April Auto Sales Preview: Two-Wheelers Lead Growth; PVs Strong, CVs Moderate, Tractors Cool

India’s automobile sector is expected to begin fiscal year 2027 on a mixed but largely positive note, with two-wheelers and passenger vehicles likely to lead April sales growth, while commercial vehicles and tractors may witness moderation. Industry estimates suggest consumer demand remains healthy in key segments, although sequential declines are visible after the traditionally strong March sales period.

The two-wheeler segment is projected to post robust year-on-year growth, supported by a favourable base effect and improving rural demand. Bajaj Auto is expected to report sales of 3.91 lakh units, up 23.14% from a year earlier, while TVS Motor may record 4.99 lakh units, rising 15.9% annually. Hero MotoCorp could register one of the strongest gains at 5.77 lakh units, a sharp 89.09% jump year-on-year, though volumes may decline slightly from March levels. Eicher Motors is also expected to post healthy growth at 1.12 lakh units, up 29.39%.

Passenger vehicle makers are likely to maintain solid momentum, driven by continued demand for SUVs and premium models. Mahindra & Mahindra’s passenger vehicle division is projected to sell 62,000 units, up 18.48% year-on-year. Maruti Suzuki, the market leader, may post 2.13 lakh units, reflecting 18.89% annual growth despite a month-on-month decline. Tata Motors is expected to report 63,250 units, a strong 38.91% rise, while Hyundai Motor India may see sales of 65,500 units, up 7.78% from the previous year.

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In contrast, the commercial vehicle segment is expected to show slower momentum, with notable sequential declines due to demand uncertainty and post-financial-year adjustments. Ashok Leyland may report 15,150 units, up 12.88% year-on-year but sharply lower month-on-month. VE Commercial Vehicles is projected at 7,625 units, while Tata Motors’ CV segment may record 30,200 units, both showing annual growth but weaker monthly trends.

Tractor sales are also likely to cool after a strong FY26, reflecting seasonal softness and a high comparison base. Escorts Kubota is expected to post 9,550 units, up 9.41% year-on-year, while Mahindra & Mahindra’s tractor division may report 42,000 units, rising 5.81% annually. Analysts say the April numbers indicate stable underlying demand, but near-term performance will continue to depend on rural sentiment, financing conditions, and broader economic trends.

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