FX.co ★ India Passenger Vehicle Sales Rise 0.8% in May

In May 2025, India's total passenger vehicle sales increased by 0.8% compared to the same month the previous year, reaching 303,099 units, as reported by the Society of Indian Automobile Manufacturers (SIAM). This data does not include sales from BMW, Mercedes-Benz, Jaguar Land Rover (JLR), and Volvo. Although this marks the eighth consecutive month of year-on-year growth for passenger vehicle sales, it represents the slowest growth rate in this streak. "Looking ahead, the Reserve Bank of India’s three cuts to the repo rate, totaling 100 basis points within a span of less than six months, along with predictions of above-normal monsoons, are factors expected to positively influence the automotive sector. These elements should enhance affordability and boost consumer confidence in the coming months," stated Rajesh Menon, Director General of SIAM. Despite the year-on-year growth, there was a 0.2% decline in sales on a monthly basis, following a sharp 7.9% drop in April.