New Delhi, June 5: Union Minister of Commerce and Industry Piyush Goyal stated on Friday that India’s growth journey is advancing at full speed. He highlighted the impressive performance of the country’s passenger vehicle market, noting a remarkable increase in May 2026.
In a post on the social media platform X, the minister revealed that approximately 440,000 vehicles were sold in India’s passenger vehicle market in May 2026, marking a 23% increase compared to the same period last year.
Goyal emphasized the significant role played by major automobile manufacturers, including Maruti Suzuki India, Tata Motors, and Mahindra & Mahindra, in this growth.
He remarked, “India’s growth momentum is in full swing. The passenger vehicle market saw sales of about 440,000 units in May 2026, reflecting a 23% year-on-year increase. This growth has been led by Maruti Suzuki India, Tata Motors, and Mahindra Auto, showcasing strong consumer demand despite global uncertainties.”
The minister pointed out that the rising demand for domestically manufactured vehicles reflects growing consumer confidence in the domestic manufacturing sector and the robust automobile ecosystem in the country.
Goyal stated, “The strong demand for ‘Make in India’ vehicles demonstrates the increasing trust of consumers, a flourishing manufacturing system, and the transformative impact of Prime Minister Narendra Modi’s ‘Make in India’ vision.”
He linked the progress in the automobile sector to the broader economic changes occurring in the country. The ‘Make in India’ initiative has played a crucial role in promoting manufacturing and industrial production.
He added that the momentum in the automobile sector reflects innovation, entrepreneurship, and the aspirations of 1.4 billion Indians, contributing to the goal of a developed India.
“The journey towards a developed India is driven by innovation, entrepreneurship, and the aspirations of 1.4 billion Indians,” he stated.
Earlier this month, India’s largest car manufacturer, Maruti Suzuki India, reported its highest monthly sales ever in May. The company dispatched 190,337 passenger vehicles to dealers in May, representing a 39.99% increase compared to the previous year.
Additionally, this figure surpassed the previous record of 187,704 units set in April.
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