SUV, MPV Sales Cross 3 Million for the First Time in FY2026, UV Share of PVs Jumps to 67%

If India’s passenger vehicle industry achieved its best-ever fiscal year wholesales of 4.64 million units in FY2026, then the credit once again goes to the utility vehicle (UV) segment. The UV sub-segment, which comprises SUVs and MPVs, continues to be the shining star of the Indian PV industry, even as demand returned to the hatchback and sedan segment (1.37 million units, up 2% YoY) compared to FY2025 when passenger car sales were down 12 percent. 

The UV segment, which comprises 16 SIAM member companies, was on a roll in FY2026, thanks to the firepower provided by GST 2.0 from October 2025 onwards. While H1 FY2026 saw sales of 1.35 million UVs, up 1% YoY, H2 FY2026 clocked UV dispatches of 1.75 million units, up 20% YoY. 

With record wholesales (factory dispatches) of 31,05,025 units last year, UV wholesales rose 11% YoY on a high base (FY2025: 27,97,229 units), which translates into an additional 307,796 units. To put the math and the UV segment’s growth into perspective, FY2026 saw 8,506 SUVs and MPVs sold each day!

That’s not all. . . because the UV segment surpassed the 3 million wholesales milestone in the domestic market for the first time and saw its share of the overall passenger vehicle market (cars, UVs and vans) increase to a new high of 67%, improving upon the 65% in FY2025 and 60% in FY2024. And the FY2026 UV share is a 16% jump over the 51% share in FY2023 (see 12-year PV and UV sales data table below). 

SUV and MPV sales rose to a new high of 3.10 million units in FY2026 with the UV share of the Indian passenger vehicle market nearly doubling to 67% in a span of just six years. 

What’s common to the past four fiscal years is the surging demand for utility vehicles (UVs), primarily SUVs. Having raced past the 2-million mark for the first time in FY2023 (2.03 million units), sales only got better in FY2024 (2.52 million units) and FY2025 (2.79 million units). Interestingly, the UV sales of 3.10 million units in FY2026 are 57,443 units more than the entire PV sales of 3.04 million units in FY2017 when the UV share was 25% (761,998 UVs).

Maruti Remains UV Leader but M&M, Tata, Toyota & Kia Increase Market Share

Of the cars, vans and UV sub-segments in the overall PV segment, UVs remains the most competitive. Every OEM worth its wheel is fighting for a share and slice of the mega action, with the battle for supremacy highest in the compact SUV and midsize SUV categories. These two sub-segments are also where the Top 20 best-selling models reside.

The UV arena is a tough one, what with 32 SUV and MPV manufacturers (including the 16 SIAM member OEMs with 75 models and the luxury OEMs), nearly 130 individual models and over 1,000 variants. 

The Top 6 OEMs (2.91 million units), accounted for 94% of the 3.10 million UVs in FY2026. While Maruti and Hyundai saw their UV share fall, Mahindra, Tata Motors, Toyota and Kia posted gains.

Of the Top 6 players’ UV portfolio, Mahindra leads with 13 SUVs, followed by Maruti and Toyota with nine UVs each. While Kia has seven, Tata Motors has six with the recent addition of the Sierra, and Hyundai has five SUVs. Given the ongoing transition to electric mobility, which has picked up pace in FY2026 with a record 199,590 units, Tata Motors, JSW MG Motor, Mahindra & Mahindra, Hyundai, Kia and Maruti Suzuki already have electric vehicles in their UV stable, while Toyota India is slated to launch the Urban Cruiser e-Bella soon. 

India’s Top 6 PV OEMs in FY2026 – Maruti Suzuki (1.82 million PVs, up 4%), Mahindra & Mahindra (660,276 PVs/SUVs, up 20%), Tata Motors (651,261 PVs, up 14%), Hyundai Motor India (584,906 PVs), Toyota Kirloskar Motor (366,896 PVs, up 19%) and Kia India (289,035 PVs/UVs, up 13%) – have benefited from having a strong UV/SUV portfolio. And, Skoda Auto India (75,556 PVs, up 68%), as a result of the strong demand for Kylaq compact SUV, is the new No. 7 UV OEM in FY2026. 

For overall UV sales in FY2026, Maruti Suzuki (760,097 units, up 6%) holds onto its No. 1 UV OEM title for the ninth year in a row. The company, which accounted for a market-leading 24.50% share of the 3.10 million UV sales in FY2026, however saw its UV share reduce to 24.50% from 26% in FY2025 because of the higher growth rate displayed by Mahindra & Mahindra and Tata Motors. 

M&M (660,276 units, up 20% and 21% UV share) maintains its No. 2 rank as does third-ranked Tata Motors (498,052 UVs, up 15% and 16% UV share). Hyundai Motor India (399,569 units, down 3% and 13% UV share) is followed by a resurgent Toyota Kirloskar Motor (312,007 units, up 21% and 10% UV share). Kia India (289,035 units, up 13% and 9% UV share) is ranked sixth. Skoda India, as a result of the Kylaq compact SUV selling 49,089 units and accounting for 80% of the company’s total UV sales of 61,073 units, has risen one rank from FY2025 to No. 7 in FY2026.  

With a record 14,73,422 units sold in FY2026 and a 47% share of the record 3.10 million UVs, the compact SUV segment remains the largest sub-segment but there’s growing demand for midsize SUVs which are set to come into their own in FY2027 what with some new models launched in H2 FY2026. From the return of the Renault Duster, which has already given a fresh charge to the company in its first month, to the Tata Sierra with sales of over 23,000 units in 3 months, and the upcoming Nissan Tekton, the new fiscal promises to be an exciting one for India’s booming utility vehicle market. 

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