October 2026 was a month of two stories. Manufacturers dispatched more cars than ever to dealers, with Maruti, Tata and Hyundai all up around 17 to 21 percent on last year. Yet customers walking out of showrooms with new cars, which is what retail registrations measure, fell more than 14 percent. Understanding why the two figures point in opposite directions is the key to reading this month.
Manufacturer Sales by Brand
These figures are reported dispatches and include exports, so they are not the same as customer deliveries.
| Brand | October 2026 | Change vs Oct 2025 |
|---|---|---|
| Maruti Suzuki | 2,12,384 | +20.46% |
| Tata Motors | 73,894 | +20.87% |
| Mahindra | 73,338 | +2.39% |
| Hyundai | 62,799 | +16.74% |
| Kia | 33,462 | +13.22% |
| Toyota | 29,521 | -26.67% |
| Skoda Auto Volkswagen | 9,083 | +10.07% |
| JSW MG Motor | 7,014 | +9.65% |
| Honda | 5,429 | -15.09% |
| Renault | 4,577 | -9.20% |
| Nissan | 3,600 | +49.88% |
The eleven brands above add up to about 5.15 lakh cars, and the month is reported as the first to cross the 5 lakh mark for manufacturer sales. Tata held on to second place, only just ahead of Mahindra. Toyota's 26.67 percent fall was the sharpest among the large brands.
The Top 10 Models
| Rank | Model | Units | Change vs Oct 2025 |
|---|---|---|---|
| 1 | Maruti WagonR | 23,747 | +25.18% |
| 2 | Maruti Brezza | 22,436 | +85.85% |
| 3 | Tata Nexon / Nexon EV | 21,966 | -0.53% |
| 4 | Maruti Baleno | 20,919 | +23.98% |
| 5 | Maruti Dzire | 20,649 | -0.68% |
| 6 | Maruti Ertiga | 20,641 | +2.76% |
| 7 | Tata Punch / Punch EV | 20,525 | +22.10% |
| 8 | Maruti Fronx | 20,014 | +17.71% |
| 9 | Mahindra Scorpio / Scorpio-N | 19,353 | +8.24% |
| 10 | Maruti Swift | 18,866 | +21.39% |
Maruti holds seven of the ten places, Tata two and Mahindra one. The Brezza's 85.85 percent jump is the standout, and the Baleno was the only model to fall month on month after topping September. Note that the Nexon and Punch figures include their electric versions.
Retail Registrations Tell a Different Story
The industry body FADA, which counts vehicles actually registered to customers, reported 5,07,768 passenger vehicles in October 2026. That is down 14.23 percent from 5,92,032 a year ago, but up 18.86 percent from September's 4,27,213. Cumulative sales for the financial year to date are 30,68,353, up 16.41 percent.
| Brand | Retail units | Market share |
|---|---|---|
| Maruti Suzuki | 2,11,996 | 41.75% |
| Tata | 73,449 | 14.47% |
| Mahindra | 64,982 | 12.80% |
| Hyundai | 58,099 | 11.44% |
| Kia | 30,799 | 6.07% |
| Toyota | 28,727 | 5.66% |
| JSW MG Motor | 7,082 | 1.39% |
| VinFast | 2,571 | 0.51% |
FADA put the annual fall down mainly to a high base: in October 2025 both Navratri and Diwali fell in the same month, whereas this year Diwali is in November. It also pointed to buying patterns after the GST rate cuts, with utility vehicles holding up well and entry-level cars weaker.
When dispatches rise 20 percent while retail falls 14 percent, dealers are being stocked ahead of Diwali. Watch November's retail numbers: if they do not catch up, expect discounts and inventory pressure in December.
Fuel Mix: Petrol Is Losing Share
- Petrol and ethanol blends fell to 41.60 percent of retail sales, from 48.96 percent a year earlier.
- CNG, LPG, hybrid and electric together reached 41.83 percent.
- Electric cars made up 7.30 percent of sales, about 37,000 units, up from 3.55 percent. FADA said EV demand exceeded supply.
What to Watch in November
Diwali buying will show up in the November figures, and dealers have a large stock to clear. For buyers, that usually means better exchange bonuses and year-end offers. For the industry, the question is whether retail demand recovers enough to justify October's dispatch levels.