FX.co ★ India Passenger Vehicle Sales Rise 14.1% in March

Passenger vehicle sales in India rose 14.1% year-on-year in March 2026, accelerating from a 10.6% increase in February to reach 376,268 units. This marked the highest annual sales volume recorded in the 2025–26 financial year. According to newly released data from the Society of Indian Automobile Manufacturers (SIAM), this growth was driven by the prolonged impact of last year’s tax policy adjustments and multiple repo rate cuts over the year. Looking ahead to FY 2026–27, robust domestic demand and solid macroeconomic fundamentals are expected to underpin continued steady growth in the sector. At the same time, SIAM cautioned that uncertainties stemming from the conflict in West Asia must be monitored closely, as they could affect production, commodity and fuel prices, freight rates, and the broader economy.