India, Aug. 3 -- Passenger vehicle wholesales in India are estimated to have registered about 4.7 lakh units in July 2026. This marked an impressive 33% surge in wholesales last month, compared to the same month a year ago; as in July last year, the industry clocked around 3.5 lakh units. This surge in sales came riding on record volumes led by almost all major auto OEMs reporting record domestic sales, signalling resilient consumer demand despite the headwinds coming from price shocks, fuel price hikes, etc.

The continued positive impact of the GST rate cut, reduced repo rate, and tax relief on income of up to Rs.12 lakh helped the industry to clock these record numbers. Also, this sales performance in the domestic market ahead of the u...