TL;DR
Nuvama report forecasts double-digit year-on-year growth for India's auto industry in November 2025 across 2W, CV, and PV segments, driven by GST cuts, rural demand, and financing.
India's automotive industry is projected to experience significant double-digit year-on-year growth in November 2025 across all key segments: two-wheelers (2W), commercial vehicles (CV), and passenger vehicles (PV). This optimistic outlook, presented in a report by Nuvama, is driven by sustained positive consumer sentiment, enhanced affordability due to recent Goods and Services Tax (GST) cuts, strong rural demand, interest rate reductions, and ample financing availability.
The report highlights that two-wheeler sales are expected to climb by approximately 15% year-on-year in the domestic market, fueled by positive rural sentiment and increased cash flow during the marriage season. Similarly, the commercial vehicle segment is forecasted to achieve around 15% year-on-year growth, attributed to the positive impact of GST cuts, improved freight movement, and stable financing options. Passenger vehicle volumes are also predicted to rise by 13% year-on-year, further underscoring the broad-based recovery and expansion of the Indian auto sector.
