Passenger Vehicle Registrations up 33.8% in February: JATO Dynamics Report

India's passenger vehicle market recorded strong growth in February 2026, with 413,300 units registered — a 33.8% increase year-on-year — according to JATO Dynamics' latest Retail Market Pulse report. The figure marks a continuation of sustained retail momentum in the country's automotive sector, even as registrations moderated from January's 520,300 units.

The sequential decline from January levels is consistent with seasonal patterns that typically follow a strong start to the calendar year. JATO noted that inventory levels remained stable and buyer sentiment broadly positive during the month.

Maruti Suzuki retained its position as the market leader with 164,930 registrations, a 36.95% year-on-year increase. TATA Motors followed with 60,201 units, representing a 52.37% rise and a 1.8 percentage point gain in market share. Mahindra, Hyundai, and Toyota rounded out the top five with 56,517, 48,671, and 28,012 registrations respectively.

Among other manufacturers, KIA recorded a 37.09% year-on-year gain and VW Group posted 19.91% growth, placing sixth and seventh respectively. Honda, Nissan, and JLR were among the few brands in the top 20 to record year-on-year declines, falling by 4.86%, 0.92%, and 1.36% respectively.

SUVs and compact hatchbacks continued to dominate the segment mix, accounting for 55.4% and 25.2% of total registrations respectively. TATA's Punch and Nexon led the model rankings with 18,594 and 17,106 units sold, followed by the Maruti Suzuki Baleno with 15,139 units. The Hyundai Venue entered the top 10 in ninth place with 11,048 units, displacing the Maruti Suzuki Wagon R, which had ranked second in January.

Petrol-powered vehicles remained the dominant powertrain choice at 54% of all registrations, followed by diesel at 19%. Electric vehicle registrations held steady at 4% of the total market.

Geographically, urban areas accounted for the largest share at 249,994 units, up 37.52% year-on-year. Metro areas followed with 99,700 units (+22.28%). Rural registrations reached 65,637 units, a 39% year-on-year rise, though short of January's 87,640 units.