FX.co ★ India Passenger Vehicle Sales Drop 9.2% in September

Passenger vehicle sales in India experienced a year-on-year decline of 9.2% in September 2025, totaling 312,791 units, as reported by the Society of Indian Automobile Manufacturers (SIAM). This follows a similar 9.0% drop in August. It's important to note that these figures do not account for sales by BMW, Mercedes-Benz, Jaguar Land Rover (JLR), and Volvo. Shailesh Chandra, President of SIAM, remarked that the Government of India's GST 2.0 reform promises to elevate the Indian auto industry significantly. Beyond its impact on the automotive sector, this reform is expected to invigorate the broader economy, given the industry's extensive forward and backward linkages. Despite the GST changes being applicable for just nine days in September, starting from the 22nd, Chandra noted early signs of positive developments. On a month-to-month basis, there was an 11.4% increase in passenger vehicle sales, recovering strongly from a 6.8% dip in August, thanks to the government's reduction in GST rates on vehicles.