Vehicle registrations surged to an all-time high after restrictions were lifted early last year, reaching 55,365 units in January, up from 48,525 units in December. Two-wheelers dominated the market, accounting for 64.17% of total registrations.

Motor car registrations declined month-on-month, falling to 4,648 units in January from 5,007 units in December.

Brand-new motor car registrations dropped sharply to 556 units, down from 1,150 units the previous month. BAW, a relatively new Chinese EV entrant, led the segment with 154 units, driven almost entirely by the E7 (151 units)—a small, low-cost model positioning itself as a potential challenger to the Maruti Alto.

Wuling placed fourth with 76 units (Binguo: 64; Cloud: 12), while BYD ranked fifth with 43 units (Atto 1: 39; Dolphin: 4). Approximately 52% of registrations were financed, indicating continued reliance on credit.

Pre-owned motor car registrations increased to 4,092 units in January, up from 3,857 units in December, indicating steady momentum in the preowned-car market. Suzuki led the segment with 1,548 units, driven primarily by the Wagon R (1,121), followed by the Spacia (254) and Alto (93). Toyota ranked second with 1,231 units, with volumes concentrated in the Yaris (568) and Roomy (542).

Small cars—defined as vehicles with engine capacity below 1,000 cc or electric motors under 100 kW—dominated the market, accounting for 95.7% of total volumes. Financing penetration stood at 50%.

Hybrids recorded 3,465 units in January, up from 3,142 units in December, continuing the steady expansion of the segment. SUVs and crossovers overwhelmingly dominated hybrid registrations, accounting for 3,320 units, while motor cars contributed just 88 units. Of the SUV and crossover hybrids, 2,462 units were pre-owned, underscoring the strong reliance on the grey market.

The segment remains heavily concentrated among Japanese manufacturers, reflecting both consumer trust in established hybrid technology and the limited availability of competitive alternatives from other regions.

EV registrations increased to 3,763 units in January, up from 3,220 units in December. Two-wheelers dominated the EV segment with 2,976 units, while motor cars recorded 329 units, SUVs and crossovers 169 units, and three-wheelers 29 units.

Three-wheeler registrations increased to 3,448 units from 3,007 units the previous month. Bajaj remained the clear market leader with 2,852 units, followed by TVS with 400 units. Electric three-wheelers remained marginal, with just 29 units registered. Financing penetration stood at 51.5%.

Two-wheeler registrations surged to 35,533 units in January, up from 30,415 units in December. Brand-new vehicles accounted for 35,041 units, while pre-owned units totalled 492. Bajaj led the market with 10,239 units, followed by Honda (6,077), Hero (5,678), TVS (4,970) and Yamaha (4,093). Scooters accounted for 17,221 units, with Honda leading the category with a 35.3% share.

Motorcycles recorded 17,820 units, where Bajaj dominated with a 57.4% share. Electric two-wheelers totalled 2,976 units, led by Yadea with 1,540 units. Financing penetration in the two-wheeler segment stood at 57.1%.

Pickup truck registrations increased to 612 units in January, up from 520 units in December, reflecting continued strength in this segment. Brand-new vehicles accounted for 430 units, while pre-owned pickups totalled 182 units.