industry registered record despatches across passenger vehicle (PV), two-wheeler and three-wheeler segments in October 2025, supported by strong festive demand and the impact of the Goods and Services Tax (GST) rate reduction that became effective late September 2025.

According to data released by the industry body Society of Indian Automobile Manufacturers (SIAM), all three segments posted their highest-ever October wholesales.

The PV segment led the industry's performance with despatches of 4,60,739 units during the month, up 17.2% year-on-year (y-o-y) from 3,93,238 units in the same month last year. This made PVs the fastest-growing category on a high base, with manufacturers pushing stock to dealers to service strong retail demand during Navratri and Diwali festivities.

The two-wheeler wholesales stood at 22,10,727 units, registering a 2.1% y-o-y rise. Growth was driven primarily by scooters, which rose 14.3% to 8,24,003 units. Motorcycles, however, declined 4% y-o-y to 13,35,468 units, reflecting continued softness in rural and commuter-led pockets. Mopeds fell marginally by 2.1% y-o-y to 51,256 units. Despite mixed sub-segment trends, overall two-wheeler despatches still reached their highest-ever levels for the month of October.
The three-wheeler wholesales increased 5.9% y-o-y to 81,288 units. Within this category, the passenger carriers grew 7.6% y-o-y to 67,314 units, and goods carriers rose 2.8% y-o-y to 11,863 units. Electric three-wheeler sub-segments, however, saw a contraction. The e-rickshaw volumes fell 27.2% y-o-y to 1,517 units, while the e-carts dipped 3.4% y-o-y to 594 units.
Commenting on the industry's performance, SIAM Director General Rajesh Menon said, "Passenger vehicle, two and three-wheeler segments posted their highest ever despatches to dealers in October, primarily buoyed by the festive demand and the recent GST rate reduction, despite being constrained due to certain logistic limitations."

"With the reduced GST rates becoming effective from September 22, 2025, October witnessed a strong uptick in vehicle registrations, resulting in a notable rise compared to wholesales," he added.

The production across PVs, two-wheelers, three-wheelers and quadricycles stood at 28,01,412 units in October 2025.