FX.co ★ India Passenger Vehicle Sales Hit Record February High

Passenger vehicle sales in India rose 10.6% year-on-year in February 2026, up from an 8.0% increase in January and setting a new record for the month at approximately 418,000 units. According to fresh data from the Society of Indian Automobile Manufacturers (SIAM), the pickup in sales was driven by the prolonged impact of last year’s tax policy changes and robust festive-season demand. Looking ahead, sales in March may continue to benefit from festival-related purchases in several regions of the country. However, the ongoing conflict in West Asia remains a major concern, particularly for supply chains, and could disrupt both manufacturing and export activity. “The industry will keep a close watch on evolving geopolitical developments,” said Rajesh Menon, Director General of SIAM.