The Federation of Automobile Dealers Associations (FADA) Released "Vehicle Retail Data For November 2025"

Auto-Retail November 2025: Resilience Beyond Festive Peaks

November’25 Retail Performance
· Overall Retail: +2.14% YoY (despite a high-base comparison)
· 2W: –3.1% | PV: +19.7% | CV: +19.94% | 3W: +23.67% | Trac: +56.55% | CE: –16.5%
· PV Inventory: 44–46 days (improved vs 53–55 days)

Context & Demand Drivers
· Post-festive moderation defied as demand sustained beyond seasonal expectations
· Festive deliveries were in October’25, unlike Nov’24 which recorded registrations post-Diwali, creating an elevated comparison base
· GST 2.0 cuts + OEM–Dealer offers continued to pull customers to showrooms
· Price reductions across categories sustained momentum that began in October
· Dealers reported strong walk-ins, healthy enquiry pipelines & marriage season purchase activity

Segment Highlights
· 2W: Marginal decline due to retail shift to Oct & supply constraints; demand supported by GST sentiment, EV traction & rural enquiries
· PV: Strong growth driven by model availability, compact SUV push & year-end deals; inventory sharply corrected
· CV: Supported by infrastructure works, tourism mobility & tenders; utilisation uneven in pockets

Near-Term Outlook
· Positive rural indicators with rabi sowing crossing 39.3 mh (+sharply vs last year) signalling stronger farm-income visibility
· Colder-than-normal winter forecast expected to boost mobility & logistics activity
· Early signs of rural consumption revival across FMCG, tractors & 2W
· GST 2.0 reforms + sustained consumer schemes expected to maintain demand through December
· Industry sentiment for December marked by “cautious optimism”

Next 3 Months Outlook
· 74% of dealers expect growth
· Strong enquiry pipelines, CY 2026 launches, marriage season demand & crop realisation liquidity to support momentum
· Driven by the Government’s ‘One Nation, One Tax’ and ‘Viksit Bharat 2047’ vision enabling affordable mobility expansion
· Temporary moderation possible due to model-year change & absence of festive triggers
· Industry enters 2026 on a foundation of cautious yet robust optimism, moving towards a resilient, inclusive & future-ready auto retail ecosystem

The Federation of Automobile Dealers Associations (FADA) released "Vehicle Retail Data for November 2025".

November’25 Auto Retail

Reflecting on November 2025 Auto Retail performance, FADA President Mr. C S Vigneshwar said: “November’25 defied the conventional post-festive slowdown, delivering a resilient performance despite an unusually high comparative base. Traditionally, auto retail eases in the month following the festival cycle; however, this year, most festive registrations were completed in October’25 itself, unlike November’24, when Deepawali and Dhanteras fell in towards the end of October’24, and vehicle registrations happened in November’24 which lifted volumes significantly. Even with this shift, the industry closed November’25 at a YoY growth of 2.14%, reaffirming customer confidence and the structural strength of India’s auto retail market. GST rate cuts coupled with OEM-Dealer retail offers continued pulling customers to showrooms, enabling sustained footfalls beyond the festive period. Price reductions across categories, which ignited strong buying in October, continued to support conversions in November as well.

Two-Wheelers, while reporting a modest 3.1% YoY decline, must be viewed in context. A significant retail shift occurred due to festive buying in October, combined with delayed crop payments and uneven supply of preferred models. Encouragingly, dealers continue to report strong walk-ins linked to GST sentiment and healthy marriage season demand.

Passenger Vehicles registered 19.7% YoY growth, aided by GST benefits, marriage season demand, better supply of high-waiting models, and sustained push from compact SUVs. Inventory thus reduced sharply to 44-46 days, down from 53-55 days, marking healthier demand-supply discipline.

Commercial Vehicles grew 19.94% YoY, supported by select infrastructure activities, freight movement, tourism mobility, government tender cycles and GST reforms, although fleet utilisation remains uneven in select markets.”

Near-Term Outlook

The near-term outlook is supported by improving rural sentiment and favourable macro indicators as there is a strong start to the rabi season, with sowing crossing 39.3 million hectares, significantly ahead of last year, driven by robust soil moisture conditions, better seed availability, and supportive MSP signals. Wheat, pulses, and oilseeds have recorded sharp acreage expansion, signalling improved farm income prospects. Simultaneously, the IMD’s forecast of a colder-than-normal winter across the northern and central plains is expected to boost mobility needs and logistics activity. There are good signs of volume recovery across FMCG, tractors, and rural two-wheeler markets. These developments, along with GST 2.0 rate cuts and sustained OEM–Dealer offers, are expected to support demand continuity into December.

Dealers highlight confidence driven by improved enquiry pipelines, marriage season purchases, better stock availability, rural crop realisation-linked liquidity, and expected year-end consumer schemes. While some dealers expect softness in urban premium segments, the broader market tone remains measured yet optimistic, with year-end schemes, anticipated January price revisions, and stock liquidation goals expected to support retail traction.

Overall, industry sentiment for December can best be characterised as “cautious optimism” — a phase where the sector consolidates gains from the GST-led affordability shift and two strong months of retail performance, while remaining watchful of calendar-year dynamics and supply alignment. With improving rural fundamentals, supportive liquidity, and robust enquiry flow, the industry is positioned to close the year with stable to positive momentum.

Next 3 Months Outlook

The outlook for India’s auto retail over the next 3 months remains firmly positive, supported by sustained momentum from GST 2.0 tax rationalisation, strong enquiry pipelines, and improving rural economic indicators as 74% of dealers expect growth underscoring broad-based confidence across segments. Expected price increases in January, new model launches for 2026, and marriage season demand are set to drive conversions, while crop realisation liquidity is expected to reinforce retail traction across Bharat. The government’s ‘One Nation, One Tax’ and ‘Viksit Bharat 2047’ mobility vision continue to strengthen affordability and expand vehicle penetration in emerging markets.

While natural moderation may occur due to model-year change sentiment and the absence of festive triggers in Jan–Feb, the sector’s trajectory remains moderate, powered by stable macro fundamentals, improving farm income visibility, and confidence from both OEMs and Dealers. Entering 2026, India’s auto retail ecosystem stands on a foundation of cautious yet robust optimism, poised to consolidate recent gains and accelerate towards a more resilient, inclusive, and future-ready mobility landscape.

Key Findings from our Online Members Survey

• Liquidity

• Neutral          47.14%

• Good              44.29%

• Bad                 08.57%

 

• Sentiment

• Good              54.29%

• Neutral          39.29%

• Bad                 06.43%

 

• Expectation from December’25

• Growth           63.93%

• Flat                 30.36%

• De-growth     05.71%

  

• Expectation in next 3 months

• Growth           74.29%

• Flat                 21.79%

• De-growth     03.93%

Charts showing Vehicle Retail Data for various period

All India Vehicle Retail Data for FY’26 YTD (Apr’25 to Nov’25)

CATEGORY	YTD FY'26	YTD FY'25	Growth %
2W	1,45,54,592	1,32,76,920	9.62%
3W	8,81,695	8,26,444	6.69%
CV	6,82,977	6,38,584	6.95%
CE	44,424	49,770	-10.74%
PV	29,10,945	26,92,614	8.11%
TRAC	6,48,622	5,50,558	17.81%
Total	1,97,23,255	1,80,34,890	9.36%

  

All India Vehicle Retail Data for Nov’25

CATEGORY	Nov'25	Oct'25	Nov'24	MoM%	YoY%
2W	25,46,184	31,49,846	26,27,617	-19.16%	-3.10%
3W	1,33,951	1,29,517	1,08,317	3.42%	23.67%
E-RICKSHAW(P)	48,839	37,117	40,369	31.58%	20.98%
E-RICKSHAW WITH CART (G)	8,160	6,979	5,425	16.92%	50.41%
THREE-WHEELER (GOODS)	13,355	15,239	10,960	-12.36%	21.85%
THREE-WHEELER (PASSENGER)	63,451	69,937	51,482	-9.27%	23.25%
THREE-WHEELER (PERSONAL)	146	245	81	-40.41%	80.25%
PV	3,94,152	5,54,228	3,29,253	-28.88%	19.71%
TRAC	1,26,033	73,577	80,507	71.29%	56.55%
CE	5,577	5,769	6,680	-3.33%	-16.51%
CV	94,935	1,10,986	79,152	-14.46%	19.94%
LCV	58,968	75,959	49,743	-22.37%	18.55%
MCV	7,234	7,246	4,978	-0.17%	45.32%
HCV	28,659	27,750	24,367	3.28%	17.61%
Others	74	31	64	138.71%	15.63%
Total	33,00,832	40,23,923	32,31,526	-17.97%	2.14%

Source: FADA Research

 

Chart showing Fuel Wise Vehicle Retail Market Share for Nov’25

 

Two-Wheeler	Nov'25	Oct'25	Nov'24		Construction Equipment	Nov'25	Oct'25	Nov'24
PETROL/ETHANOL	95.30%	95.31%	94.97%		Diesel	100%	99.91%	99.97%
EV	4.594%	4.57%	4.57%		CNG/LPG	0.0%	0.03%	0.01%
CNG/LPG	0.11%	0.12%	0.46%		PETROL/ETHANOL	0.0%	0.05%	0.01%
Total	100%	100%	100%		Total	100%	100%	100%
Three-Wheeler	Nov'25	Oct'25	Nov'24		Commercial Vehicle	Nov'25	Oct'25	Nov'24
EV	62.49%	54.51%	58.53%		Diesel	81.92%	81.44%	82.63%
CNG/LPG	24.71%	30.18%	28.50%		CNG/LPG	11.74%	12.46%	10.95%
DIESEL	12.44%	15.05%	12.46%		PETROL/ETHANOL	4.44%	4.42%	5.62%
PETROL/ETHANOL	0.36%	0.26%	0.50%		EV	1.79%	1.60%	0.71%
Total	100%	100%	100%		HYBRID	0.11%	0.08%	0.10%
					Total	100%	100%	100%
Passenger Vehicle	Nov'25	Oct'25	Nov'24		Tractor	Nov'25	Oct'25	Nov'24
PETROL/ETHANOL	52.99%	51.51%	51.59%		Diesel	99.99%	99.82%

...

Olive By Embassy Debuts In Hyderabad’s Hitech City, Strengthening Its Metro Expansion Strategy

Olive by Embassy, the tech-led hospitality brand of Embassy Group, today announced its entry into Hyderabad with the launch of Olive Hotel – Hitech City, a 73-key property in Madhapur. Located on 100 ft road, the hotel sits in the centre of Hyderabad’s most dynamic business district, within minutes of major IT parks, corporate campuses, and emerging lifestyle destinations.

The debut marks a strategic milestone in Olive’s expansion into India’s top metro markets. A national hub for GCCs with a strong concentration of multinationals, a deep talent base, and expanding airport connectivity continues to make Hyderabad and the Hitech City–Gachibowli nexus one of the country’s most booming hospitality corridors.

“Hyderabad has evolved into a powerhouse for global technology and enterprise,” said Kahraman Yigit, CEO & Co-founder, Olive by Embassy. “As multinational companies expand and business travel intensifies, the market is demanding hospitality that is consistent, efficient, and technology-enabled. Our debut in Hitech City reflects Olive’s commitment to meeting this demand with a new standard of smart, organised accommodation.”

The standalone G+7 property features 73 contemporary rooms, a 45-seater restaurant, and a fully equipped fitness centre. Its location makes it a strong fit for corporate travellers visiting Hitech City, Gachibowli, and the Financial District; long-stay guests seeking predictable, high-quality service; and tech professionals arriving for short projects, relocations, and training programmes.

In line with Olive’s signature model, the hotel operates without a conventional front desk. Instead, guests experience AI-enabled check-in and a live video reception, cloud-based systems for instant service requests, smart room controls, and predictive maintenance. By removing friction from the operations layer, Olive delivers a faster, more intuitive stay experience – critical for frequent business travellers with tight schedules.

For Olive, Hyderabad serves as a strategic anchor for its South India expansion plan. The brand aims to add 10 hotels across Telangana in the next 12–18 months, focusing on high-demand micro-markets around Hitech City, Kukatpally, the Financial District, and the airport corridor. Nationally, Olive is on track to add 100 locations in 2026, with Hyderabad playing a key role in its metro-market portfolio.

Olive by Embassy continues to build momentum across its network spanning Bengaluru, Mysore, Chikmagalur, Vijayawada, and Pune. The brand recently launched Open Hotels – the world’s first remote, AI-native hotel operator – designed to transform budget to midscale hospitality through video-led reception, voice AI guest intelligence, and operational automation. In 2024, it signed a Strategic Licensing Agreement with Hilton to bring 150 Spark by Hilton Hotels to India.

About Olive by Embassy

Introduced in 2019, Olive by Embassy is the hospitality wing of the Embassy Group, one of India’s leading real estate developers. Olive is a multi-brand hospitality tech operating platform with multiple revenue avenues from management, design, and technology. With a vision to organise and institutionalise the accommodation market in India and beyond, Olive’s mission is to become the largest hospitality company in India.

Turkish Airlines And South African Airways Sign Codeshare Agreement

Turkish Airlines, the national flag carrier of Türkiye have signed a codeshare agreement with South African Airways, the national flag carrier of South Africa. The agreement, which will take effect on 1 March 2026, was signed in Geneva by Turkish Airlines Chairman of the Board and the Executive Committee Prof. Ahmet Bolat and South African Airways Prof. CEO John Lamola with the participation of senior executives from both companies.

Under this new agreement, Turkish Airlines will place its TK flight code on South African Airways flights operating across its key African gateways including Johannesburg, Cape Town, Durban, Port Elizabeth, Windhoek, Harare, Victoria Falls and Mauritius. On its part, South African Airways will place its SA flight code on selected Turkish Airlines operated flights between İstanbul and Johannesburg, Cape Town, Durban, Frankfurt, Paris and London.

Commenting on the agreement, Turkish Airlines Chairman of the Board and the Executive Committee Prof. Ahmet Bolat stated: “Our codeshare agreement with South African Airways is a meaningful step in further strengthening our presence in the African market and deepening the cooperation between Türkiye and South Africa. As the largest non-African airline operating in Africa, we attach great importance to sustainable partnerships that enhance connectivity and cultivate long-term value for our guests.”

South African Airways, CEO Prof. John Lamola said: “South African Airways welcomes this codeshare partnership as a strategic step in expanding safe, reliable, and competitive air services for our customers. Turkish Airlines is a respected global carrier, and this collaboration reflects our shared commitment to strengthening connectivity between Africa and Türkiye. Partnerships of this nature play an important role in supporting tourism, trade, and sustainable economic development.”

Turkish Airlines continues to reinforce its position as the airline with the most extensive network in Africa, connecting its guests through 65 destinations across 41 countries in the continent. The new codeshare agreement with South African Airways will further enhance this connectivity, establishing expanded access across key destinations for Turkish Airlines’ guests in South Africa while offering South African Airways’ guests access to Turkish Airlines’ unparalleled network spanning 355 destinations across 131 countries.

About Turkish Airlines:

Established in 1933 with a fleet of five aircraft, Star Alliance member Turkish Airlines has a fleet of 514 (passenger and cargo) aircraft flying to 355 worldwide destinations as 302 international and 53 domestics in 131 countries. More information about Turkish Airlines can be found on its official website www.turkishairlines.com or its social media accounts on Facebook, X, YouTube, LinkedIn and Instagram.

About South African Airways:

With 91 years in the skies, South African Airways (SAA) is the most awarded Skytrax airline in Africa and the proud carrier of the South African flag, linking domestic, regional, and international destinations. SAA flies from Johannesburg to Abidjan, Accra, and Dar es Salaam, Durban, Cape Town, Gqeberha, Harare, Kinshasa, Lusaka, Lubumbashi, Lagos, Mauritius (from Cape Town and Johannesburg), Windhoek, Victoria Falls, São Paulo (from Cape Town and Johannesburg), and Perth.

Since first taking skies in 1934, SAA has grown to include a passenger airline, a cargo transport service, and related services provided through its wholly owned subsidiaries, SAA Technical (SAAT) and Air Chefs. SAAT delivers high-quality maintenance services, major airframe checks, engine overhauls, mechanical components, avionics, and line maintenance to SAA and third parties. Air Chefs provide in-flight, airline lounges, and other catering services to the airline and third parties.

About Star Alliance:

Established in 1997 as the first truly global airline alliance, the Star Alliance network was founded on a customer value proposition of global reach, worldwide recognition, and seamless service. Since its inception, it has offered the largest and most comprehensive airline network, with a strong emphasis on enhancing the customer experience throughout the entire Alliance journey. The member airlines are: Aegean Airlines, Air Canada, Air China, Air India, Air New Zealand, ANA, Asiana Airlines, Austrian, Avianca, Brussels Airlines, Copa Airlines, Croatia Airlines, EGYPTAIR, Ethiopian Airlines, EVA Air, LOT Polish Airlines, Lufthansa, Shenzhen Airlines, Singapore Airlines, South African Airways, SWISS, TAP Air Portugal, THAI, Turkish Airlines, and United. Overall, the Star Alliance network currently offers 17,837 daily flights to over 1,160 airports in 192 countries. Further connecting flights are offered by Star Alliance Connecting Partner Juneyao Airlines. Star Alliance Press Office: Tel: +65 8729 6691 Email: mediarelations@staralliance.com Visit our website or connect with us on social media:

India’s World Cup Victory Celebrated With Its Own Gold Through Tanishq Exchange

Tanishq, India’s largest jewellery retail brand from the house of Tata, celebrates the Indian women’s cricket team’s historic ICC Women’s Cricket World Cup victory. The team has carried the hopes of a nation, displaying unwavering skill, determination, and courage. Their win is more than a trophy, it reflects resilience, teamwork, and the limitless potential of women across India. By breaking barriers and inspiring young girls everywhere, they have become a true symbol of national pride, sparking admiration and joy across the country.

For decades, Tanishq has reflected the stories and milestones of women across India. Since its inception, the brand has stood to empower and support every woman’s journey. In that spirit, the brand’s tribute to the Indian women’s cricket team takes shape through rings crafted from gold exchanged by families nationwide, gifted to each player to mark their remarkable win. It’s a meaningful gesture that connects Indian households with the women who made the country proud, a piece of India recrafted for its champions.

Celebrating this milestone, Ajoy Chawla, CEO Jewellery Division, Titan Company Limited, said, “The Indian women’s cricket team has given the country a moment that will be remembered for generations. Their grit, determination, and the way they carried the hopes of 1.4 billion people is truly extraordinary. These rings from Tanishq are our way of honouring their spirit, commitment, and achievement — crafted from the recycled gold that lakhs of customers have exchanged with us. Each ring carries a piece of the country, just as the team carries the pride of the nation.”

Tanishq’s Gold Exchange has empowered India to exchange old gold throughout the year bought from any jeweller, giving families a transparent and trusted way to renew their jewellery. What began as a service has grown into a nationwide movement, with customers exchanging more than 1.8 lakh kilos of gold. Built on the belief that India’s most cherished gold deserves to shine again, Tanishq continues to make the process more accessible by offering 0% deduction* on the exchange of old gold across any karat from any jeweller (as low as 9KT). It’s an invitation to step in, and add to a movement that helps the nation shine brighter.

The program has transformed how the country values its gold, and this moment is made possible by the 32 lakh Indians whose trust and participation lie at the heart of this journey.

MAHE-DST HUB Inaugurated To Accelerate Translational Research And MedTech Development

Manipal Academy of Higher Education (MAHE), an Institution of Eminence Deemed to be University in collaboration with the Department of Science and Technology (DST), Government of India, launched the Medical Instruments, Devices and Allied Services (MIDAS) DST–MAHE HUB on Wednesday 5, 2025 at Manipal Campus, Karnataka. This is the first facility of its kind in a self-financed university.

Inaugurating the DST-MAHE HUB in the MAHE Manipal campus, Dr. Praveen Roy, Head of Scientific Divisions Technology, Translation, and Innovation (TTI) Division, Department of Science & Technology, Government of India, highlighted the critical importance of Translational innovation, which plays a critical role in strengthening India’s scientific ecosystem. He said, “We remain committed to supporting all activities of the MIDAS HUB. The DST–MAHE HUB is uniquely positioned, as MAHE’s multidisciplinary foundation enables seamless integration across diverse domains. This initiative represents a paradigm shift in our approach to research and innovation, and the Government of India will extend its full support to ensure its success.” He also commended MAHE for its strong research ecosystem, which continues to advance impactful scientific progress for the society.

Addressing the occasion, Dr. H. S. Ballal, Pro Chancellor, MAHE, highlighted MAHE’s pivotal role in advancing collaborative, coordinated research and innovation. He emphasized, “the institution’s commitment to strengthening partnerships across academia, industry, and government, positioning MIDAS DST-MAHE HUB as a driving force for impactful scientific progress and societal benefit.”

Speaking at the event Lt. Gen. (Dr.) M. D. Venkatesh, VSM (Retd), Vice Chancellor, MAHE, expressively spoke about “the HUB’s pivotal role in nurturing high-impact research collaborations and cultivating future scientific leaders. He also appreciated the efforts put in by the team in establishing an excellent centre in the form of MIDAS HUB.”

The ceremony brought together distinguished leaders from academia, industry, and government. Delivering the welcome address Dr. G. Arun Maiya, Principal Coordinator of MIDAS HUB, presented an overview of HUB’s progress in medical device product development. Dr. Lazar Mathew, Senior Advisor, MIDAS HUB, unveiled the HUB logo and explained its philosophy, built around the theme “a project for a product.” The event was supported by MAHE’s key innovation and research entities, including the Directorate of Research, Manipal Universal Technology Business Incubator, Manipal GOK Bioincubator, Innovation Centre, and CAIF.

During the event, MAHE launched the Advanced Certificate Program in Medical Device Technology, Innovation and Leadership and released the MIDAS annual report. The HUB also introduced its industry–academia policy, service flyers, and signed multiple MoUs to foster long-term partnerships. Market-ready prototypes, including Laser Shoe, Mbilimeter, Armable Mini, WeCare, FluroAura, RevoCord, Wearable Electrolarynx, and Adrenaline Autoinjector—were showcased, reinforcing the HUB’s focus on impactful, deployable innovations.

The inauguration highlighted MAHE’s commitment to accelerating innovation in medical technology, strengthening industry–academia collaborations, and supporting translational research. MIDAS HUB aims to serve the entire West Coast innovation corridor, from Goa to Trivandrum, through partnerships with IIT Dharwad, IIT Palakkad, NITK Surathkal, Kannur University, Mahatma Gandhi University, BITS Goa, and leading industry players, including BPL, Philips, InBody, and Sparsh Technologies.

NUVO Champions Data Ownership And Inclusion With Its Blockchain-Powered Data Wallet

Inclusivetech startup NUVO is redefining how individuals access, own, and share their personal data. Founded in 2023 by Smriti Chaudhary and Saurav Raaj, the startup addresses a key challenge in India’s digital ecosystem — improving data access and control to strengthen financial and healthcare inclusion, especially among rural

women. With over half of rural women lacking mobile phone ownership and limited awareness of data rights, millions remain excluded from essential digital services, while organizations struggle with compliance due to inadequate consent management systems.

To bridge this gap, NUVO has built a Personalized Data Wallet powered by blockchain and enhanced with Zero Knowledge Proof Computation. This privacy-first platform enables users to securely manage digital identities, store verified data, and share it with institutions through a Universal Consent Layer that ensures privacy and compliance. It empowers individuals to take charge of their personal information while providing organizations with a trusted, consent-based data exchange framework.

Participation in the Kotak BizLabs Accelerator Programme provided NUVO with strategic mentorship, business insights, and access to a strong network of partners and experts. The programme helped NUVO refine its technology roadmap and strengthen its model for scalability and impact.

Smriti Chaudhary, Co-founder of NUVO, said, “At NUVO, our goal is to create a future where every individual has full control over their data. Kotak BizLabs played a crucial role in helping us sharpen our strategy and align innovation with real-world inclusion.”

Himanshu Nivsarkar, Head – CSR & ESG, Kotak Mahindra Bank Ltd., said, “NUVO reflects the spirit of inclusive innovation that Kotak BizLabs strives to nurture. By building technology that bridges access gaps and strengthens trust, startups like NUVO are laying the foundation for a more equitable digital future.”

With its privacy-first, blockchain-powered solution, NUVO is setting new standards in inclusivetech — making data ownership a right and driving meaningful inclusion across India’s digital economy.