India's automobile industry recorded a strong rebound in September 2025, with wholesale volumes across all major vehicle segments surpassing expectations, according to a report by ICICI Securities.

The demand revival came after the Goods and Services Tax (GST) reduction on September 22, which lifted both retail and wholesale momentum across the sector. In the two-wheeler segment, Hero MotoCorp posted an eight per cent year-on-year increase with around 6.87 lakh units sold, supported by strong scooter sales. TVS Motor registered a 12 per cent rise to 5.41 lakh units, including over 31,000 iQube electric scooters, reflecting continued growth in the electric vehicle space.

Bajaj Auto's total volumes grew nine per cent to 5.11 lakh units, aided by a 15 per cent rise in three-wheeler exports.

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