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Auto Sales Accelerate: PVs Up 10%, Two-Wheelers Surge 30% in Feb

Passenger vehicle sales in India are projected to grow by over 10% year-on-year in February, supported by better affordability and new model launches. The two-wheeler segment is expected to see even stronger growth, with domestic volumes surging over 30% YoY. Exports across segments are also forecast to post double-digit growth, fueled by demand from Asia, Africa, and Latin America. Nuvama's report maintains a constructive outlook for the sector, anticipating healthy growth momentum through FY28.

Key Points: India Auto Sales See Double-Digit Growth in February

  • Passenger vehicle sales up over 10% YoY
  • Two-wheeler domestic volumes surge over 30%
  • Growth driven by affordability and new products
  • Exports to contribute with double-digit growth
2 min read

Passenger vehicle sales likely surge 10% YoY in Feb, overall auto sales to see double-digit growth: Nuvama

Passenger vehicle sales rise over 10% YoY, while two-wheeler volumes surge over 30%, driven by affordability and new products, reports Nuvama.

"PV industry volumes likely to rise in teens in Feb-26 (over 10 per cent YoY in domestic market) - Nuvama Report"

New Delhi, February 26

Passenger vehicle sales in India are likely to rise in the teens in February, with domestic volumes expected to grow by over 10 per cent year-on-year, supporting overall automobile sales growth across segments, according to a report by Nuvama.

The report highlighted that the growth in passenger vehicle volumes is likely to be driven by better affordability, the launch of new products, and adequate availability of financing. Improved customer sentiment and favourable market conditions are also expected to contribute to higher demand in the segment.

It stated, "PV industry volumes likely to rise in teens in Feb-26 (over 10 per cent YoY in domestic market) supported by better affordability, new products and adequate financing availability".

Overall, automobile wholesales in February 2026 are expected to remain robust, with double-digit year-on-year growth likely across segments.

The report noted that sales volumes are expected to be supported by continued positive customer sentiment, improved affordability, new product offerings, adequate finance availability, and inventory build-up with dealers.

The two-wheeler segment is expected to witness particularly strong growth during the month. According to the report, two-wheeler industry volumes are likely to grow in robust double digits in February 2026, with domestic volumes projected to rise by over 30 per cent year-on-year.

This strong performance in the two-wheeler segment is expected to be driven by positive customer sentiment, improved affordability, and increased demand during the marriage season. Adequate financing availability is also expected to support higher sales volumes.

In addition to domestic growth, exports are expected to remain a key contributor to overall automobile sales growth. The report forecast that two-wheeler exports would increase in double digits, supported by rising demand from markets in Asia, Africa, and Latin America.

The report further noted that exports across automobile segments are likely to remain positive, contributing to overall sales momentum.

Nuvama maintained a constructive outlook on the automobile sector, highlighting healthy growth prospects over the medium term.

The report stated that robust demand conditions, improving affordability, adequate financing availability, and strong export opportunities are expected to support automobile sales growth over FY26-28E.

So the report outlined that the automobile sector is expected to continue its growth momentum, supported by strong domestic demand, export growth, and favourable market conditions.

- ANI

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Reader Comments

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Priyanka N
While the numbers look good, I hope this isn't just pushing more loans onto people. "Adequate financing availability" sounds great, but we must ensure people aren't over-leveraging themselves just to buy a vehicle. Responsible lending is key.
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Aman W
Over 30% growth in two-wheelers is massive! 🛵 It shows the aspirational India is still very much alive. Better affordability and new electric models must be driving this. Good to see exports picking up too. Make in India for the world!
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Sarah B
Interesting data point. I'm curious about the breakdown between ICE and electric vehicles in this growth. The report mentions new products – are these largely EVs? The future is electric, and India's growth needs to be green.
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Vikram M
Positive sentiment is one thing, but in my tier-2 city, traffic is becoming a nightmare. Every family wants a second car now. Growth is good, but our infrastructure needs to keep pace. More focus on public transport please!
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Kavya N
As someone who just bought a new car last month, I can confirm the financing was very smooth and there were good offers. The showroom was much busier than I expected. Looks like the report is spot on about the market mood.

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