New Delhi, May 5 -- India's automobile industry recorded a strong start to FY27, with April wholesale volumes rising across segments even as inflationary pressures and commodity costs continued to build, according to a report by Nomura.

Passenger vehicle (PV) wholesales grew 26 per cent year-on-year to around 445,000 units. while two-wheelers and medium and heavy commercial vehicles (MHCVs) also saw robust growth of 33 per cent and 14 per cent respectively. Tractor volumes outperformed expectations significantly, rising 22 per cent year-on-year against Nomura's estimate of a 2 per cent decline.

Retail momentum remained healthy, with PV retail sales at around 405,000 units, up 16 per cent year-on-year. Dealer checks indicated sustained d...