November 2025 marked a return to equilibrium for India’s passenger-vehicle industry. After October delivered the strongest festive season in a decade, the market naturally experienced a post-festive cooldown, yet still maintained a solid year-on-year expansion—powered by the sustained structural impact of GST 2.0’s 18% slab for small cars.

Unlike October, where retail demand surged due to Navratri–Diwali convergence, November saw:

• Normalised showroom footfalls

• A slower billing cycle as OEMs recalibrated inventory

• Strong small-car demand continuing due to lower GST

• SUVs retaining dominance, though with slightly tempered volumes compared to October

The big picture is clear:
October was the peak; November is the proof that the market’s growth isn’t just festive—it’s structural.

Top 25 Selling Cars in India – November 2025

The Big Picture: Market Stabilises After October’s Fireworks

Compared to October 2025

• October’s Top 25 contributed ~3.8 lakh units.

• November’s Top 25 contributed ~3.27 lakh units—a healthy correction of ~13%.

• This drop is typical after Diwali, yet the market remains significantly above pre-GST trends.

Key Takeaways

• GST 2.0 continues to support small-car and sub-4m SUVs.

• Mid-size SUVs plateaued as festive bulk bookings reduced.

• Sedans and hatchbacks improved share, led by Dzire, Swift, Wagon R and Alto.

• MUV demand stayed robust, especially for Ertiga and Innova.

Even in a cooldown month, YoY growth across Top 25 averaged ~23%, signalling strong structural momentum.

Segment Composition – November vs October

Why the shift?

• October’s SUV share was inflated by festive pre-bookings and flagship models.

• In November, affordability reasserted itself—boosting hatchbacks and sedans.

• MUVs such as Ertiga and Innova remained strong due to family travel and year-end purchase cycles.

OEM Scoreboard – Who Gained, Who Stabilised

Maruti Suzuki — The Post-Festive Stabiliser

Models in Top 25: 11
Strengths in November:

• Dzire at #2, a remarkable 79% YoY jump

• Swift + Wagon R + Alto pulled hatchback momentum back

• Victoris continues to settle well into the market
  Challenges:

• Baleno and Brezza saw notable corrections from October

Compared to October:
Maruti’s October frenzy settles into stable demand, still commanding the highest share of the market.

Tata Motors — Nexon Continues Its Dominance

Models in Top 25: Nexon, Punch

• Nexon tops the chart again (just as in October), showing no festive hangover.

• Punch continues strong double-digit YoY growth.

Compared to October:
Tata maintains momentum; demand appears structural, not festive-dependent.

Mahindra — Rural and Lifestyle Segments Hold Firm

Models: Scorpio, Bolero, Thar, XUV 3XO, XUV 700

• All core models except XUV 700 showed strong YoY growth.

• Bolero and Scorpio benefited from rural stability.

• Thar maintained lifestyle traction despite the 40% tax bracket.

Compared to October:
XUV700 dropped sharply due to production alignment and festive backlog billing in October.

Hyundai — Strong but Not Festive-Boosted

Models: Creta, Venue

• Creta remains India’s favourite mid-SUV.

• Venue saw stable, non-festive-driven demand.

Compared to October:
Similar pattern; no major highs or lows.

Kia — Riding the Sonet Wave

Models: Sonet, Carens/Clavis, Seltos

• Sonet delivered a powerful +30% YoY.

• Carens stable with year-end family purchase patterns.

Compared to October:
Marginal correction but steady performance.

Toyota — Hyryder Moderates After October Spike

Models: Innova/Hycross, Hyryder

• Hyryder sees expected cooldown after its October surge.

• Innova Hycross remains robust in premium MUV space.

Compared to October:
Hybrid interest remains strong, but festive spike was not sustained at the same pace.

Model-by-Model Insights (Top 15 Highlights)

1. Tata Nexon (22,434 units; +46% YoY)

• Remains India’s #1 for the second straight month.

• Demand continues despite October’s peak—shows structural demand, not event-driven.

2. Maruti Dzire (21,082 units; +79% YoY)

• The sedan revival is real.

• Perfect fit for 18% GST slab makes it extremely EMI-friendly.

3. Maruti Swift (19,733 units; +34% YoY)

• Swift recovers after an October dip.

• Benefited from price-sensitive buyers post-festive.

4. Tata Punch (18,753; +21% YoY)

• Among India’s most consistent performers.

• Strong AMT + CNG demand.

5. Hyundai Creta (17,344; +12% YoY)

• Continues to dominate mid-SUVs.

• Slightly lower than festive October but still strong.

6. Maruti Ertiga (16,197; +7% YoY)

• Family buyers stabilise demand

• Taxi + fleet replacements add momentum.

7. Mahindra Scorpio (15,616; +23% YoY)

• Rural demand steady; order books still long.

8. Maruti Fronx (15,058; +1% YoY)

• Plateauing after months of strong run.

• Not a festive surge model.

9. Maruti Wagon R (14,619; +5% YoY)

• Post-festive EMI offers helped retain interest.

10. Maruti Brezza (13,947; -7% YoY)

• Continues to be overshadowed by Fronx and Victoris.

11. Maruti Baleno (13,784; -15% YoY)

• A notable drop.

• SUV-shift very visible in Baleno’s numbers.

12. Maruti Eeco (13,200; +25% YoY)

• MSMEs revive purchases after festive downtime.

13. Maruti Victoris (12,300; new)

• Second month in Top 15 — strong early acceptance.

14. Kia Sonet (12,051; +30% YoY)

• Facelift buzz continues; strong in metros and Tier-2 cities.

15. Hyundai Venue (11,645; +19% YoY)

• Maintains steady demand thanks to 18% GST advantage.

GST 2.0 – The Second Full Month Confirms a Structural Reset

**October was the immediate reaction.

November is the confirmation.**

Winners of the 18% slab—compact SUVs and hatchbacks—dominate November:

• Nexon

• Punch

• Dzire

• Swift

• Wagon R

• Alto

• Sonet

• XUV 3XO

• Venue

These models saw:

• Higher finance conversion

• Lower EMI thresholds

• Stronger first-time buyer activity

• Faster retail movement even without festive push

40% tax slab SUVs

• Creta

• Scorpio

• Thar

• Innova
  Still held firm, proving their segments are price inelastic.

Festive Peak vs Post-Festive Reality – What Changed?

What drove October’s record highs

• Diwali/NVAT convergence

• Advanced bookings

• Inventory push

• Bank-led festive financing

• Special editions + discounting

Why November cooled

• Fulfillment of October booking backlog

• Natural market fatigue

• No festive incentive stacking

• OEMs realigned dispatches to manage inventory

Yet, unlike previous years:

November did NOT collapse after a festive boom.
GST 2.0 kept volumes elevated.

Biggest Movers & Drags (YoY)

Top Gainers

Top Decliners

What to Watch in December 2025

• Year-end discounts to clear BS6.3 inventory and align with 2026 model updates

• Hybrid scale-up by Toyota & Maruti

• Compact car dominance to intensify due to 18% GST slab

• Possible price protection schemes ahead of January revisions

• Higher demand for CNG models due to narrowing petrol-CNG price gap

Bottom Line

November 2025 was not about breaking records — October already did that.

Instead, it was about proving the market’s new normal is structurally stronger:

• GST 2.0 has permanently lowered the entry barrier for small cars.

• SUVs remain the backbone of India’s market.

• Sedans and hatchbacks have found a second life.

• Festive distortions no longer dictate sales cycles as strongly.

India’s passenger vehicle sector is exiting 2025 with stability, confidence, and unprecedented momentum — built not just on festivals, but on fundamentals.