Ashok Leyland, Maruti Suzuki to Force Motors: Auto stocks rise up to 5% after release of May SIAM data
SML Mahindra share price was the top performer with more than 5% gain, followed by Force Motors, Ashok Leyland, Maruti Suzuki India and TVS Motor Company shares rising over 4% each.
Maruti Suzuki, Ashok Leyland, Force Motors, SML Isuzu, among other auto stocks rallied up to 5% on Monday, after strong auto wholesales data from the industry body. The surge in auto stocks also followed a broader rally in the Indian stock market, boosted by the US-Iran peace deal optimism.
SML Mahindra share price was the top performer with more than 5% gain, followed by Force Motors, Ashok Leyland, Maruti Suzuki India and TVS Motor Company shares rising over 4% each.
Other significant gainers included Mahindra & Mahindra (M&M), Eicher Motors, Hyundai Motor India, Tata Motors Passenger Vehicles, and Hero MotoCorp shares, jumping 2%-3% each.
The rally in auto stocks lifted the Nifty Auto index by over 3%, and the BSE Auto index by over 2.9%.
Meanwhile, the benchmark NSE Nifty 50 was up over 1% to above 23,900 level, while the BSE Sensex was trading more than 1% higher at around 76,500 level.
Auto Sales Data
Passenger vehicles (PV), two-wheelers and three-wheelers recorded the highest ever sales of May in 2026, with high double-digit growth in each segment, as demand improved due to reduced GST rates and easier financing.
Overall vehicle wholesales across categories in May grew 16.8% at 23,52,693 units as compared to 20,14,158 units in the same month last year, industry body SIAM said.
Domestic passenger vehicle (PV) dispatches from companies to dealers rose 27.3% year-on-year (YoY) to a record 4,38,854 units in May this year from 3,44,656 units in May 2025.
In the PV segment, utility vehicles sales grew 24.8% to 2,45,549 units from 1,96,821 units in May last year. Passenger car dispatches rose 28.8% to 1,20,975 units last month as compared to 93,951 units in the year-ago period.
“Lower base effect of previous May and demand created due to reduced GST rates, with easier financing, is again getting reflected in higher offtake this month,” said SIAM Director General Rajesh Menon.
Total two-wheeler sales rose 14.8% to 19,02,209 units last month as against 16,57,116 units in May last year. In the two-wheeler segment, motorcycle sales in May 2026 were up 7.2% at 11,13,973 units as against 10,39,156 units in the year-ago month. Scooter sales witnessed growth of 27.4% YoY at 7,39,667 units.
Three-wheeler dispatches to dealers increased 31.1% last month at 70,720 units from 53,942 units in the year-ago period.
(With inputs from PTI)
About the Author
Ankit Gohel is the Deputy Chief Content Producer at Livemint, specialising in financial markets, macroeconomics, and regulatory developments. With a strong focus on equity markets, primary issuances, and policy-driven market movements, he brings clarity to complex financial developments for investors and market participants. <br><br> With nine years of experience in business and financial journalism, Ankit’s approach is rooted in the belief that market reporting should go beyond headlines — connecting data, policy, and ground realities to deliver actionable insights. His work consistently bridges the gap between institutional analysis and investor understanding. <br><br> Ankit has spent three years at Livemint, where he currently helps drive market coverage, editorial strategy, and high-impact financial stories. Prior to this, he worked with leading business news networks such as CNBC-TV18, ET Now, TickerPlant News Service where he built deep expertise in stock market analysis, macroeconomic trends, primary markets, and coverage of key regulators including the RBI and SEBI. <br><br> Over the years, he has covered market cycles across bull and bear phases, IPO booms, liquidity shocks, and major policy shifts that reshaped investor sentiment. He has interviewed fund managers, corporate leaders, and policymakers, translating their perspectives into sharp, data-backed narratives. Ankit combines speed with accuracy — ensuring timely, credible, and insight-driven financial journalism that empowers both retail and institutional audiences.
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