India Projects 50 Million Vehicle Units by 2030

India is projected to increase total vehicle production from 34.71 million units in FY26 to 50 million units by 2030, with a long-term goal of 200 million units by 2047 under the Automotive Mission Plan 2047. According to a report by Rubix Data Sciences, India became the third-largest global automobile market in 2025. The shift is characterized by a strong preference for SUVs and crossovers, which accounted for 65% of passenger vehicle sales in FY25.

This growth is supported by the PLI Scheme, GST 2.0 tax reductions, and lower repo rates from the Reserve Bank of India. Exports reached a record 0.77 million units in FY25, with Maruti Suzuki India Limited reporting a 34 percent surge in exports to 4.47 lakh units in FY26.

Despite these gains, the sector faces significant headwinds. Tushar Bhaskar, President of Rubix Data Sciences, cautioned that the industry is entering a phase of scale where growth may outrun risk management. Specific vulnerabilities include raw material price volatility, tightening emission standards, and supply chain instability in West Asia.