MAM
Auto retail hits record February with 24.09 lakh units
Overall sales surge 25.62 per cent YoY, 2W, PV, CV, 3W and tractors set new February highs.
MUMBAI: February 2026 just floored the accelerator because when auto retail clocks its best-ever month, even the showroom floors feel the need for speed. The Federation of Automobile Dealers Associations (FADA) released February 2026 retail data on 5 March, revealing a landmark performance across segments. Total vehicle retails reached 24,09,362 units, up 25.62 per cent year-on-year, marking the strongest February on record for overall retail, two-wheelers (17,00,505 units, +25.02 per cent), passenger vehicles (3,94,768 units, +26.12 per cent), commercial vehicles (1,00,820 units, +28.89 per cent), three-wheelers (1,17,130 units, +24.39 per cent) and tractors (89,418 units, +36.35 per cent). Construction equipment was the lone exception, dipping 1.22% YoY to 6,721 units.
FADA president C S Vigneshwar said, “Feb’26 has turned out to be a landmark month for the Indian auto retail sector, further strengthening the positive momentum seen after the GST 2.0 announcement. Despite being a shorter month, the industry delivered an exceptional performance.”
Growth was broad-based. Two-wheelers saw urban markets rise 28.96 per cent YoY and rural 22.16 per cent YoY, driven by improved rural liquidity, attractive schemes and the marriage season. Passenger vehicles showed rural growth (34.21 per cent YoY) outpacing urban (21.12 per cent YoY), supporting small-car demand alongside continued SUV strength. Commercial vehicles benefited from freight availability, e-commerce activity and infrastructure push.
Inventory signals improved significantly in passenger vehicles, with levels dropping to 27–29 days closer to FADA’s recommended 21-day benchmark indicating healthier wholesale-retail alignment.
Looking ahead, dealer sentiment remains positive. For March 2026, 75.51 per cent of dealers expect growth, 19.90 per cent foresee stability and only 4.59 per cent anticipate decline, supported by festivals (Navratri, Ramzan, Ugadi, Gudi Padwa, Eid) and financial year-end buying. Over the next three months (March–May 2026), 67.35 per cent expect growth (down from earlier optimism), 27.55 per cent flat and 5.10 per cent de-growth, pointing to a shift from sharp rebound to more stable expansion.
In a market where every segment is revving up, February 2026 didn’t just break records, it proved that when policy tailwinds meet rural recovery and retail discipline, the Indian auto story accelerates into overdrive.
Brands
Tessolve lands a semiconductor veteran to drive its next big push
Ravi Kumar Chirugudu, who started his career at ISRO and has spent 35 years building chips and companies, joins the Bengaluru-based firm as president and chief operating officer
BENGALURU: Tessolve has never been shy about its ambitions. The Bengaluru-based engineering services firm already counts 18 of the world’s top 20 semiconductor companies among its clients, employs more than 3,500 engineers across 12 countries, and last year pocketed a $150m investment from TPG. Now it has hired the executive it believes can turn those assets into something bigger. Ravi Kumar Chirugudu, a 35-year semiconductor veteran who once built satellite payloads for ISRO and has since scaled engineering organisations across three continents, joins as president and chief operating officer, effective immediately.
THE MAN AND THE MANDATE
The appointment is, by any measure, a serious hire. Ravi Kumar Chirugudu comes to Tessolve after senior leadership stints at HCL Technologies, Altran and Wipro, where he managed large profit-and-loss portfolios and oversaw cross-regional teams. Over the course of his career, he has been instrumental in bringing more than 1,000 new products to market across the high-tech, energy and manufacturing verticals. Before the private sector claimed him, he began his working life as a scientist at the Indian Space Research Organisation, contributing to research and development in charge-coupled device technology and satellite payloads, a foundation that shaped everything that followed.
In his new role, he will lead Tessolve’s global growth strategy: expanding its engineering capabilities, deepening customer relationships and accelerating innovation across semiconductor and high-performance computing domains. The brief is broad, but the context is specific. Tessolve operates in the $550 billion global semiconductor market, and its recent moves, the acquisition of Germany’s Dream Chip Technologies and the TPG funding round, have sharpened both its reach and its expectations.
Srini Chinamilli, co-founder and chief executive of Tessolve, is characteristically direct about why Ravi Kumar Chirugudu was the choice:
“As we scale our global semiconductor and system engineering capabilities, Ravi’s appointment marks an important step forward. As global semiconductor demand continues to accelerate across industries, it is creating significant opportunities across the semiconductor lifecycle, from design, packaging, validation and systems integration. Ravi’s deep knowledge and leadership in this ecosystem brings the right mix of industry expertise, customer connect and execution capability, which will play a key role in strengthening our position as a trusted global engineering partner and reinforcing our market leadership.”
THE NEW ARRIVAL SPEAKS
Ravi Kumar Chirugudu, for his part, frames the move in terms of timing and culture, two factors that veteran executives tend to weigh as heavily as title or compensation:
“I am happy to join Tessolve at a time when the industry is rapidly evolving towards more complex, AI-driven systems. What stands out to me is its strong people-first culture and its commitment to bringing value to its customers. The strength of its global team, combined with its deep expertise in semiconductor innovation and next-generation product engineering, creates a solid foundation to build differentiated, scalable solutions. I look forward to working closely with the team to drive strategic growth and strengthen its role in shaping the global semiconductor ecosystem.”
The reference to AI-driven systems is not incidental. The semiconductor industry is in the midst of a structural reshaping, driven by the insatiable compute demands of artificial intelligence. For engineering services firms like Tessolve, which offers end-to-end capabilities from silicon design to packaged parts and invests in high-performance computing, high-speed interfaces, photonics and 5G, the moment is both an opportunity and a test. The company says it is well positioned to capture the next wave of industry growth. Ravi Kumar Chirugudu is now the person who has to prove it.
He came in from outer space, literally, and spent three decades learning how the semiconductor industry works from the inside out. Now Tessolve is betting that accumulated knowledge can help it cross the next frontier. In the $550 billion global chip market, the gap between ambition and execution is measured in engineering hours and leadership quality. Tessolve has just gone shopping for both.
