GST rate cut revs up car sales: FM

New Delhi: India’s passenger vehicle (PV) industry achieved its highest-ever monthly sales in October 2025, boosted by the recent GST rate rationalisation and strong festive season demand, according to industry data shared by Union Finance Minister Nirmala Sitharaman on Sunday. PV wholesales in the domestic market rose 17.23 per cent year-on-year (YoY) to 4,70,227 units in October 2025, compared to 4,01,105 units in the same month last year.

“The PV industry in India reached a record high in terms of volumes in October, fuelled by the GST rate rationalisation and robust festive demand, as several carmakers recorded their highest-ever monthly wholesales,” FM Sitharaman said in a post on social media platform X. This marks the best-ever monthly performance for the Indian car market, surpassing the previous record of 4,05,522 units set in January 2025. “This was the best-ever domestic monthly volumes, beating the previous record of 4,05,522 units in January 2025,” the Finance Minister added.