New Delhi, Nov. 3 -- India's automobile industry recorded strong wholesale growth in October 2026, with passenger vehicle and two-wheeler volumes rising over 15 per cent year-on-year (YoY). However, retail sales declined across key segments due to a shift in the festive calendar, according to a report by Kotak Institutional Equities.

The report said the decline in retail sales was largely due to the timing of festivals rather than a slowdown in underlying consumer demand.

Domestic passenger vehicle (PV) wholesale volumes grew over 15 per cent YoY in October, supported by strong demand and inventory replenishment at dealerships. On a like-for-like basis, retail sales registered high-single-digit growth from the beginning of Navratri unti...