New Delhi: The Indian automobile industry is heading into the second half of FY26 with cautious optimism, as festive stocking, reduction in GST rates, and income tax relief are expected to boost consumer demand, a report said on Monday.

Meanwhile, September sales data reflected a mixed trend — with strong growth in two-wheelers, three-wheelers, commercial vehicles, and tractors, even as passenger vehicle volumes slipped on a Year-on-Year (YoY) basis, Axis Securities highlighted.

Two Wheeler/Three Wheeler (2W/3W) Segment: Domestic two-wheeler sales rose 6 per cent YoY and 18 per cent month-on-month (MoM), supported by strong performances from Royal Enfield (43 per cent YoY), Suzuki Motorcycle (37 per cent YoY), and TVS Motor (12 per cent YoY).

Exports remained firm, rising 17 per cent Yo

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