The latest data released by the Society of Indian Automobile Manufacturers (SIAM) show that the Indian automotive industry wrapped up FY 2024-25 with a solid performance, driven by resilient domestic demand, an uptick in exports, and a renewed push toward green mobility.

While the pace of growth varied across segments, the industry overall clocked a healthy 7.3 percent increase in domestic sales, reinforcing its steady recovery trajectory in a post-pandemic economy.

The passenger vehicles segment posted its highest-ever annual sales, breaching the 4.3 million mark – a 2 percent rise over the previous year. Although the high base of FY 2023–24 tempered the growth rate, the segment continued to impress with its scale.

SUVs emerged as the dominant sub-segment, accounting for 65 percent of total PV sales, up from 60 percent last year.

The market responded enthusiastically to new launches and customer demand towards higher ground clearance models. It is also important to note that discounts and promotions kept demand buoyant.

On the exports front, a record 770,000 units were shipped, up 14.6 percent, fuelled by demand from Latin America, Africa and emerging interest from developed markets.

India’s ubiquitous two-wheelers rebounded strongly with 19.6 million units sold, marking a 9.1 percent growth over the previous year. The scooter category led the charge, boosted by improved rural and semi-urban road connectivity.

EV penetration crossed 6 percent, reflecting a growing preference for sustainable options.

Two-wheeler exports rose by 21.4 percent, supported by macroeconomic stability in Africa and expansion into Latin American markets.

The three-wheeler segment on the other hand scaled new highs with 741,420 units sold, a 6.7 percent growth over FY 2023–24. Urban and semi-urban demand for last-mile transport, especially electric models seem to have played a key role.

The commercial vehicles segment posted a slight 1.2 percent decline in annual sales, though Q4 offered a glimmer of hope with a 1.5 percent uptick. Light CVs struggled, while Medium & Heavy CVs (M&HCVs) remained steady. Infrastructure development spurred demand for buses and higher-GVW trucks.

CV exports jumped by 23 percent, indicating global recovery in freight mobility.

In terms of EV sales, the country saw 1.97 million green vehicles sold, up 16.9 percent, with electric two-wheelers seeing a 21.2 percent rise in registrations.

Looking Ahead: Optimism with Caution

The industry body stated that going forward leaders are cautiously optimistic about FY 2025–26. Normal monsoon forecasts are expected to aid rural demand. Recent personal income tax reforms and RBI rate cuts could boost vehicle financing and overall consumer sentiment. Continued export momentum, especially in Africa and neighbouring regions, will offer strategic resilience.

But on the other hand, challenges loom in the form of global geopolitical tensions and evolving supply chain dynamics.

Shailesh Chandra, President, SIAM, said, “The Indian automobile industry continued its steady performance in FY2024–25, driven by healthy demand, infrastructure investments, supportive government policies and continued emphasis on sustainable mobility. Passenger vehicles, two-wheelers and three-wheelers grew in FY2024-25 compared to FY2023-24, but growth rates have been varied across segments. Passenger vehicles and three-wheelers witnessed a moderate growth on account of the high base effect but saw the highest-ever sales in these categories, while the two-wheeler segment registered strong growth in FY2024-25. However, commercial vehicles witnessed a slight degrowth in the FY2024-25, though performance in recent months has been comparatively better. On the exports front, good recovery is seen across all segments, particularly passenger vehicles and two-wheelers reflecting improved global demand and India's growing competitiveness. In FY2024-25, the government of India introduced the PM E DRIVE scheme and PM e-Sewa schemes which underscores the firm commitment of the Government towards promoting sustainable mobility. Looking ahead, the backdrop of stable policy environment, along with recent measures such as reforms in personal income tax and RBI’s rate cuts, will help in supporting consumer confidence and demand across segments.

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BYD, the world’s leading manufacturer of New Energy Vehicles, will once again serve as the headline sponsor for the British Vehicle Rental and Leasing Association (BVRLA) Annual Dinner in 2026. This marks the third consecutive year the company has supported the prestigious event, which is set to take place on 4 March 2026 at the JW Marriott Grosvenor House Hotel on Park Lane, London. The dinner is widely recognised as the premier gathering for professionals across the rental, fleet management and leasing sectors.

Through its ongoing sponsorship since 2024, BYD reaffirms its commitment to this vital segment of the UK automotive market. The company’s expanding presence was underscored in 2025 by the introduction of several new models, including the SEALION 7, DOLPHIN SURF, SEAL 6 Saloon and Touring and the ATTO 2. These launches contributed to significant sales figures, with 21,824 units delivered to fleet customers and 5,964 to the rental sector. The momentum has continued into 2026 with the debut of the SEALION 5 DM-i, while the ATTO 2 DM-i and ATTO 3 EVO are expected to arrive shortly. Supporting this growth is a dedicated UK fleet team of 11 specialists, offering tailored product and service expertise.

The BVRLA represents around 1,000 member organisations, ranging from SMEs to large public companies, all operating within or alongside the UK’s vehicle rental and leasing industries. By engaging with government and upholding professional standards, the association enables its members to provide safe, sustainable and accessible transport solutions. This year’s Annual Dinner will feature the presentation of the Industry Hero Awards and live entertainment from award-winning comedian Tom Ward, celebrating excellence across the sector.

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The Society of Indian Automobile Manufacturers (SIAM) convened the 7th SIAM CSR Conclave in New Delhi, themed ‘CSR Partnerships – From Shared Vision to Shared Value’. The event brought together industry leaders, CSR practitioners, policymakers, NGOs and development experts to explore collaborative models for driving inclusive growth and national development.

The inaugural session, titled ‘CSR as National Development Catalyst - Building the Nation, Responsibly’, featured key dignitaries who set the tone for discussions on sustainable nation-building. Prashant K Banerjee, Executive Director of SIAM, welcomed attendees and highlighted the automobile industry's extensive national presence, emphasising its responsibility to engage communities sustainably. He linked industry efforts to the Viksit Bharat 2047 vision, noting that businesses must look beyond sectoral growth to include social development across the country. The session included a screening of SIAM CSR initiatives and the release of the SIAM CSR Compendium, showcasing member companies' key projects.

Guest of Honour Dr Bhaskar Chatterjee, IAS (Retd.), Director General & CEO of the Indian Institute of Corporate Affairs, traced CSR's evolution from charity to statutory obligation, calling for CSR 2.0 with fresh thinking, technology adoption like AI for verifiable data, third-party evaluation and professionalisation. He urged the automobile sector to prioritise waste management, process re-engineering and carbon capture, insisting that CSR must move from the backroom to the boardroom with robust governance.

Puneet Anand, Chairman of the SIAM CSR & Community Services Group and Associate Vice President & Vertical Head at Hyundai Motor India Ltd., noted India's pioneering CSR legislation has mobilised nearly INR 2.2 trillion from about 800 organisations. He stressed the need to move beyond the statutory two percent threshold towards measurable outcomes, skill development, community resilience and replicable district-level models through collaboration.

Other contributors to the session included Prabhakant Jain, CSR Head of D S Group; Yashpal Sachar, Vice President (Corporate Affairs) at Ashok Leyland Ltd.; Tarun Agarwal, Sr Vice President & Head-CSR at Maruti Suzuki India Ltd. and Sulekha Kaul, Partner at Vaish & Associates Advocates, who shared insights on impactful CSR models.

Rajeev Taneja, Co-Chair of the SIAM CSR & Community Services Group and Vertical Head – CSR Operation at Honda Motorcycle & Scooter India Ltd., delivered closing remarks, emphasising CSR's centrality to inclusive growth. He called for evolution from compliance to conviction, with intentional, measurable collaboration focused on empathy, dignity and tangible change, supported by transparency and alignment with national priorities.

A thematic session on ‘Educational and Corporate Outreach towards CSR Pillars’ was moderated by Anuj Guglani, Founder & CEO of WAF Group, addressing environmental rejuvenation, road safety, education, health, sanitation and skills development. Session Chairman Rajendra Raut, Co-Chair of the SIAM CSR & Community Services Group and Director (Corporate & Govt. Affairs) at JSW MG Motor India, identified education as the enabling force strengthening all CSR pillars, advocating for partnership and co-creation over donor-recipient approaches. Presentations followed from Sanchita Vaish, Lead Specialist-Global Entity Governance & CSR Lead (India) at Baker Hughes; Praveen Karn, Group Head Sustainability & CSR at Minda Group; Dr Veenu Shankar, Assistant Professor at Delhi Technological University; Anjali Makhija, CEO of S. M. Sehgal Foundation and Dr Chitra, CEO of Indian Head Injury Foundation.

A panel discussion on ‘NGO & Corporate Perspective on Successful Collaboration Models towards CSR Execution’ was moderated by Mugdha Mishra, Editor of Auto Media Strategy at Autocar India. Panellists included Arindam Lahiri, CEO of ASDC; Rahul Bansal, Head of Private & Public Sector Partnerships at UNICEF; Shailendra Singh, Director of Dhartie Warriors Foundation; Pritika Chand, Corporate Head at Jindal Stainless; Prabhu Nagaraj, Head – Corporate Affairs at Honda Motorcycle & Scooter India Pvt. Ltd. and Co-Chairman of the SIAM Skilling Group; Ajay Bhatt, Head-Comm., Ex. Affairs, Sustainability & CSR at Škoda Auto Volkswagen India Pvt. Ltd.; Saurabh Sharma, Head CSR & ESG at Hyundai Motor India Ltd. and Runa Ahlawat, General Manager at JSW MG Motor India. They emphasised collaboration's importance in CSR execution.

The day's highlight was a Fireside Chat on ‘CSR Partnerships – From Shared Vision to Shared Value’, moderated by Mugdha Mishra, where Guest of Honour Dr Bhaskar Chatterjee reiterated the need for sustainability practices like waste management, process re-engineering and carbon capture in the automobile industry.

The conclave concluded with an Award Ceremony recognising outstanding CSR contributions. Puneet Anand delivered opening remarks. SIAM CSR awards were distributed by dignitaries including Dr Bhaskar Chatterjee; Alok Jaitley, President – SAFE & EVP at Maruti Suzuki India Ltd.; Puneet Anand; Rajeev Taneja; Rajendra Raut; Rajesh Menon, Director General of SIAM and Prashant K Banerjee. Awards under Skill Enhancement and Education went to Kedman Skilled India Foundation (Honda) and Centum Foundation (Mahindra & Mahindra). Healthcare & Sanitation awards were presented to Karma Healthcare Trust (Hyundai) and Sparsha Trust (Toyota). Road Safety awards recognised Learning Links Foundation (Ashok Leyland) and The TSL Foundation (Mahindra & Mahindra). Environmental Rejuvenation awards honoured Mahabodhi International Meditation Centre (Škoda Auto Volkswagen) and NAAM Foundation (TATA Motors).

The conclave reaffirmed SIAM's commitment to collaborating with governments, industry leaders and stakeholders to advance sustainable mobility and contribute to India's Sustainable Development Goals by 2030, aligned with its mission of building the nation responsibly.

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Antolin, a supplier of automotive interior technology, has announced the appointment of Emma Antolín Granet as its Executive Chair. The Board of Directors also appointed Ernesto Antolin Calzada as Vice-Chairman.

Ernesto Antolín Arribas steps down as chairman after 10 years to focus on the company's institutional affairs and representation. The leadership transition coincides with the development of a strategic plan focused on the company's financial position, margin improvement and cash generation.

The board indicated that the new strategy will build upon the current Transformation Plan. The primary objectives involve reinforcing the balance sheet and accelerating value creation through its three business units: Headliners, Cockpit & Door Systems, and Technology Solutions.

Antolin operates 111 factories in 23 countries and employs 20,000 people. The company reported revenue of EUR 4.19 billion in 2024.

Granet previously served as Vice-Chair and a Member of the Audit and Nominations committees. She holds an MBA and a Master’s in Financial Management from IE University, with further studies from Cambridge and Harvard Business School.

Ernesto Antolín Calzada joins the board after holding roles in project management and industrial operations at Antolin. His background includes experience in the financial department of Telefónica and in mergers and acquisitions at a law firm in London.

Emma Antolin, stated, "I am grateful for the confidence placed in me by the Board of Directors and I take on these new responsibilities with great determination. Over the past several years I have witnessed firsthand the strength of this Company and the talent of our people. My priority is to continue consolidating our market leadership position and delivering sustainable, long-term growth. I would also like to thank Ernesto Antolín for his work, strong commitment and dedication during the past years at the helm of the Company."

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Maruti Suzuki India Limited has achieved a significant milestone in sustainable logistics by securing international recognition for its Gujarat-based in-plant railway siding. This initiative has been officially registered as the world’s first Modal Shift Transportation Project under Verra’s Verified Carbon Standard (VCS) programme. By transitioning vehicle dispatches from road to rail – a considerably more efficient and environmentally friendly mode of transport – the company is establishing a new benchmark in the sector.

The project is estimated to generate approximately 170,000 carbon credits over a 10-year period, spanning from the fiscal year 2023–24 to 2032–33. These emission reductions were calculated using the AM0090 methodology, which aligns with the Clean Development Mechanism of the United Nations Framework Convention on Climate Change. Following a rigorous independent verification of the carbon savings, Verra will officially issue the credits to Maruti Suzuki under its VCS programme.

Beyond its environmental impact, this initiative supports several United Nations Sustainable Development Goals. It notably contributes to Good Health and Well-being (SDG 3), fosters Decent Work and Economic Growth (SDG 8) and takes concrete action on Climate Change (SDG 13), demonstrating a comprehensive approach to sustainable development.

Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki India Limited, said, “This is a proud moment for Maruti Suzuki as our Gujarat in-plant railway siding is recognised as the world’s first Verra-registered Modal Shift in Transportation project. By transitioning vehicle movement from road to rail, the project demonstrates how scale, operational efficiency and environmental responsibility can seamlessly go hand in hand. Leveraging the inherent efficiency of rail transport, the Gujarat in-plant railway siding has significantly reduced the carbon footprint of our logistics operations while also easing road congestion and lowering overall fossil fuel consumption. We are honoured by the recognition from Verra. This milestone marks a significant step forward in our sustainability journey and reinforces our commitment to setting industry benchmarks that align with India’s strong steps towards net zero emissions.”

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