As of Juanuary 2024, round ** percent of the respondents of a survey conducted by Rakuten Insight across India said that they owned a car, as opposed to approximately ** percent of respondents who don't own one. Vehicle ownership stood at *** vehicles for every thousand Indians at the end of financial year 2020.

There were around *** registered vehicles for every thousand people across India in fiscal year 2020. Therer was a constant increase for the past two decades. The Indian state of *********** had the highest number of registered motor vehicles, at over ** million, at the end of fiscal year 2020.

In a country with the third-largest road network in the world, the total number of vehicles in fiscal year 2022 stood at 354 million. Road travel seemed to be the preferred choice in India with around 60 percent of the population who used personal or shared vehicles for commute. Not only public commute, the industrial movement of goods through roads has also been on the rise with nearly 2.9 billion metric tons per kilometer of freight transported through roads in the financial year 2020. Demographics The youth in the capital city of Delhi prefer to use public transport, and it is known to be one of the best public transport networks in the country. In the southern cities of Hyderabad and Chennai, however, personal two-wheelers were vehicles of choice for the young generation. This affection towards the easily navigable two-wheelers was reflected in the sales volume, with an approximate 18 million two-wheelers sold in the country in financial year 2024. Road accidents With the increase of motor bike sales in India, there was also a rise in the risks involved with them. With over 32.9 thousand road accidents by two-wheelers in 2022, each year, about three to five percent of the GDP of the country was invested in road accidents. Despite the downside, the number of motorcycles was likely to increase to make travelling within a mercilessly congested and not easily accessible network of roads within the large cities. Moreover, with continued urbanization and a consumer sector that continues to burgeon, the development of the automotive industry was expected to see continued growth.

India Registered Motor Vehicles: Total data was reported at 354,018.000 Unit th in 2022. This records an increase from the previous number of 334,551.000 Unit th for 2021. India Registered Motor Vehicles: Total data is updated yearly, averaging 18,036.000 Unit th from Mar 1951 (Median) to 2022, with 66 observations. The data reached an all-time high of 354,018.000 Unit th in 2022 and a record low of 306.000 Unit th in 1951. India Registered Motor Vehicles: Total data remains active status in CEIC and is reported by Ministry of Road Transport and Highways. The data is categorized under Global Database’s India – Table IN.RAD002: Number of Registered Motor Vehicles.

This dataset contains the Total Number of Registered Motor Vehicles for 1951 - 2019. Data from The Ministry Road transport and Highways of India. Export API data for more datasets to advance energy economics research.Notes:- 'Two-wheelers' include auto-rickshaws for the years 1959 to 1969. For the remaining years, auto-rickshaws are included in 'others'.- 'Good vehicles' include Multiaxled / articulated vehicles, trucks & lorries and light motor vehicles (LMV Goods).- 'Others' include tractors, trailers, three wheelers (passenger vehicles)/LMV and other miscellaneous vehicles for which category-wise break up is not reported by State/UT.- "Buses' includes omni buses since 2001.Source Offices of State Transport Commissioners/UT Administrations.

India Registered Motor Vehicles: per 1000 Persons: Two Wheelers data was reported at 86.952 NA in 2013. This records a decrease from the previous number of 96.022 NA for 2012. India Registered Motor Vehicles: per 1000 Persons: Two Wheelers data is updated yearly, averaging 7.008 NA from Mar 1951 (Median) to 2013, with 57 observations. The data reached an all-time high of 96.022 NA in 2012 and a record low of 0.075 NA in 1951. India Registered Motor Vehicles: per 1000 Persons: Two Wheelers data remains active status in CEIC and is reported by Ministry of Road Transport and Highways. The data is categorized under India Premium Database’s Automobile Sector – Table IN.RAD002: Number of Registered Motor Vehicles.

India's capital, Delhi, had the highest number of registered cars at the end of fiscal year 2020, amounting to approximately *** million. It was followed by Bengaluru, with **** million cars. Car in this category represents non-transport vehicles which exclude jeeps, omni buses, tractors, trailers, and etc.

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India Used Car Market Size 2025-2029

The India used car market size is forecast to increase by USD 33.43 billion at a CAGR of 12.9% between 2024 and 2029.

The used car market presents a significant growth opportunity for businesses and investors alike, driven by several key factors. Firstly, the excellent value for money proposition of used cars continues to attract consumers, particularly in the current economic climate. This trend is further bolstered by the increasing preference for flexible mobility solutions, such as car subscription services, which offer the benefits of car ownership without long-term commitment. Furthermore, the emergence of car subscription services has added a new dimension to the market, offering flexibility and convenience to consumers. Another trend is the growing use of 3D printing in passenger car manufacturing, which offers benefits such as reduced production time and lower costs. However, this market is not without its challenges. The rise of e-commerce platforms and digital marketplaces has intensified competition, necessitating improved touchpoint management and customer experience to differentiate offerings.
Additionally, regulatory changes and evolving consumer expectations around vehicle safety and emissions standards pose ongoing challenges for market participants. To capitalize on opportunities and navigate these challenges effectively, companies must stay abreast of market trends, invest in digital transformation, and prioritize customer satisfaction.

What will be the size of the India Used Car Market during the forecast period?

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The used car market continues to evolve, driven by shifting consumer preferences and advancements in automotive technology. Buying a used car is a popular choice for many, with the process increasingly influenced by digital tools and data-driven insights. Safety features and connectivity are key considerations, as consumers seek assurance and convenience. Car advertising and marketing strategies reflect these trends, highlighting the benefits of pre-owned vehicles in the connected car ecosystem. Autonomous vehicle development and the rise of mobility solutions, such as car sharing services, further impact the market.
Hybrid car adoption continues to grow, contributing to changing depreciation rates and valuation dynamics. Repair and auction services remain essential components of the used car market, providing critical touchpoints in the customer journey. Overall, the used car market is a dynamic and evolving landscape, shaped by consumer needs, technological advancements, and industry trends. Diesel engines are losing favor due to environmental concerns and stricter regulations. EV charging stations and battery technology are advancing, with the Internet of Things (IoT) playing a significant role in optimizing charging and battery management.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Channel

  Offline
  Online


Vehicle Type

  Compact car
  Mid size
  SUV


Type

  Petrol
  Diesel
  Others


Geography

  India

By Channel Insights

The offline segment is estimated to witness significant growth during the forecast period. The used car market in the global context is characterized by the significant presence of offline channels, which accounted for the largest market share in 2024. These channels consist of dealership chains and OEM-affiliated dealerships. Offline channels offer various advantages, including safeguards and guarantees for the original seller, smooth vehicle ownership transfer through local government tie-ups, and transparency about timelines and fees. Organized used car companies often provide technical expertise and capital support to customers. Furthermore, they have partnerships with financiers to offer better financing options, including NBFCs. Consumer reports play a crucial role in the used car market, influencing consumer decisions through data analytics, car safety ratings, and personalized recommendations based on automotive technology, fuel efficiency, environmental concerns, hybrid vehicles, electric vehicles, and maintenance records.

Car auctions, used car warranties, and car loan options are essential aspects of the used car market. Car financing, vehicle maintenance, and car value are crucial factors for consumers in the used car market. The market is expected to grow due to the increasing demand for used cars, advancements in automotive technology, and the growing popularity of electric and hybrid vehicles.

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The Offline segment was valued at USD 23903.00 million in 2019 and showed a gradual increase during the

The India Used Car Market Report is Segmented by Vehicle Type (Micro/Hatchback, SUV, and More), Vendor Type (OEM-Certified Franchise, and More), Fuel Type (Petrol, Battery-Electric, and More), Vehicle Age (Less Than 3 Years, and More), Ownership Count (First-Owner, and More), Transmission (Manual and Automatic), Price Band, and Region. The Market Forecasts are Provided in Terms of Value (USD) and Volume (Units).

The Indian automobile industry, valued at ₹126.67 billion in 2025, is projected to experience robust growth, driven by increasing disposable incomes, a burgeoning middle class, and government initiatives promoting vehicle electrification and infrastructure development. The industry's Compound Annual Growth Rate (CAGR) of 8.20% from 2019 to 2024 suggests a continued upward trajectory through 2033. Key growth drivers include the rising demand for passenger cars, particularly in urban areas, and the sustained popularity of two-wheelers, which remain the primary mode of transportation for a large segment of the population. Government policies aimed at reducing emissions and promoting electric vehicles are likely to significantly reshape the market landscape in the coming years, leading to increased investment and innovation in the electric vehicle (EV) segment. While challenges such as fluctuating fuel prices and stringent emission norms remain, the overall outlook for the Indian automobile industry remains positive, with significant potential for expansion across various segments, including commercial vehicles and three-wheelers. The competitive landscape is characterized by a mix of established domestic players like Maruti Suzuki, Tata Motors, Bajaj Auto, and Hero MotoCorp, and international manufacturers such as Hyundai, Honda, and Volkswagen. The presence of these key players underscores the industry's maturity and the significant foreign direct investment it attracts. The increasing focus on technological advancements, particularly in areas such as connected car technology and autonomous driving, will further stimulate innovation and competition. Furthermore, the growth of the shared mobility sector and the rising preference for fuel-efficient and environmentally friendly vehicles will continue to influence consumer choices and shape the strategic direction of automotive companies operating in India. The industry's segmentation by vehicle type (two-wheelers, passenger cars, commercial vehicles, three-wheelers) and fuel type (diesel, petrol/gasoline, CNG/LPG, electric) offers a granular understanding of market dynamics, allowing companies to tailor their strategies to specific consumer segments. This report provides an in-depth analysis of the Indian automobile industry, covering the period from 2019 to 2033. It leverages historical data (2019-2024), with a base year of 2025 and forecasts extending to 2033. The report examines key segments, including passenger cars, commercial vehicles, two-wheelers, and three-wheelers, across various fuel types (petrol/gasoline, diesel, CNG, LPG, electric, and others). It analyzes market trends, growth drivers, challenges, and emerging opportunities, providing valuable insights for industry stakeholders. High-search-volume keywords like "Indian automobile market size," "India EV market," "two-wheeler sales India," and "automotive industry India growth" are strategically incorporated throughout to ensure maximum search engine visibility. Recent developments include: January 2024: Maruti Suzuki India intended to build a car production facility in Gujarat, India, capable of manufacturing 1 million vehicles annually, with an estimated investment of around INR 35,000 crore (USD 4.2 billion). This move is expected to bolster the Indian automobile industry significantly., February 2024: TVS Mobility, a division of the TVS Group, established a collaborative partnership with Mitsubishi Corporation, a prominent Japanese conglomerate. Mitsubishi invested INR 300 crore (USD 40 million) in TVS Vehicles Mobility Solutions (TVS VMS), a recently established subsidiary, acquiring a 32% ownership stake in the venture.. Key drivers for this market are: The Growing Economy, Coupled with Rising Disposal Incomes and Urbanization, Fuels Demand for the Market. Potential restraints include: Various Regulatory Changes, Safety Standards, and Taxation Policies by the Government may Hamper the Market. Notable trends are: The Two-Wheelers Segment to Register Fastest Growth over the Forecast Period.

Registered Motor Vehicles: City: Chennai data was reported at 6,351.729 Unit th in 2020. This records an increase from the previous number of 5,996.624 Unit th for 2019. Registered Motor Vehicles: City: Chennai data is updated yearly, averaging 3,455.789 Unit th from Mar 2002 (Median) to 2020, with 19 observations. The data reached an all-time high of 6,351.729 Unit th in 2020 and a record low of 1,355.550 Unit th in 2002. Registered Motor Vehicles: City: Chennai data remains active status in CEIC and is reported by Ministry of Road Transport and Highways. The data is categorized under India Premium Database’s Automobile Sector – Table IN.RAE001: Number of Registered Motor Vehicles: by Cities.

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India Automotive Market Size 2025-2029

The India automotive market size is forecast to increase by USD 60.6 billion, at a CAGR of 7.9% between 2024 and 2029.

The India Automotive Market is segmented by type (Two-wheelers, Passenger Cars, Commercial Vehicles, Three-wheelers), fuel type (Diesel, Petrol, CNG and LPG, Electric), distribution channel (Offline, Online), sales channel (OEM, Aftermarket), consumer segment (Individual, Fleet), and geography (APAC: India). This segmentation reflects the market's diversity, driven by strong demand for Two-wheelers and Electric vehicles among Individual consumers, growing Online distribution for Passenger Cars, and robust Offline OEM sales for Commercial Vehicles and Fleet buyers, supported by the increasing adoption of CNG and LPG options to meet India's evolving mobility needs across the APAC region.
The Indian automotive market is experiencing significant growth, driven primarily by the expanding middle-class population and their increasing demand for personal mobility solutions. This demographic shift is fueling the market's expansion, as more consumers seek to purchase vehicles for personal use. A notable trend emerging in the market is the rising preference for electric vehicles (EVs), as the government pushes for a shift towards sustainable transportation. This trend is further propelled by the falling costs of EV technology and the growing awareness of environmental concerns. However, the market is not without its challenges. Intensifying competition among companies is one such obstacle, as companies strive to differentiate themselves and capture market share.
Additionally, the infrastructure required to support the growing adoption of EVs, such as charging stations and battery swapping facilities, remains underdeveloped. Addressing these challenges will require strategic investments and collaborations between industry players and the government to ensure the sustainable growth of the market. Companies that successfully navigate these challenges and cater to the evolving needs of the Indian consumer stand to gain significant market share and establish a strong presence in this dynamic market.

What will be the size of the India Automotive Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The Indian automotive market is characterized by a dynamic interplay of technological innovation, customer preferences, tax incentives, and various regulatory frameworks. Technological advancements have led to the production of more reliable and fuel-efficient vehicles, aligning with evolving consumer demands. However, spare parts availability and affordability remain critical concerns for customers. Environmental impact is increasingly shaping market trends, with emission regulations driving the adoption of cleaner technologies. Distribution channels are expanding, with a growing emphasis on digital platforms and e-commerce. Brand loyalty, talent acquisition, and skills development are crucial for companies seeking to stay competitive. Government regulations, including safety and economic growth initiatives, influence production capacity and pricing strategies.
Industry collaboration and infrastructure development are essential for addressing supply chain disruptions and maintaining industry standards. Circular economy principles and innovation ecosystems are gaining traction, with a focus on reducing the carbon footprint and promoting sustainable practices. Marketing and sales strategies are evolving to cater to changing consumer behavior, while demand forecasting and resale value remain essential considerations. Maintenance costs and engine performance are key factors influencing customer satisfaction. Emission norms and fuel economy regulations continue to shape the competitive landscape, with companies investing in research and development to meet these challenges. In summary, the Indian automotive market is a complex ecosystem, shaped by technological innovation, customer preferences, regulatory frameworks, and global value chains.
Companies must navigate these dynamics to remain competitive and thrive in this evolving landscape.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Two-wheelers
  Passenger cars
  Commercial vehicles
  Three-wheelers


Fuel Type

  Diesel
  Petrol
  CNG and LPG
  Electric


Distribution Channel

  Offline
  Online


Sales Channel

  OEM
  Aftermarket


Consumer Segment

  Individual
  Fleet


Geography

  APAC

    India

By Type Insights

The two-wheelers segment is estimated to wit

The Indian state of Goa had *** registered motor vehicles per 1,000 population in fiscal year 2015. The least was in the state of Bihar with only ** motor vehicles per 1,000 population during the measured time period.

The India Commercial Vehicles Market report segments the industry into Vehicle Body Type (Buses, Heavy-Duty Commercial Trucks, Light Commercial Pick-Up Trucks, Light Commercial Vans) and Propulsion Type (Hybrid And Electric Vehicles, ICE). Get five years of historical data alongside five-year market forecasts.

India Registered Motor Vehicles: Two Wheelers data was reported at 263,378.000 Unit th in 2022. This records an increase from the previous number of 249,993.000 Unit th for 2021. India Registered Motor Vehicles: Two Wheelers data is updated yearly, averaging 11,788.000 Unit th from Mar 1951 (Median) to 2022, with 66 observations. The data reached an all-time high of 263,378.000 Unit th in 2022 and a record low of 27.000 Unit th in 1951. India Registered Motor Vehicles: Two Wheelers data remains active status in CEIC and is reported by Ministry of Road Transport and Highways. The data is categorized under Global Database’s India – Table IN.RAD002: Number of Registered Motor Vehicles.

We asked Indian consumers about "Car ownership by make / brand" and found that "Maruti Suzuki" takes the top spot, while "Volkswagen" is at the other end of the ranking.These results are based on a representative online survey conducted in 2025 among ***** consumers in India. Looking to gain valuable insights about car owners across the globe? Check out our reports about consumers of car brands worldwide. These reports provide readers with a detailed understanding of car owners: their identities, preferences, opinions, and how to effectively engage with them.

Registered Motor Vehicles: Punjab data was reported at 11,336.000 Unit th in 2020. This records an increase from the previous number of 10,559.000 Unit th for 2019. Registered Motor Vehicles: Punjab data is updated yearly, averaging 4,702.500 Unit th from Mar 1997 (Median) to 2020, with 24 observations. The data reached an all-time high of 11,336.000 Unit th in 2020 and a record low of 2,095.000 Unit th in 1997. Registered Motor Vehicles: Punjab data remains active status in CEIC and is reported by Ministry of Road Transport and Highways. The data is categorized under Global Database’s India – Table IN.RAD002: Number of Registered Motor Vehicles.

Market Size for India Multi-Brand Car Service Industry on the Basis of Revenue, 2018-2024 In 2023, GoMechanic launched a subscription-based service program, with which customers will remain glued by making the servicing of their cars easier and cheaper, especially in metro cities like Delhi, Mumbai, and Bangalore. The India multi-brand car service market had gained a value of INR 15,000 Crore during 2023 driven by key factors such as gaining high vehicle ownership in the country and improving the number of out of warranty vehicles on-road. Moreover, it is predicted to rise owing to adopting cost-effective solution angles in repair and maintenance. Besides, the companies leading in offering these services also have a wide outreach towards their customers across networks, services offering, and business models. Names such as GoMechanic, Mahindra First Choice, Bosch Car Service, MyTVS that enjoy excellent wide networks, various services on offer, and serve customer-oriented models respectively.

Registered Motor Vehicles: Ladakh: Light Motor Vehicle data was reported at 123.000 Unit in Apr 2025. This records an increase from the previous number of 101.000 Unit for Mar 2025. Registered Motor Vehicles: Ladakh: Light Motor Vehicle data is updated monthly, averaging 81.000 Unit from Jan 2006 (Median) to Apr 2025, with 231 observations. The data reached an all-time high of 560.000 Unit in Jul 2021 and a record low of 4.000 Unit in Apr 2010. Registered Motor Vehicles: Ladakh: Light Motor Vehicle data remains active status in CEIC and is reported by Ministry of Road Transport and Highways. The data is categorized under India Premium Database’s Automobile Sector – Table IN.RAC011: Number of Registered Motor Vehicles: Monthly: by Category Wise. [COVID-19-IMPACT]

Electric Vehicles in India

Here is a list of currently available electric vehicles in India. This list also includes:

• Vehicle Style
• Range
• Transmission
• Vehicle Type (mostly electric of course ! 😃 )
• Price Range (ex Delhi)
• Boot Space
• Base Model
• Top Model