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AUTO OUTLOOK

Two-wheelers and trucks lead FY27 outlook

Emkay expects these segments to outperform passenger vehicles in India's FY27 market.

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WHAT CHANGED

September retail momentum accelerated

+33% YoY

Two-wheeler retail sales rose year on year in September 2026, according to reports citing Emkay.

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COMMERCIAL VEHICLES

Heavy trucks posted stronger growth

~50% YoY

Medium and heavy commercial vehicle retail sales rose about 50% in September.

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THE CAVEAT

Cars may still grow steadily

The outlook is a relative ranking, not a prediction that passenger-vehicle sales will fall.

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Read: Emkay FY27 outlook favours two-wheelers, commercial vehicles over cars