Vehicle registrations fall 12.1% in Oct.

Friday, 13 November 2026 03:36 - - {{hitsCtrl.values.hits}}

JB Securities says vehicle imports could top $ 2.4 b in 2026, up 20% from 2025’s $ 1.87 b

Total vehicle registrations declined 12.1% month-on-month to 47,628 units in October from 54,214 in September, reflecting a broad-based contraction across most major vehicle categories, according to JB Securities.

Two-wheeler registrations fell 13% to 33,722 units, while motor car registrations declined 17.9% to 2,802. SUV and crossover registrations dropped 13.8% to 3,399 units. Pickup and commercial vehicle registrations also recorded declines. Electric vehicle registrations increased 5.4% to 6,374 units, supported mainly by electric two-wheelers, which rose to 5,342 units. Large tractor registrations also increased sharply by 49.1% to 407 units.

JB Securities CEO Murtaza Jafferjee said vehicle imports had reached $1.87 billion in the first nine months of 2026 and could total around $2.4 billion for the full year, approximately 20% above 2025 levels, if the prevailing monthly import rate continues.

However, Jafferjee noted passenger vehicle imports have moderated amid the gradual exhaustion of pent-up demand, rupee depreciation, tighter credit conditions and higher import taxes. He cautioned that lower vehicle imports, particularly passenger cars, could moderate vehicle-related tax revenue and weigh on GDP growth in the second half of 2026, against a high base in the corresponding period last year.