FX.co ★ Indian Passenger Car Sales Rise 8% in January

Total passenger vehicle sales in India rose 8% year-on-year to 379,394 units in January 2026, following a 29% surge in the previous month, according to data from the Society of Indian Automobile Manufacturers (SIAM). The figures exclude sales by BMW, Mercedes-Benz, Jaguar Land Rover (JLR), and Volvo.

The increase was underpinned by sustained demand after the reduction in GST rates. “The initiatives announced in the Union Budget 2026 to strengthen India’s manufacturing base, along with existing policy tailwinds, are expected to deliver long-term benefits for the sector and support growth in the medium term,” said Rajesh Menon, Director General of SIAM.

On a month-on-month basis, however, passenger vehicle sales declined 15.6% in January, deepening from a 1.6% fall in December.