October 2025 saw the full impact of the recent GST rate cut combined with the festive season, driving a broad recovery across the automobile industry. The month reflected solid wholesale numbers for automakers, led by a strong performance in the commercial vehicle segment and steady demand in passenger vehicles and two-wheelers.

Commercial vehicles outperformed other categories during the month. Tata Motors reported a 10% year-on-year rise in CV sales, while Ashok Leyland posted a 16% increase against an estimated 11%. The company’s bus business, which had been underperforming earlier, showed a turnaround with sales up 34%, supported by improved fleet demand and infrastructure spending.

Passenger vehicle sales were largely in line with expectations. Growth continued to be led by SUVs, wh

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