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Record 599,000 cars, SUVs exported in April-November, upcoming Mexico tariff hike casts a shadow

Ajit Dalvi — Tue, 16 Dec 2025 12:45:41

Led by Maruti Suzuki, overseas shipments of made-in-India cars, sedans, SUVs and MPVs have hit a new high of nearly 600,000 units in the first 8 months of FY2026. As per SIAM export sales data, 599,276 passenger vehicles were dispatched to key global markets, up by a strong 20% YoY (April-November 2024: 498,763 units), which translates into an additional 100,513 units.

With four months left to go in the current fiscal year, this performance puts the PV industry in close sight of the highest export total yet: 770,364 units in FY2025. In the first eight months of FY2026, monthly PV exports have crossed the 80,000-units mark thrice: September (87,762 units), November 84,646 units) and August (82,246 units).

However, the recent decision by Mexico, which is India’s third-largest PV export market after South Africa and Saudi Arabia, to substantially raise import tariff on made-in-India PVs to 50% from 20% starting January 1, 2026, will cast a shadow over the future rate of growth of made-in-India PV exports. Mexico, which imported around 194,000 cars and SUVs from India in FY2024, accounted for 25% of the record 770,364 PVs shipped overseas last fiscal. This represents business worth $1.9 billion (around Rs 15,800 crore).

Saharsh Damani, CEO, Federation of Automobile Dealers Associations (FADA), has called Mexico's new 35-50% tariff on Indian automobiles a "serious challenge" as the Latin American country prepares to implement duties on imports from countries without free-trade agreements (FTAs) from January 1, 2026. "Industry and government's task is cut out as they need to swiftly activate their diplomacy to set things right," said Damani.

The stiff tariff increase will expectedly adversely impact major Indian automakers across both the PV and two-wheeler markets. According to Damani, Maruti Suzuki India exports 66,000-70,000 units annually to Mexico — representing 22-25% of its total exports — including popular models like the Baleno, Swift, Dzire, and Brezza. Hyundai Motor India ships 25,000-30,000 units including the Grand i10 Nios, Aura, Venue, and Creta, while the Volkswagen Group ships 55,000-60,000 units of the Virtus, Slavia, Taigun, and Kushaq. Nissan India also exports several thousand Magnite SUVs, sold as the Kicks in Mexico.

Let’s take a quick look at how India’s 16 PV exporters have fared in the April-November 2025 period.

With exports of 282,749 PVs in the past eight months, Maruti Suzuki has already achieved 86% of its record FY2025 shipments. The company is eyeing an 400,000 export milestone in FY2026.

Maruti Suzuki India, India’s No. 1 passenger vehicle exporter for the past four fiscals, has taken a strong lead in FY2026 with shipments of 282,749 units, up 36% YoY. The car, SUV and MPV manufacturer, which exported a record 330,081 vehicles in FY2025, has already achieved 86% of that in the first eight months of the current fiscal. Maruti Suzuki is targeting 400,000 vehicle exports in FY2026, but Mexico’s upcoming stiff hike in tariffs could prove to be a dampener since the country is a leading market in the key Latin American region. Mexico, along with Africa, Japan, Chile and Saudi Arabia are key growth markets for the company.

In April-November 2025, while Maruti’s car exports rose 32% YoY to 135,358 units, demand for its SUVs and MPVs jumped 39% YoY to 140,601 units. This strong performance is reflected in export market share which has risen to 47% from 42% a year ago.

Hyundai Motor India has exported 132,142 units, up 18% YoY. This total comprises 112,271 cars and sedans, up 22% YoY, and 19,871 SUVs, down 1.48% YoY. The Verna sedan, now in its sixth generation, continues to be its best export model – the 44,315 units exported are a 24% YoY increase. In FY2025, Hyundai had exported 52,615 Vernas.

Nissan Motor India, ranked No. 3 on the PV exporter scale, has shipped 51,676 vehicles in the past eight months, up 22% and sees a resultant increase in export market share to 9% from 8% a year ago. While demand for the Sunny sedan is down sharply by 46% YoY (April-November 2024: 34,556 units), that decline is more than made up by the 330% YoY increase in export sales of the Magnite SUV. Nissan India has shipped 32,991 Magnites, an additional 25,331 units (April-November 2024: 7,660 Magnites) catering to both left-hand-drive and right-hand-drive markets. Like Maruti and Hyundai, key export regions for Nissan India include Africa, the Middle East, Latin America. Southeast Asia is also a growing market for the Magnite. India is a global manufacturing hub for the Magnite, whose export sales (32,991 units) outstrip domestic market sales (13,379 units in April-November 2025, down 28% YoY)

Volkswagen India, with exports of 31,207 units, is down 14% YoY which sees its market share reduce to 5% from 7% a year ago. Demand is down 13% YoY (22,539 units) for its main model – the Virtus sedan as well as for the Taigun SUV at 8,668 units, down 17% YoY.

Toyota Kirloskar Motor has risen one rank to No. 5 with 25,182 vehicle exports, up 56% YoY. This mainly due to strong demand for the Hyryder midsize SUV whose sales are clubbed with the Rumion MPV (25,100 units, up 55% YoY). The company also shipped 77 Innova MPVs and five other SUVs.

Kia India has seen a 3% increase in exports to 19,478 units comprising 9,787 units of the Sonet and Syros compact SUVs, 5,095 Carens MPVs, and 4,596 Seltos midsize SUVs.

Honda Cars India, which was the No. 2 PV exporter a year ago, has slid to No. 7 with 19,351 units, down sharply by 54% YoY (April-November 2024: 42,030 units). This is mainly due to the 64% fall in export demand for the Elevate midsize SUV to 11,152 units from 30,813 units a year ago. Honda also exported 7,536 City and 663 Amaze sedans, whose sales are also down year on year.

Mahindra & Mahindra, which is on a roll in the domestic market and set to achieve 600,000 sales in both CY2025 and FY2026v, has also witnessed strong export sales. At 14,398 units, exports are up 85% YoY. Shipments of its compact SUVs led by the 3XO rose 160% YoY to 10,614 units. Exports of midsize SUVs (Scorpio, Thar Roxx, XUV700 and Bolero Neo) were down 3% to 3,484 units. M&M also exported 262 units of the BE 6 and XEV 9e electric SUVs.

Renault India has exported 10,485 vehicles in the past eight months, up 48% YoY. This comprises 5,965 units of the Kiger and Triber SUVs, and 4,520 Kwid hatchbacks.

Will Mexico, which itself is a target of American president Donald Trump’s high tariffs, reduce the proposed 50% tariff on Indian-made goods and vehicles? That’s difficult to say but it is understood that a number of Indian business and trade bodies including apex auto industry association SIAM have urged the Indian government to call upon Mexico to maintain the status quo on vehicle tariffs.

ALSO READ: SUV and Car Makers Sell 388,000 Units in November, Mahindra Regains No. 2 Position From Tata

TVS leads electric 2W market in first-half December, industry sales cross 1.2 million in CY2025

Ajit Dalvi — Tue, 16 Dec 2025 12:42:29

The first fortnight of the last month of CY2025 has seen the Indian electric 2-wheeler industry cross the 1.2 million units mark for the first time. At 47,205 e-scooters, e-motorcycles and e-mopeds delivered, the retail sales in the past 15 days are somewhat slow though compared to the past couple of months, which can be attributed to new e-2W buyers delaying their purchase to the new year 2026.

Nevertheless, with 16 days still left to go before CY2025 turns into CY2026, this December could yet turn out to be the best year-ending month for the e-2W industry, beating the previous best (December 2023: 75,950 units). The gap at present is 28,745 units, which should be surpassed in the last week of the month.

Meanwhile, cumulative sales from January 1 to December 15 at 12,29,356 units are up 7% YoY, pointing the industry towards total CY2025 sales of a record 1.25 million units.

The Indian e-2W industry is headed for record annual retail sales of over 1.25 million units in CY2025.

TVS Motor Co, which wrested back the No. 1 e-2W OEM title from Bajaj Auto in November, maintains its numero uno position with 13,297 units. It is the only e-2W manufacturer to have sold in excess of 10,000 units and is ahead of Bajaj Auto by 3,773 units. While the iQube remains its main sales force, the company has begun the phased rollout of the new Orbiter e-scooter. Priced at Rs 99,900 (ex-showroom Bengaluru), inclusive of PM E-Drive Scheme subsidies, Orbiter sales have commenced in Karnataka and the company is now expanding into Maharashtra. This pricing places the Orbiter — which has a 3.1 kWh battery pack — on par with the base iQube variant that features a smaller 2.2 kWh battery pack. The Orbiter, which has a top speed of 68kph, is designed for urban commuting and has an IDC range of 158 km per charge.

Bajaj Auto has delivered 9,524 Chetaks to new buyers in the December 1-15 period. The company, which currently sells the Chetak and Yulu e-scooters is readying the launch of a brand-new model early in CY2026, which could mean potential Chetak buyers would be awaiting that model. Bajaj Auto continues to expand its Chetak network, which now stands at 390 exclusive stores and 4,000 points of sale in 800 cities.

Ather Energy, which has made the No. 3 position its very own has retailed 8,376 e-scooters in the past fortnight. This puts it 1,148 units behind Bajaj Auto. The e-2W start-up, which is fast reducing the sales gap with the Puune-based legacy OEMs, continues to witness surging demand for its Rizta family scooter, which recently surpassed cumulative sales of 200,000 units and accounts for 70% of monthly volumes which include the 450X or 450S models. The company has reported strong sales traction for the high-range (160km) options on the 450S and Rizta S, which has helped expand sales and market share. What’s more, the Battery as a Service (BaaS) option has enabled a reduction of the upfront price of the Rizta S to Rs 76,000, making the premium family scooter far more affordable.

Hero MotoCorp, which outsold Ola Electric for the first time in November to take the No. 4 position, has delivered 5,418 units. The world’s largest two-wheeler manufacturer continues to be an EV newsmaker as a result of the robust demand for its new Vida VX2 model. The company looks set to exceed the 10,000-units mark in December, which will make for six straight months of 10,000-plus e-scooter sales for Hero MotoCorp and its Vida e-2W brand including the highest in October 2025 (16,014 units).

Ola Electric, as in November. is currently ranked No. 5 with retail sales of 3,079 units in the December 1-15 period. Clearly, Ola Electric will have to come up with an aggressive sales and product strategy if it is to regain the vigour and shine it had displayed not very long ago as the e-2W market leader. Earlier this month, the company began deliveries of vehicles equipped with its indigenously manufactured 4680 Bharat Cell battery packs. The S1 Pro+ scooter with a 5.2kWh battery is the first product to use these domestically produced cells, making Ola Electric the first Indian company to control both cell and battery pack manufacturing internally.

Greaves Electric Mobility (GEM), the EV arm of Greaves Cotton which markets the Ampere brand of e-scooters, remains the firm No. 6 on the OEM ranking list with retails of 1,939 units. GEM and Ampere Vehicles, which are witnessing a revival of demand driven by new products like the Nexus, Magnus Neo and the Grand, recently surpassed cumulative retail sales of 250,000 units.

Bgauss Auto, a Mumbai-based startup spawned by electrical solutions major RR Kabel, is ranked seventh amongst the Top 10 e-2W OEMs with 894 units of the RUV 350 and Max C12. Bengaluru-based River Mobility, now rebranded River EV, which has a single product – the River Indie – is now a regular fixture in the Top 10 e-2W listing. It gets eighth rank with 857 units.

Quantum Energy, which has recently partnered with battery swapping solutions provider Indofast Energy to power its new Bziness XS electric scooter, takes ninth position with 375 units, and electric motorcycle maker Revolt Motors wraps up the Top 10 list for the December 1-15 period with 298 units.

TVS leads electric 2W market in first-half December, industry sales cross 1.2 million in CY2025

Ajit Dalvi — Tue, 16 Dec 2025 12:42:29

Meanwhile, cumulative sales from January 1 to December 15 at 12,29,356 units are up 7% YoY, pointing the industry towards total CY2025 sales of a record 1.25 million units.

The Indian e-2W industry is headed for record annual retail sales of over 1.25 million units in CY2025.

Scooter Sales Cross 5 Million in April-November, EVs help TVS, Hero, Ather Grow Market Share

Ajit Dalvi — Sat, 13 Dec 2025 11:29:07

With 1.94 million scooters, motorcycles and mopeds sold last month, November 2025 turned out to be the best-ever November for the Indian two-wheeler industry. While motorcycles (1.16 million units, up 17% YoY) continue to command the bulk of 2W sales, the share of scooters (735,753 units, up 29% YoY) has risen while that of bikes has fallen. In November 2025, the scooter share of the overall 2W market rose to 38% compared to 35% in November 2025, while that of motorcycles fell to 60% from 62% in November 2025. The humble mopeds accounts for the remaining minuscule share.

Cumulative sales for the first 8 months of FY2026 also paint the same picture. Of the 14.39 two-wheelers sold in April-November 2025, up 3% YoY, the motorcycle share (8.73 million units) is 61% versus 63% in the year-ago period. Meanwhile, the scooter share (5.28 million units) has risen to 37% versus 34% in April-November 2024.

SIAM wholesales data also reveals that 663,850 electric 2Ws were sold in April-November 2025, up 32% YoY (April-November 2024: 502,165 units) translating into the EV share of the overall scooter market increasing to 13% from 10% a year ago. Of the nine SIAM scooter member companies, Piaggio and Yamaha are the only ones without an EV.

Of the nine scooters OEMs, only TVS Motor Co, Hero MotoCorp and Ather Energy have increased their market share with their electric scooters providing a growth accelerator.

HONDA SHARE REDUCES TO 40%, TVS SHARE INCREASES TO 28%

A deep dive into the wholesales performance of the nine scooter OEMs for the past eight months reveals that five – TVS, Suzuki, Hero MotoCorp, Bajaj Auto and Ather – have registered YoY growth while Honda, Yamaha, Piaggio and Okinawa have seen a YoY decline (see SIAM data table above).

Honda Motorcycle & Scooter India, the longstanding monarch of the scooter market, has sold 2.09 million units, which marks a 1% YoY decline. This comprises 20,87,851 units of the Activa, Dio and Dio 125 (down 1% YoY) and 2,539 units of the Activa-e and QC1 electric scooters. As a result of having dispatched 27,978 fewer scooters YoY, HMSI’s market share has reduced to 40% from 44% a year ago.

No. 2 scooter OEM TVS Motor Co has increased its market share to 28% from 25% a year ago. This is the result of dispatching 1.48 million units, up 24% YoY and 283,547 units more than it did a year ago. This total comprises 12,67,788 units of the Jupiter, NTorq and Zest ICE scooters (up 24% YoY) and 217,953 iQube e-scooters, up 23% YoY. The EV share of TVS’ scooter sales has however fallen to 15% from 17% a year ago, what with the substantially increased ICE scooter volume.

Suzuki Motorcycle India, which sells scooters in the form of the 124cc Access, Avenis and Burgman and has revealed the electric avatar of the Access (whose sales have yet to commence), has sold 759,774 ICE scooters in the past eight months. While this marks good 11% YoY growth, Suzuki’s market share remains unchanged at 14 percent.

Hero MotoCorp has increased its scooter market share to 7% from 5% a year ago as a result of dispatching 360,838 units, a strong 42% YoY increase from an additional 105,948 units. This total comprises 269,437 units of the Destini, Maestro and Pleasure, 1,704Xooms and 89,697 Vida e-scooters. While the ICE scooters have posted a 25% YoY increase, the zero-emission Vida V2 and V2X have clocked handsome 178% YoY growth, thereby contributing to the company’s increased scooter market share.

India Yamaha Motor, ranked fifth on the OEM scale with 210,170 units, is down 4% YoY and witnesses a resultant drop in its scooter share to 4% from 5% a year ago.

Bajaj Auto, which is in the scooter market because of its Chetak and Yulu electricscooters, dispatched 194,148 units, up 5% YoY, albeit its 4% scooter market share remains unchanged.

Ather Energy continues to ride a wave of demand for its Rizta family scooter, which recently surpassed cumulative sales of 200,000 units in a little over 20 months since launch in July 2024. The company, which also sells the 450S and 450X e-scooters, has registered total wholesales of 159,440 units, up 62% YoY. This gives Ather a 3% scooter market share versus 2% a year ago.

Italian scooter maker Piaggio Vehicles, with 20,891 units, posted a 2% YoY decline, which sees its market share reduce to 0.39% from 0.44% a year ago.

SCOOTER INDUSTRY HEADED FOR RECORD 7 MILLION SALES IN FY2026

Powered by best-ever monthly sales of 824,003 units in October 2025, the Indian scooter industry, which hit record wholesales of 6.85 million units in FY2025, seems well set for another mega fiscal in FY2026. Eight months into the current fiscal year, at 5.28 million units, the segment is 1.57 million units away from the record FY2025 total. Given the current strong and sustained growth, and having averaged monthly sales of 660,183 units, this segment is well set to achieve the 7 million sales mark for the first time in FY2026.

ALSO READ:Hero Vida Races Past 100,000 Sales in a Year for the First Time

TVS Tops E-2W Sales for Seventh Time This Year in November, Hero Vida Races Past Ola

EV Sales Cross the 2 million Mark for the First Time

Scooter Sales Cross 5 Million in April-November, EVs help TVS, Hero, Ather Grow Market Share

Ajit Dalvi — Sat, 13 Dec 2025 11:29:07

Of the nine scooters OEMs, only TVS Motor Co, Hero MotoCorp and Ather Energy have increased their market share with their electric scooters providing a growth accelerator.

HONDA SHARE REDUCES TO 40%, TVS SHARE INCREASES TO 28%

India Yamaha Motor, ranked fifth on the OEM scale with 210,170 units, is down 4% YoY and witnesses a resultant drop in its scooter share to 4% from 5% a year ago.

Bajaj Auto, which is in the scooter market because of its Chetak and Yulu electricscooters, dispatched 194,148 units, up 5% YoY, albeit its 4% scooter market share remains unchanged.

Italian scooter maker Piaggio Vehicles, with 20,891 units, posted a 2% YoY decline, which sees its market share reduce to 0.39% from 0.44% a year ago.

SCOOTER INDUSTRY HEADED FOR RECORD 7 MILLION SALES IN FY2026

ALSO READ:Hero Vida Races Past 100,000 Sales in a Year for the First Time

TVS Tops E-2W Sales for Seventh Time This Year in November, Hero Vida Races Past Ola

EV Sales Cross the 2 million Mark for the First Time

Mahindra, Toyota and Kia surpass their CY2024 sales in first 11 months of CY2025

Ajit Dalvi — Tue, 09 Dec 2025 12:45:17

As accurately forecast in its future growth outlook for the Top 6 passenger vehicle manufacturers, published on October 6, three OEMs – Mahindra & Mahindra, Toyota Kirloskar Motor and Kia India – have become the first of the Top 6 PV OEMs to surpass their record sales of CY2024. Each of this trio has gone past their respective annual sales for last year this November.

The other half comprising Maruti Suzuki India, Hyundai Motor India and Tata Motors have this month (December 2025) to be counted before they surpass their CY2024 total. However, while Maruti Suzuki and Tata Motors, which have already clocked 93% and 94% respectively of their last year’s sales in the first 11 months of CY2025, Hyundai with 87% achieved needs to dispatch another 75,968 PVs this month if it is to exceed its CY2024 total of 605,429 units. And that seems daunting, which means it could be the only one of these six PV OEMs to see a calendar year-on-year sales decline in CY2025.

In CY2024, as per SIAM wholesales data, a total of 4.27 million (42,74,793 units) passenger vehicles were sold, up 4% YoY. Of this, the top six PV OEMs last year – Maruti Suzuki, Hyundai, Tata Motors, Mahindra, Toyota and Kia – accounted for 3.99 million (39,96,671 units) or a 93% share, leaving the balance 7% to be fought over by the 10 other car and SUV manufacturers.

Eleven months into CY2025, the 16 SIAM-member PV OEMs’ estimated wholesales of 4.07 million units are 95% of the CY2024 total, which means India PV Inc needs to sell another 202,000-odd vehicles in December to exceed last year’s record wholesales.

What has helped the segment very close range of the CY2024 total is the highest-ever monthly factory dispatches of 460,739 PVs in festive October which was also the first full month of GST 2.0 which reduced prices of most cars, SUVs and even MPVs and brought pent-up consumer demand to the fore.

The Top 6 OEMs’ combined sales of 38,39,449 hatchbacks, sedans, SUVs, MPVs and vans are a 3.6% YoY increase (January-November 2024: 37,05,002 PVs) and give them a 94% share of the PV market for the past 11 months. Of the six OEMs, five barring Hyundai achieved their highest-ever monthly sales. Let’s take a quick look at this six-pack’s performance.

While Mahindra, Toyota and Kia have already registered record annual sales in the first 11 months of CY2025 itself, Maruti Suzuki, Hyundai and Tata Motors still need their December sales to reach there.

Maruti Suzuki had sold 1.75 million units in CY2024, up 3% (FY2023: 1.70 million units). Now, with 1.62 million units sold in the first 11 months of CY2025 (flat sales of 0%: January-November: 16,25,308 units), which is 93% of last year’s total, the company has to sell an additional 127,558 PVs to surpass that score. This calls for average sales of 158,282 units for each of the next three months. December 2025 should see the PV market leader sell more than the 130,117 units it sold last December. That’s because the GST 2.0-driven rate cuts have helped revive demand in the entry level hatchback market, particularly from town and country. This, along with the sustained demand for most of its eight utility vehicles, should see Maruti Suzuki sell over 150,000 PV in the last month of this calendar year.

The outlier OEM in CY2025 is Mahindra & Mahindra which has risen two ranks from No. 4 in CY2024 to being the current No. 2 PV OEM in CY2025 YTD. The SUV maker, which sold over half-a-million SUVs (528,460 units) for the first time in a calendar year in CY2024 has already gone past that total. Its January-November 2025 wholesales at 574,657 units are a robust 18% YoY increase (January-November 2024: 487,036 units). This translates into an additional 46,197 SUVs sold YoY. This stellar market performance is the result of surging demand for the Scorpio N and Classic, Thar Roxx, 3X0 aas well as fresh contribution from the two Born Electric SUVs, BE 6 and XEV 9e. With strong sales momentum continuing, M&M is well set to drive past the 600,000 annual sales milestone for the first time and register record wholesales of around 610,000 SUVs (up 15% YoY) in CY2025.

Hyundai Motor India, which was the longstanding No. 2 PV OEM till CY2024, is currently ranked No. 3 amongst the Top 6 players. The 529,462 cars and SUVs sold in January-November 2025 are down 6% YoY (January-November 2024: 563,221 units). The company, whose best-seller is also India’s No. 1 midsize SUV (Creta) needs to sell 75,967 PVs in December to be level with its record CY2024 wholesales of 605,429 units. That seems difficult considering its best month this year was October (53,792 units, down 3% YoY) and that the company saw a YoY decline in nine of the past 11 months, barring September and November. This would also mean that Tata Motors, currently No. 4 and just 737 units behind Hyundai, would go ahead to take the No. 3 podium position in CY2025.

Tata Motors has, in the past 11 months, dispatched 528,725 cars and SUVs, up 2% YoY (January-November 2024: 518,238 units). This is 94% of its best-ever annual score in CY2024 (562,468 units) and needs to sell another 33,744 units to achieve that. The company’s EV portfolio (74,219 units, up 8% YoY) has contributed 14% to PV sales and is set to end this calendar year with record sales of over 80,000 units. Expect Tata to sell around 52,000 PVs including EVs this month which would take its CY2025 total to 580,000 units, making it the fourth year in a row that the company has surpassed half-a-million wholesales. And also make it the new No. 3 for CY2025.

Toyota Kirloskar Motor, which has witnessed sustained strong demand for most of its products particularly the Innova Hycross MPV and the Hyryder midsize SUV, has already hit its highest-ever annual sales in the January-November period: 317,110 units. This includes its best-ever monthly sales of 40,247 units, up 43% YoY, in October.

Kia India, with wholesales of 261,627 units and 11% YoY growth (January-November 2024: 236,043 units), is the third OEM to have already registered its highest annual sales, with December numbers yet to be counted. Of its current model portfolio, the Sonet compact SUV is the best-seller, followed by the Carens MPV and Seltos midsize SUV, whose second-generation model is to be globally unveiled tomorrow (December 4).

DECEMBER BIDS FAIR TO BE A HIGH-SELLING YEAR-ENDER

December usually is a month which sees temporary moderation of new vehicle registrations as buyers tend to defer their purchase decision to the new model year. However, plenty of model availability, growing demand for compact SUVs as well as wallet-friendly year-end deals could see the PV industry scale a new high in December 2025.

December 2024 (314,934 PVs) was a 10% YoY increase over December 2023 (286,390 units) and 14% over December 2022 (275,352 units). Will this December surprise with over 330,000 units? Watch this space for the latest sales updates and analyses.

ALSO READ: Utility Vehicle Industry Poised for Record Sales of 2.8 Million Units in CY2025

Hero Vida Races Past 100,000 Sales in a Year for the First Time

Autocar Professional Bureau — Sun, 07 Dec 2025 13:06:18

Hero MotoCorp has, for the first time since entering the electric two-wheeler market over three years ago, sold 100,000 units in a calendar year, confirming Autocar Professional’s forecast of the same in early September. As per the latest retail sales numbers on the Vahan portal, between January 1 and December 5, a total of 100,383 Vida e-scooters were delivered to customers. Also, total sales of Hero Vida e-scooters have crossed 150,000 units since launch in October 2022.

While total sales since the company’s e-2W market entry in November 2022 till December 2024 were 55,033 units, the first 11 months and five days of CY2025 have seen deliveries of 100,383 units or 65% of total sales of 155,416 Vida e-scooters to date.

While CY2025 opened on a tepid note with 1,626 units in January, monthly sales crossed 6,000 units for four straight months (March-June) and then crossed the 10,000-units mark for the first time in July (10,548 units) and maintained that momentum for five straight months.

October (16,017 units) saw the highest number of Hero Vidas sold in the domestic market (see 11-month data table below). This month’s first five days have seen registrations of 1,984 e-scooters for Hero MotoCorp.

The company’s robust performance in a competitive market is amply reflected in the monthly Top 10 e-2W OEM listing where it has been a consistent entry this year. Ranked No. 7 in January, Hero MotoCorp rose to sixth in February, maintained its No. 5 position in March, April, May, June, July, August, September, and October and then wrested No. 4 rank from Ola Electric in November.

Hero MotoCorp has achieved the 100,000-unit annual sales milestone for the first time since it launched the Vida brand in October 2022.

HERO VIDA’S CURRENT MARKET SHARE: 8%

Hero MotoCorp’s 100,383 units in this year to date (up 135% YoY) give it a e-2W market share of 8% from the 1.19 million electric two-wheelers sold in India. The four OEMs ahead of it are market leader TVS (278,596 units, 23% share), Bajaj Auto (254,629 Chetaks, 21% share), Ola Electric (191,384 units, 16% share), and Ather Energy (186,664 units, 15% share). These are the only five OEMs from the 230 players to have sold over 100,000 units each in the current calendar year. The next highest sales belong to No. 5 OEM, Greaves Electric Mobility (52,441 units).

The launch of the VX2 model in July 2025 has delivered accelerated growth for the Hero Vida brand which also has the V2 model in its portfolio.

The strong growth for Hero MotoCorp is the result of two new products, the Vida V2 launched in December 2024 and the Vida VX2 which was introduced in July 2025. The V2 is essentially an evolution of the V1 range that the company began its e-mobility journey a little over three years ago. The Vida V2 with 3.4 kWh battery is available in two variants: Plus (Rs 104,800, 143km range, 85kph top speed) and Pro (Rs 140,300, 165km range, 90kph top speed).

The growth accelerator though has been the new Vida VX2 in July. The base VX2 Go variant, which has a starting price of Rs 73,850, sees its cost sticker drop to an e-2W-rival-worrying price of Rs 44,990 under the Battery-as-a-Service option. The V2X Plus costs Rs 57,990 with BaaS and Rs 94,800 without it.

What differentiates the VX2 Go from the Plus is the removable battery capacity – while the Go has a single removable battery with 2.2kWh and 92km range, the Plus has two batteries with 3.4kWh which deliver 142km range, similar to the Vida V2 Pro. The removable batteries can be charged directly inside the e-scooter or removed and charged indoors. The VX2 can also be juiced up at 4,600 fast-charging stations including the 4,000-strong Ather Grid fast charging network across India.

The VX2’s electric motor develops the same 6kW peak power and 3.9 continuous power and 25 Nm torque as its Vida V2 sibling. While the VX2 Plus goes from 0-40kph in 3.1sec and has a top speed of 80kph, the Go variant accelerates from 0-40kph in 4.2sec and has a top speed of 70kph.

On November 10, Hero MotoCorp expanded the VX2 Go portfolio with a new 3.4kWh battery variant priced at Rs 84,800 (ex-showroom) and Rs 60,000 with the BaaS option. Previously, the VX2 Go was offered only with a 2.2kWh battery, while the larger 3.4kWh unit was exclusive to the VX2 Plus. While the new 3.4kWh variant with dual removable battery system shares its features and hardware with the smaller-capacity version, it delivers a real-world range of 100km on a single charge – 36km more than the 64km range of the smaller-battery version.

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Hero MotoCorp unveils Vida Novus portfolio at EICMA 2025

EV sales in India surpass 2 million units for the first time first 11 months of CY2025

Hero Vida Races Past 100,000 Sales in a Year for the First Time

Autocar Professional Bureau — Sun, 07 Dec 2025 13:06:18

Hero MotoCorp has achieved the 100,000-unit annual sales milestone for the first time since it launched the Vida brand in October 2022.

HERO VIDA’S CURRENT MARKET SHARE: 8%

The launch of the VX2 model in July 2025 has delivered accelerated growth for the Hero Vida brand which also has the V2 model in its portfolio.

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Hero MotoCorp unveils Vida Novus portfolio at EICMA 2025

EV sales in India surpass 2 million units for the first time first 11 months of CY2025

Electric 3-Wheeler Sales Hit Highest Level in November and Cross 700,000 in 11 Months

Ajit Dalvi — Sat, 06 Dec 2025 12:02:20

India’s electric three-wheeler industry, which is the segment witnessing the fastest transition to electric mobility, continues to register robust growth mainly driven by legacy ICE OEMs which have diversified into zero-emission vehicles. In November 2025, the e-3W industry registered record retail sales of 83,682 units, which marks handsome 32% YoY growth (November 2024: 63,400 units).

November sales translate into 2,784 units sold every day and take cumulative January-November 2025 sales to 709,506 units, up 12% YoY. Autocar Professional had accurately forecast the crossing of the 700,000 milestone in November itself. This stellar performance also ensures that India remains the world’s largest e-3W market for the third year in a row, having beaten China in CY2023 for the first time.

Deliveries of e-3Ws crossed the 80,000 mark for the first time in November 2025 and enabled total sales to surpass the 700,000 milestone for the first time.

India e-3W Inc’s robust performance, which is driven by four legacy OEMs – Mahindra & Mahindra, Bajaj Auto, TVS Motor Co and Piaggio Vehicles – has ensured that the India e-3W has raced past the 700,000 retail sales milestone for the first time in a calendar year, surpassing CY2024’s 691,296 units.

Compared to its e-2W and e-passenger vehicle siblings, the e-3W segment is far more resilient. Proof of this is the November sales. While e-2Ws (116,849 units, down 19% MoM) and e-passenger vehicles (14,739 units, down 22% MoM) registered a month-on-month decline versus their record October 2025 sales, the e-3W industry has bucked the trend with an 18.52% month-on-month increase (October 2025: 70,604 -e3Ws).

November sees two of the top three legacy OEMs improve upon their October sales. While market leader Mahindra & Mahindra (10,786 e-3Ws) witnessed a 9% MoM decline, Bajaj Auto registered a 9% MoM increase with best-ever monthly retails of 8,765 units and TVS Motor Co sold seven more units in November (2,871 units), which nevertheless makes for its highest monthly sales for the company which is a recent entrant in the 600-player-strong e-3W market.

Mahindra, TVS and Bajaj Auto Command 27% of November Sales

The electric 3W segment has the largest number of players – over 600 – compared to the two-wheeler, passenger vehicle or commercial vehicle segments. In November 2025, the Top 10 companies sold 36,036 units and accounted for 43% of the record 83,682 units sold last month. Combined e-3W sales of M&M, TVS and Bajaj Auto, which are the top three ICE legacy OEMs, at 22,422 units constitute 27% of November sales. For the first 11 months, these three OEMs’ sales at 176,947 units make for one-fourth or 25% of the total 709,506 units, establishing their grip on the growing market.

Mahindra Last Mile Mobility (MLMM) delivered 10,786 e-3Ws to customers last month, up 51% YoY (November 2024: 7,134 units). This is the market leader’s second-best monthly sales in the year to date after a new high in October (11,863 units) and gives MLMM a 13% market share.

As the first legacy OEM to plug into e-mobility nearly a decade ago, Mahindra & Mahindra and MLMM now offer the largest e-3W portfolio, including the Treo, Treo Plus, Treo Zor, Treo Yaari, Zor Grand, e-Alfa Plus, and e-Alfa Cargo. From January to November 2025, MLMM has clocked sales of 87,806 units, up 40% YoY (January-November 2024: 62,567 units), which gives it a 12% market share for the current year.

Bajaj Auto, which had sold 41,905 units in CY2024 and had a 6% e-3W market share last year, is likely to double its sales in CY2025. January-November 2025 sales (71,025 units) translate into an additional 29,120 units and have risen 88% YoY ((January-November 2024: 37,668 unit), giving the company a current market share of 10 percent.

Monthly sales crossed the 8,000-unit sales mark for the first time in October and have scaled a new high of 8,765 units in November. The company, which has the GoGo brand of passenger and cargo e-3Ws, has recently expanded its portfolio with the Riki e-rickshaw. With December numbers still to be factored, as also the market entry of the Riki e-rickshaw, in both passenger and cargo variants, expect Bajaj Auto to clock total sales of around 82,000-85,000 units in CY2025.

Despite the advance of M&M and Bajaj Auto, third-ranked and longstanding player YC Electric remains a formidable competitor. In November, the company delivered 3,455 units for a 4% market share. The company offers five models: Yatri Super, Yatri Deluxe, and Yatri for passenger transport, and E-Loader and Yatri Cart for cargo operations. YC Electric’s cumulative 11-month sales are 38,269 units which gives it a 5% share of total CY2025 YTD sales.

The No. 4 OEM is TVS Motor Co with 2,871 units — its highest monthly e-3W sales to date — capturing a 3% share of the 83,682 e-3Ws sold in India last month. TVS’ cumulative sales of 18,116 e-3Ws over the past 11 months of CY2025 give it a 2.55% market share of the total 709,506 units. It’s a very creditable performance given that the company has recently entered the market.

Rajasthan-based Saera Electric Auto, which manufactures the nine-model Mayuri brand of electric rickshaws, ranks fifth in the Top 10 list with November sales of 2,274 units but is No. 4 in cumulative 11-month sales (22,923 units) and ahead of TVS (18,116 units). Like several other e-rickshaw makers, Saera Auto has been impacted by the growing presence of legacy OEMs in the e-3W industry.

Sixth-ranked Dilli Electric Auto delivered 2,056 e-3Ws in November, its highest sales this year. The Haryana-based company manufactures electric rickshaws under the CityLife brand — a segment now under pressure as legacy players like MLMM, Bajaj Auto, TI Mobility, and now TVS target it with better-built, safer products.

Ranks 7-10 are comprised of Zeniak Innovation India (1,711 units), JS Auto (1,395 units), Mini Metro Electric Vehicles (1,384 units) and Terra Motors India (1,339 units) respectively.

Legacy OEM Piaggio Vehicles comes in at 11^th position with 1,314 units, which is the fourth highest sales this year after January (1,586 units), October (1,404 units) and March (1,389 units). The company, which has launched two new models under its Apé Electrik range – the Apé E-City Ultra and Apé E-City FX Maxx – in July, has sold 13,509 units between January and November this year for a 2% market share.

Mahindra & Mahindra, TVS and Bajaj Auto, with combined sales of 22,422 units, account for 27% of November’s record sales. TVS and Bajaj have clocked their highest monthly numbers.

Bajaj Auto Electric 3W Sales Scale New High in November, Cross 117,000 Since Launch

Ajit Dalvi — Sat, 06 Dec 2025 11:56:02

Bajaj Auto, India’s market leader in IC-engined three-wheelers and also the No. 1 three-wheeler exporter, has registered its best-ever monthly retail sales in November 2025. The 8,765 units are a 43% YoY jump (November 2024: 6,129 units) and a month-on-month increase of 9% (October 2025: 8,034 units).

As the retail sales data table below reveals, the company’s growth in the current calendar year has been very strong. Bajaj Auto began this year with 5,357 units in January, which fell 14% MoM to 4,588 units in February. Then there were five straight months of MoM growth – March (5,293 units), April (5,509 units), May (6,292 units), June (6,478 units) and July (7,626 units).

Deliveries fell in August (6,256 units) and September (6,827 units) because of a much-slowed-down supply chain for critical rare earth magnets which also impacted production of the Bajaj Chetak electric scooter. With the supply chain issue being resolved, production has come back on track.

Bajaj Auto sold over 8,000 e-3Ws for the first time in October and bettered that with 8,765 units in November. With the new Riki e-rickshaw now on sale, expect numbers to cross 9,000-10,000 soon.

Bajaj Auto Set for Record Sales of Over 80,000 Units in CY2025

CY2025 has turned out to be a record year for Bajaj e-3Ws. Cumulative sales in the first 11 months of this year at 71,025 units are up 88% year on year (January-November 2024: 37,668 units). This gives the company a 10% market share of the 709,506 e-3Ws sold across the country. With December numbers still to be factored, as also the market entry of the Riki e-rickshaw, in both passenger and cargo variants, expect Bajaj Auto to clock total sales of around 82,000-85,000 units in CY2025.

On November 26, the Pune-based company expanded its portfolio with the two-variant Riki model which marks Bajaj’s diversification in the volume electric rickshaw segment. While the passenger Riki P4005, equipped with a 5.4 kWh battery is priced at Rs 190,890 (ex-showroom) and travels a claimed 149km on a single charge, the Riki C4005 cargo model, priced at Rs 200,876 has a certified range of 164km. According to the company, the Riki has been piloted successfully in Patna, Moradabad, Guwahati and Raipur, an exercise which is being expanded to over 100 towns across Uttar Pradesh, Bihar, Madhya Pradesh, Chhattisgarh and Assam in Phase 1.

Bajaj Auto had entered the e-3W market in June 2023 with two products – the RE E-Tec 9.0 passenger EV and Maxima XL Cargo E-Tec 12.0 (replaced by the GoGo e3W brand launched in February 2025). The GoGo e-3Ws, which are aimed to redefine last-mile mobility, for both passenger and cargo operations, constitute the bulk of the company’s monthly sales.

Key GoGO product highlights are a best-in-class range of 248km, a 5-year /120,000km battery warranty, and first-in-class tech features like auto hazard and anti-roll detection. There are two GoGo models for passenger transport (P70s and P50s) and three variants (P5009, P5012 and P7012). While the P5009 has a 9kWH battery, the P5012 and P7012 are equipped with a 12kWh unit.

Bajaj Auto is banking on the Riki’s product attributes of longest range, monocoque chassis, independent suspension and hydraulic brakes to increase driver earnings, offer enhanced passenger safety and comfort as well as reliability.

New Riki To Help Accelerate Monthly Sales

Bajaj Auto’s strategic move to enter the high-volume e-rickshaw market is expected to drive up its monthly numbers. The e-rickshaw category has witnessed rapid expansion after Covid, adding over 45,000 vehicles every month, driven by demand for affordable last-mile mobility. E-rickshaws form a significant part of last-mile mobility feeding metros, suburban rail, and city bus systems. Furthermore, vehicle reliability and safety are increasingly driving e-3W purchase decisions from both driver and passengers.

The company is upbeat about its new electric three-wheeler as well as the growth prospects for the overall 3W business. In an analyst call last month, Rakesh Sharma, Executive Director, Bajaj Auto said: “The recently launched e-rickshaw (Riki) will further strengthen our portfolio and enable us to capture a share of this large profit and revenue pool. We have sold about 500 units of Riki in eight cities and are in the phase of observing acceptance. Early feedback from customers is very positive and it allows us to formulate our go-to-market plan. We intend to scale e-rick in a few months from now.”

“As it is with the surge in exports, manufacturing is operating at peak capacity for three-wheelers and we are now therefore taking steps to build three-wheeler capacity in the next few months, particularly in the e-vehicle segment.”

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TVS Motor sells 18,000 e-3Ws in 11 months, posts new high in November

Utility Vehicle Industry Poised for Record Sales of 2.8 Million Units in CY2025

Ajit Dalvi — Tue, 18 Nov 2025 11:43:58

India’s utility vehicle (UV) segment is firing on all cylinders and how. Driven by the festive season as well as pent-up demand and, importantly, by the GST 2.0 transition which has made most vehicles more affordable, UV wholesales hit a new monthly high of 316,785 units in October 2025, surpassing the 300,000 mark for the first time.

What’s more, the UV share of overall passenger vehicle sales rose to 69% last month – up 4% from the 65% they had in FY2025 when the car and sedan share of PV sales had plunged to 31 percent. The robust YoY growth of 19% last month meant that 10,218 SUVs and MPVs were sold on each of October’s 31 days. Month-on-month growth is also energetic – 26% (September 2025: 250,603 UVs).

With the overall market sentiment up since the GST price cut in the last week of September, dealer body FADA has reported stronger vehicle buyer footfalls and an extremely high conversion rate. The association’s dealer survey has revealed that the momentum from the festive surge is expected to extend into November, albeit with a natural moderation after an all-time-high October.

Passenger and utility vehicle dealers have reported a strong pipeline of undelivered festive bookings, better stock availability, and continued traction from the GST price correction. However, it is only to be expected that December numbers will be somewhat muted in comparison as customers await year-end offers and new model launches.

Ten months into CY2025, the UV industry has registered total domestic market dispatches of 2.41 million units (24,18,564), a 5% YoY increase (January-October 2024: 23,10,392 units). This puts the UV segment 331,368 units short of CY2024 wholesales of 27,49,932 units and 381,436 units away from the 2.8-million mark for the current calendar year.

With two months still to be counted, expect India UV Inc to surpass the 2.8 million mark for the first time this year. While November could see UV OEMs dispatch around 275,000 units, December could see a more muted 200,000-odd units in comparison to the previous two months.

With 2.41 million UVs sold between January-October, India UV Inc needs to sell another 331,369 units to beat CY2024 wholesales of 27,49,932 units. At present, it is 381,436 units away from the 2.8-million mark, which it should achieve in CY2025.

Maruti and Mahindra Command 46% Utility Vehicle Market Share

The Indian UV industry, which has 16 players (barring the luxury OEMs), is dominated by six manufacturers: Maruti Suzuki, Mahindra & Mahindra, Tata Motors, Hyundai Motor India, Toyota Kirloskar Motor and Kia India. Between January and October this year, these six OEMs have dispatched 22,75,661 UVs, up 5% (January-October 2024: 21,61,542 units).

Passenger vehicle market leader Maruti Suzuki also remains the UV market leader. In the first 10 months of CY2025, the company has dispatched 586,173 UVs, down 2% YoY. This gives it a substantial lead of 67,852 units over a hard-charging Mahindra & Mahindra and a current UV market share of 24%, down 2% on the 26% it had a year ago.

The Ertiga, India’s No. 1 MPV, remains Maruti’s best-selling UV with 159,242 units, followed by the Brezza (143,659 units) and Fronx (144,130 units) compact SUVs, Grand Vitara (84,273 units), XL6 (29,944 units), the new Victoris midsize SUV (17,757 units) and the Jimny (4,146 units).

Mahindra & Mahindra has also driven past the half-a-million UV sales mark: 518,321 units, up 18% YoY. M&M, which sold over half-a-million SUVs (528,460 units) for the first time in a calendar year in CY2024 and also in FY2025 (551,487 units), is now headed towards breaking both these records and will surpass the 600,000 milestone for the first time in CY2025. This stellar performance has seen its UV share increase to 21% from 19% a year ago.

While the Scorpio twins remain the largest sellers (145,487 units and a 28% share of M&M UV sales), the Thar and Thar Roxx have become the second best-selling models for M&M (97,092 units, 19% share). The Bolero and Bolero Neo, whose MY2025 models have just been launched, are third (82,915 units, 16% share), followed by the XUV 3XO (estimated 80,007 units, 15% share), flagship XUV700 (74,075 units, 14% share), BE 6 and XEV 9e (36,104 units, 7% share), XUV400 (2,360 units) and the Marazzo MPV (281 units).

Tata Motors, which is set to launch the new Sierra and petrol-engined Harrier, has sold 359,251 UVs in the past 10 months, up 1% YoY. The two compact SUVs – Nexon (158,750 units) and the Punch (138,769 units) – remain its best-sellers and account for 83% of January-October dispatches. The Curvv (25,333 units) is ranked No. 3 and is followed by the Harrier (21,262 units) and Safari (15,137 units). Tata Motors’ market share for the past 10 months is down marginally YoY at 15% but is expected to see an uptick with the new SUV launches. In October 2025, like Maruti Suzuki and Mahindra, Tata Motors also registered its best-ever UV wholesales of 47,318 SUVs, a 19% YoY increase (October 2024: 39,883 SUVs), giving it a 15% share of India UV sales.

Hyundai Motor India, with 333,637 UVs sold between January-October 2025, is ranked fourth in the Top 6 table. This is a 4% sales decline YoY, which sees its UV market share fall to 13.79% from 15% a year ago. The Creta, India’s No. 1 midsize SUV, remains the bulwark of Hyundai sales with 170,624 units and a 51% share of UV sales. The Venue (93,388 units, 28% share) and Exter (56,591 units, 17% share) compact SUVs are No. 2 and No. 3 respectively, followed by the Alcazar (12,217 units), Tucson (676 units) and Ioniq 5 (141 units).

Toyota Kirloskar Motor, which is riding a wave of demand for its UVs, has clocked cumulative 10-month factory dispatches of 242,141 units. This, like M&M, is an 18% YoY increase and gives TKM a market share of 10%, up from the 9% it had a year ago. Topping the model-wise chart are the Innova twins (Hycross and Crysta) with an estimated 92,773 units and a 38% share. The Hyryder midsize SUV, which outsold the two Innovas for the first time in October and clocked its highest monthly sales yet of 11,555 units, has sold 71,295 units in the past 10 months for a 29% share. While the Fortuner SUV has sold an estimated 29,079 units, the Taisor compact SUV has sold 28,634 units and the Rumion MPV 15,728 units in the past 10 months.

Kia India wraps up the Top 6 UV OEM list with 236,138 units, up 10% YoY and a 10% share of UV industry sales in the January-October 2025 period. The Sonet compact SUV is the No. 1 Kia model with an estimated 82,410 units, followed by the Carens MPV (66,962 units) and the Seltos midsize SUV (60,526 units).

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Tata Harrier Sales Cross 150,000, Harrier EV Powers Demand Ahead of Petrol Model Launch

Ajit Dalvi — Mon, 17 Nov 2025 09:32:48

The Tata Harrier midsize SUV, the first Tata model to be built on the Land Rover-derived Omega platform, powered by a Fiat-sourced 2-litre diesel engine, and joined by a zero-emission electric avatar in June this year, has driven past the 150,000 sales milestone in the domestic market.

As per industry wholesales data, cumulative sales of the Tata Harrier from launch in January 2019 through to October 2025 add up to 156,575 units. This SUV’s best fiscal year sales were in FY2023 (30,635 units, up 5% YoY). However, sales fell 19% in FY2024 (24,701 units), when it accounted for 6% of Tata Motors’ UV wholesales of 388,418 units. In FY2025, Harrier demand fell again, by 23%, to 18,989 units. FY2026 could be a different story for the Harrier.

Combined sales of 17,132 units of the diesel Harrier and Harrier EV in April–November 2025 are a strong 41% YoY increase. The upcoming new petrol Harrier will only serve to accelerate demand.

Harrier Hits a New High in October: 4,483 UNITS
The flagship Tata SUV is witnessing a revival of demand particularly since June after the rollout of the Harrier EV, which is based on Tata’s Gen 2 acti.ev architecture and enables an all-wheel-drive system (a first for a Tata in several years).

With both single- and dual-motor options, the Harrier EV is uniquely positioned as a rugged all-wheel-drive, all-electric SUV. It gets two battery pack options – 65kWh and 75kWh – with a claimed range of 538km for the former and up to 627km for the latter.

Within a couple of months of the Harrier EV’s launch, combined diesel and Harrier EV monthly sales crossed the 3,000-unit mark for the first time in August 2025 (3,087 units), followed by two straight months of 4,000-plus wholesales: September (4,181 units) and October (4,483 units).

Between April and October 2025, the Harrier diesel and Harrier EV have together sold 17,132 units, which marks robust 41% YoY growth (April–October 2024: 12,148 units). Of this, 81% of sales (13,967 units) have come in the past four months, which can be attributed to the demand for the Harrier EV.

With its highest monthly sales of 4,483 units in October, the Harrier contributed 7% to Tata Motors’ record PV dispatches (61,134 units) and 9% to its highest UV dispatches (47,318 units). In FY2026’s first seven months, the Harrier (17,132 units) has gone ahead of the Curvv (14,978) and Safari (10,612 units) and is ranked third after the Nexon (111,640 units) and Punch (90,265 units).

Since its launch six years ago, the Harrier’s 2.0-litre diesel engine has seen its power upped to 170hp. The Harrier received a major facelift at the end of 2023, which brought a fresh design, more kit, and an ADAS suite. The Tata Harrier serves as an alternative to a full spectrum of SUVs from the Hyundai Creta and Kia Seltos to the MG Hector, Mahindra XUV700, and Jeep Compass.

In December 2020, the Harrier (as also the Tata Safari) was the first made-in-India SUV to score a 5-star Bharat NCAP crash test rating (adult occupant protection and child occupant protection). In June 2025, the Harrier EV received a full 5-star rating at the Bharat NCAP (BNCAP) crash tests, scoring full points in adult occupant protection (32/32) and 45 out of a total of 49 points in child occupant protection.

While the 11-variant diesel Harrier is priced from Rs 17.89 lakh through to Rs 30.92 lakh (on-road Delhi) for the top-end Fearless X+ AT, the six-variant Harrier EV’s pricing starts at Rs 22.97 lakh and goes up to Rs 30.83 lakh.

Petrol Harrier will get the 1.5-litre four-cylinder direct-injection turbo-petrol unit, which is part of Tata’s ‘Hyperion’ engine series.

Harrier Finally Gets Petrol Power
What will add tailwinds to the Harrier’s current growth trajectory is the upcoming launch of the petrol-engined model on December 9, thereby filling the gap in the Harrier’s powertrain options. While the new and recently unveiled Tata Sierra will be the first to get the 1.5-litre four-cylinder direct-injection turbo-petrol engine, which is part of Tata Motors’ ‘Hyperion’ engine family, the same engine will finally enable the Harrier to take on the petrol competition. Tata Motors’ five-seater flagship SUV rivals include the MG Hector and Jeep Compass, and the three-row version takes on the Mahindra XUV700, Hyundai Alcazar, and Jeep Meridian.

With the Harrier EV witnessing strong customer demand and the petrol Harrier set to enter the market soon, will the Tata Harrier drive past its highest 12-month sales of 30,635 units of FY2023? With five months still left in FY2026, the flagship Tata SUV needs to sell another 13,504 units to do so. Expect the Harrier to cross the 5,000-unit monthly wholesales mark for the first time, most probably in the next couple of months. Watch this space for the latest and exclusive sales newsbreaks and analyses.

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TVS regains e-2W lead in first-half November, Hero Vida outsells Ola Electric

Ajit Dalvi — Sun, 16 Nov 2025 21:23:07

The gripping battle for leadership in India’s electric two-wheeler industry is turning even more intense. Fifteen days after it lost the e-2W crown in October to Bajaj Auto, TVS Motor Co has wrested it back. As per the latest Vahan retail sales statistics, TVS has sold 15,344 iQube e-scooters between November 1-15 – that’s 1,627 units more than Bajaj Auto (13,717 Chetaks).

As is known, festive October with 144,315 units sold was the best-ever month for e-2W OEMs in India. Last month was also when TVS Motor Co (29,586 i-Qubes), which had topped retail sales right from April through to September, was dethroned by Bajaj Auto (31,337 Chetaks). TVS’ reduced deliveries in October were attributed to iQube production constraints caused by slower supplies of (rare earth) magnets. That issue seems to have now been resolved and production at the Hosur plant is back on track.

TVS though is aiming for a first-mover advantage for e-2Ws in rural India, which is warming up to the concept of zero-emission and wallet-friendly commuting. Speaking in an analysts’ call after the Q2 FY2026 results were announced, KN Radhakrishnan, CEO, TVS Motor Co said: “I'm very sure GST reform is going to help rural (India) and (road) connectivity. I believe that for mobility needs in India, which has a lot of self-employed people, the two-wheeler is the best mobility solution. And rural is the most important driver. I'm very confident that rural will start growing in line with urban.”

TVS, whose main growth driver till now has been the iQube, recently launched the Orbiter e-scooter at Rs 99,900 (ex-showroom Bengaluru), inclusive of PM E-Drive Scheme subsidies. This prices the Orbiter — which has a 3.1 kWh battery pack — on par with the base iQube variant that features a smaller 2.2 kWh battery pack. The Orbiter, which has a top speed of 68kph, is designed for urban commuting and has an IDC range of 158 km per charge. Orbiter sales have commenced in Karnataka and the company is now expanding into Maharashtra.

Between November 1 and 15, TVS has delivered 15,344 e-scooters, which gives it a 25% e-2W market share, ahead of Bajaj Auto’s 13,717 Chetaks and 22% market share.

Bajaj Auto, which won the No. 1 e-2W title in October after a six-month hiatus from the position taken by TVS, is back to being No. 2 with sales of 13,717 Chetaks in the first-half of November 2025. This gives the company a 22% share compared to TVS’ 25 percent. It remains to be seen whether Bajaj Auto will register a speedier rate of sales in the second half of this month as compared to its arch rival if it is to hold onto its crown it regained in October after losing it for a six-month period to TVS.

Ather Energy, which has made the No. 3 position its very own and has kept improving its sales for three months in a row (August: 18,111 units, September: 18,365 units, October: 28,276 units), has delivered 11,400 e-scooters in the November 1-15 period – 3,944 e-2Ws behind TVS and 2,317 unts behind Bajaj Auto. The e-2W start-up, which is fast reducing the sales gap with the two legacy OEMs, continues to witness surging demand for its Rizta family scooter, far more than than that for the 450X or 450S models.

The big news of the first fortnight of November though is Hero MotoCorp’s Vida brand moving into No. 4 position, ahead of Ola Electric. As per Vahan, the company has delivered a total of 5,688 Vida e-scooters in the past 15 days, 939 units more than Ola Electric (4,749 units), which give it a 9% market share – 1% more than Ola. The world’s largest two-wheeler manufacturer continues to be an EV newsmaker as a result of the robust demand for its new Vida VX2 model. October 2025 (15,994 units) was its highest monthly sales and marked four straight months of 10,000-plus units.

Ola Electric, with retail sales of 4,749 units in the November 1-15 period, is currently ranked No. 5 in the e-2W OEM market. This gives Ola a market share of 8% for the first fortnight of this month. The company, which manufactures and sells both e-scooters and e-motorcycles, had opened CY2025 with 24,411 units in January, which remains its highest monthly sales in the year to date. Cumulative retail sales from January 1 to November 15 at 186,532 units are far fewer than TVS (258,375 units) or Bajaj Auto (238,937 units) and just 12,140 EVs more than Ather Energy (174,392 units) in the same period. Clearly, Ola Electric will have to come up with an aggressive sales and product strategy if it is to regain the vigour and shine it had displayed not very long ago as the e-2W market leader.

Greaves Electric Mobility (GEM), the EV arm of Greaves Cotton which markets the Ampere brand of e-scooters, remains the firm No. 6 on the OEM ranking list with retails of 3,224 units. GEM and Ampere Vehicles, which are witnessing a revival of demand driven by new products like the Nexus, Magnus Neo and the Grand, recently surpassed cumulative retail sales of 250,000 units. October 2025 (7,630 units) are its highest monthly total this year. Will November 2025 go beyond that? We have to wait another 15 days to find out.

Bgauss Auto, a Mumbai-based startup spawned by electrical solutions major RR Kabel, is ranked seventh amongst the Top 10 e-2W OEMs. Bgauss sold 1,607 units of its e-2Ws comprising the RUV 350 and Max C12 in the first fortnight of November.

Bengaluru-based River Mobility, which has a single product – the River Indie – is now a regular fixture in the Top 10 e-2W listing. The 970 units sold in first-half November give it No. 8 position.

Kinetic Green, which sells the E-Zulu, Zing, and the E-Luna, takes No. 9 position with 755 units. The company had hit its highest monthly sales in August (1,514 units). Kinetic plans to up the ante with the launch of a new premium family scooter in CY2026, the first of three models to be launched over the next 18 months. Given that it has a strong manufacturing infrastructure and a 400-strong network of exclusive e-2W dealers across the country, the company is looking to aggressively expand this business operation.

Electric motorcycle manufacturer Revolt Motors, with 636 units, is ranked tenth in this Top 10 listing. The company, which was amongst the earliest to launch an electric motorcycle in India in CY2019, has expanded its portfolio to five products with the RV BlazeX. It also has an aggressive localization programme and uses EV components from Sona Comstar, Uno Minda, Rockman, FIEM and JBM.

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India’s UV Market Records Strong October: 10,218 SUVs and MPVs Sold Daily

Ajit Dalvi — Sat, 15 Nov 2025 12:10:49

October 2025 will stand out as a red-letter month for India Auto Inc when wholesales (factory dispatches) of passenger vehicles as well as two- and three-wheelers hit their highest-ever levels.Driven by the festive season as well as pent-up demand and, importantly, by the GST 2.0 transition which has made most vehicles more affordable, the record PV numbers have been powered by the highest-ever monthly wholesales of utility vehicles (UVs).

As per the data released by apex industry body SIAM yesterday, 16 passenger vehicle (PV) manufacturers dispatched a total of 460,739 cars and UVs in October 2025, up 17% YoY (October 2024: 393,238 units). This mega-total includes 316,785 utility vehicles, up 19% YoY (October 2024: 265,817 units), which translates into the UV share of PV sales rising to 69% last month as compared to 67% in October 2024.

October 2025’s record sales of 316,785 units constitute 10,218 SUVs and MPVs sold on each of the 31 days. Month-on-month growth was also robust – 26% (September 2025: 250,603 UVs).

Six of the top seven utility vehicle OEMs registered their highest-ever monthly wholesales in October 2025. The 316,785 UVs accounted for 69% of the record 460,739 passenger vehicles sold last month.

MARUTI SUZUKI LEADS BUT MAHINDRA DISPLAYS STRONGER GROWTH

If the overall PV segment clocked its best-ever monthly score in October 2025, it’s also because Maruti Suzuki – the bellwether of India PV Inc – registered its highest monthly dispatches: 176,318 units, up 10% YoY. While utility vehicles (77,571 units, up 10%) accounted for a 44% share, hatchbacks and sedans (85,210 units) had a 48% share and vans (13,537 units) an 8% share.

The Ertiga, India’s No.1 MPV, topped the charts for Maruti with 20,087 units, followed by the Fronx (17,003 units), the new Victoris (13,496 units), Vitara Brezza (12,072 units) and the Grand Vitara (10,409). The other three UVs comprise the XL6 (3,611 units), Jimny (592 units) and the Invicto (301 units). Maruti Suzuki had a 24% share of the UV sales last month.

An aggressive Mahindra & Mahindra, which is hard on Maruti’s heels, sold a record 71,624 SUVs last month, a 31% YoY increase (October 2024: 54,504 units) which gave it a near-23% UV share. The Scorpio N and Classic maintained their No. 1 model ranking for M&M with 17,880 units and a 25% share of October sales. The Bolero brand (14,343 units) went ahead of the XUV 3XO compact SUV (12,237 units) as well as the Thar and Thar Roxx (12,029 units), which can be attributed to the company dispatching the new Bolero and Bolero Neo to its showrooms across India. While flagship XUV700 (10,139 units) takes fifth position and the BE 6 and XEV 9e, which clocked their best-ever monthly wholesales yet (4,842 units) sixth rank. Cumulative 10-month dispatches of the two Born Electric SUVs have crossed 36,000 units and helped M&M drive past the half-a-million SUV sales milestone in the calendar year to date.

Like Maruti Suzuki and Mahindra, Tata Motors too hit its highest monthly sales of both PVs and UVs. While PV dispatches at 61,134 units rose 27% YoY, the company registered its best-ever UV wholesales of 47,318 SUVs, a 19% YoY increase (October 2024: 39,883 SUVs) and gave it a 15% share of India UV sales. This translates into a UV share of 77% in monthly PV sales – the highest yet for Tata Motors – and also facilitated by a growing demand for the electric SUVs Nexon, Punch, Curvv and Harrier.

With 22,083 units, the Nexon, which is sold with diesel, petrol, CNG and electric powertrains, was India’s No. 1 SUV last month and accounted for 47% of Tata UV sales last month. While the Punch sold 16,810 units, its highest in the first seven months of FY2026, the Harrier and its EV sibling sold 4,483 units. The Safari is ranked fourth with 2,510 units and the Curvv fifth with 1,432 units.

No. 4 UV OEM Hyundai Motor India sold 37,704 SUVs, down 1% YoY (October 2024: 37,902 units) for a 12% overall UV share. The Creta remains the company’s best-seller (18,381 units) while the Venue compact SUV is second with 11,738 units last month.

Toyota Kirloskar Motor, which is riding a wave of demand for its UVs, registered its highest monthly UV sales of 33,809 units, up strongly by 43% YoY (October 2024: 23,668 UVs). This gives it an 11% UV market share for October 2025, up from 9% a year ago. The key models that drove TKM’s growth last month are the Hyryder midsize SUV (11,555 units) and the Innova twins (11,089 units) which together comprised 67% of TKM UV sales last month. And the Rumion MPV hit its highest monthly sales: 3,075 units.

Kia India, whose portfolio comprises only SUVs and MPVs, also registered its highest monthly sales since market entry in August 2019. The 29,556 units sold are a 30% YoY increase and give it a 9% share of the India UV market in October 2025. Kia’s best-selling model last month was the Sonet compact SUV (12,745 units), followed by the Carens MPV (8,779 units) which has received a sales boost with the rollout of the new Carens Clavis and the Carens Clavis EV. The Carens Clavis EV also enabled Kia India to achieve its highest monthly retail sales of 658 EVs in October.

Skoda Auto India is also on a roll. The company, which sells the Kushaq, Kodiaq and Kylaq SUVs, along with the Slavia and Superb sedans, clocked highest-ever PV sales of 8,252 units. This includes a best-ever monthly UV score of 6,602 units comprising 5,078 Kylaqs, 1,219 Kushaqs and 305 Kodiaqs for a 2% UV market share last month.

As the 16-UV OEM wholesales data table above reveals, the Top 6 companies – Maruti Suzuki, Mahindra & Mahindra, Tata Motors, Hyundai, Toyota and Kia – with 297,582 UVs sold last month accounted for 94% of October’s record sales of 316,785 units, leaving the remaining 8% to be fought over by the other 10 OEMs.

ALSO READ: Mahindra sells half-a-million SUVs in Jan-Oct, set to surpass 600,000 in CY2025

Hyundai Motor India Posts Flattish Shipments in October 2025

Sarthak Mahajan — Sat, 01 Nov 2025 15:33:19

Hyundai Motor India Limited's October 2025 sales figures paint a nuanced picture of the automaker's performance, showing a slight year-on-year decline even as the company maintains its stronghold in the SUV segment and strengthens its export capabilities.

The Numbers Tell the Story

HMIL achieved total monthly sales of 69,894 units in October 2025, comprising 53,792 units in domestic sales and 16,102 units in exports. When compared to the previous year, this represents a marginal decline from October 2024's total sales of 70,078 units (55,568 domestic and 14,510 exports).

The year-on-year comparison reveals:
- Total sales: Down 0.26% (184 units)
- Domestic sales: Down 3.2% (1,776 units)
- Export sales: Up 11% (1,592 units)

The Export Bright Spot

While domestic sales softened, Hyundai's export performance emerged as a significant positive. The 11% year-on-year growth in exports to 16,102 units underscores the company's strengthening position as a global manufacturing hub. This export momentum builds on the company's exceptional September performance, where exports had surged nearly 44% year-on-year to reach a 33-month high.

The export growth is particularly noteworthy given that October 2024 had already shown healthy export numbers, with a 6.7% year-on-year increase. Sustaining double-digit growth on that base demonstrates robust international demand for Indian-manufactured Hyundai vehicles.

SUV Dominance Continues

Despite the overall decline in domestic volumes, Hyundai's SUV portfolio remained the cornerstone of its strategy. The popular duo of CRETA and VENUE achieved their second-highest ever combined monthly sales of 30,119 units in October 2025.

This is particularly impressive when contextualized against October 2024's performance. Last year, CRETA alone recorded its highest-ever monthly domestic sales of 17,497 units, contributing to total SUV sales of 37,902 units with a 68.2% contribution to domestic sales.

The continued strong performance of the CRETA-VENUE combination suggests that while overall market conditions may have been challenging, Hyundai's core SUV products maintained their appeal to Indian consumers.

The GST 2.0 Factor

A key differentiator between the two Octobers is the policy environment. October 2025 benefited from GST 2.0 reforms, which provided a significant boost to the Indian automotive industry, according to COO Tarun Garg. These reforms, which had already driven September 2025 to achieve the highest-ever SUV penetration in company history at 72.4%, appear to have sustained momentum into the festive season.

In contrast, October 2024's performance was achieved without such policy tailwinds, though it still benefited from strong festive demand. The company had achieved its third-highest domestic and total monthly sales since inception, along with record CNG sales of 8,261 units.

Market Context and Outlook

The marginal decline in domestic sales despite favorable policy conditions and strong festive sentiment suggests broader market pressures—possibly including heightened competition, economic headwinds, or market saturation in key segments.

However, Hyundai's ability to maintain sales within 3% of last year's levels while simultaneously growing exports by double digits demonstrates operational resilience. The company's emphasis on the CRETA-VENUE duo achieving near-record sales indicates that its core products continue to resonate with consumers.

As the festive season concludes and the all-new VENUE enters the market, Hyundai's ability to translate product refreshes into volume growth will be crucial for regaining year-on-year momentum in the coming months.

Hero Motocorp Registers Highest Vida E-2W Sales in October: 15,934 Units

Ajit Dalvi — Sat, 01 Nov 2025 12:52:04

Hero MotoCorp, the world’s largest two-wheeler manufacturer, has registered its best-ever electric scooter monthly sales in October 2025. As per the retail statistics on the Vahan portal (as of November 1), the company has delivered 15,934 Vida e-scooters to customers, surpassing the 10,000-unit monthly sales mark for the fourth month running (see 10-month data table below).

The October 2025 sales are a 117% YoY increase (October 2024: 7,355 units) and beat the company’s previous monthly best of 13,380 units in August 2025. What has made a difference is the launch of the VX2 model in July. As a result, cumulative July-October 2025 sales at 52,679 units account for 61% of the total 10-month sales of 86,084 Vida e-scooters between January and October this year (up 144% YoY, January-October 2024: 35,335 units).

As a result of the record October sales, Hero MotoCorp has also hit a new high in its e-2W monthly market share of 11% of the record 143,713 electric two-wheelers sold in India last month. That’s not all. Hero MotorCorp, which is ranked fifth amongst the Top 10 e-2W OEMs for last month, narrowly missed pipping Ola Electric (16,034 units) by just 100 units.

October 2025’s retail sales of 15,934 units is the best monthly score for Hero MotoCorp’s Vida brand since its market entry in October 2022.

Meanwhile, CY2025 is turning out to be a record year for Hero MotoCorp’s EV business. From the 1,626 units sold in January this year to the 15,934 units in October, Hero MotoCorp is witnessing strong demand led by two new products.

The first of these is the Vida V2 launched in December 2024. The Vida 2 is essentially an evolution of the V1 range that Hero MotoCorp began its electric mobility journey around three years ago. The Vida V2 with 3.4 kWh battery is available in two variants: Plus (Rs 92,800, 143km range, 85kph top speed) and Pro (Rs 120,300, 165km range, 90kph top speed).

The growth accelerator though is the new Vida VX2 in July. The base VX2 Go variant, which has a starting price of Rs 73,840, sees its cost sticker drop to an e-2W-rival-worrying price of Rs 44,990 under the Battery-as-a-Service option. The V2X Plus costs Rs 57,990 with BaaS and Rs 82,790 without it.

Hero Vida Sales Set to Surpass 100,000 Units in CY2025
The Vida brand’s stellar performance has meant that cumulative 10-month retails for the year to date at 86,084 units have nearly doubled year on year and surpassed the 43,709 Vida e-scooters sold in CY2024, when Hero MotoCorp had a 4% market share.

For the January-October 2025 period, the company’s e-2W market share stands at 8 percent. Given the current strong pace of monthly sales, and two more months to go for CY2025 to end, it can be expected that Hero MotoCorp will surpass the 100,000-units annual sales milestone for the first time with ease.

ALSO READ: Ather Energy clocks best-ever monthly sales in October: 28,000 units

India’s e-2W industry clocks 143,000 units in record-breaking October

Škoda Auto India Sells 8,252 Units in October 2025, Records Highest-Ever Monthly Sales

Sarthak Mahajan — Sat, 01 Nov 2025 12:47:14

Škoda Auto India reported its highest-ever monthly sales in October 2025, selling 8,252 units compared to 6,636 units in September 2025, representing a 24.4% month-on-month increase. The October performance also marks the brand's strongest single-month sales figure since its entry into the Indian market.

The company has sold 61,607 units between January and October 2025, already exceeding its previous annual record of 53,721 units achieved in calendar year 2022. This performance comes during the brand's 25th anniversary year in India.

Sales Performance and Growth Drivers

The October sales growth follows a strong September performance, where the company recorded 6,636 units, up 101% year-on-year from 3,301 units in September 2024 and 33% higher than the 4,971 units sold in August 2025.

The Kylaq, Škoda's first sub-4 meter SUV, has been the primary growth driver, with sales approaching 40,000 units since its launch earlier this year. In September alone, the Kylaq accounted for 4,398 units, representing approximately 66% of the brand's monthly sales.

The company's product portfolio also includes steady contributions from the Kushaq and Slavia models, along with demand for the Kodiaq, the brand's flagship luxury 4x4. The high-performance Octavia RS, which was reintroduced to the Indian market, was sold out within 20 minutes of bookings opening.

Market Context and Industry Factors

The automotive industry witnessed increased demand during the festive season, which typically represents the strongest sales period in India. The implementation of GST 2.0 reforms in September 2025 created additional momentum, with simplified taxation making vehicles more affordable.

The Kylaq benefited from GST-related price reductions of up to Rs 1.19 lakh, with the model now priced between Rs 7.55 lakh and Rs 12.80 lakh (ex-showroom). The revised pricing structure became effective in September, with full market impact materializing in subsequent months as awareness spread and inventory at new prices became available.

In the third quarter of 2025 (July-September), Škoda Auto India recorded 17,161 units, representing a 110% year-on-year growth compared to 8,176 units in the same period of 2024.

Network Expansion and Strategic Initiatives

Škoda Auto India has expanded its presence to 318 customer touchpoints across 180 cities, up from 315 touchpoints across 177 cities reported in September. The company has achieved over 200,000 locally produced cars, including the Slavia, Kushaq, and Kylaq models.

India became the first market globally for Škoda Auto to complete 100% rebranding of its entire network with updated corporate identity and design. The company plans to increase its total sales and aftersales workforce at dealerships by 50% to over 7,500 employees by the end of 2025, supported by more than 25,000 training days focused on service quality.

"This milestone of our 'biggest sales ever' is a testament to the strength of purpose, clarity of vision and agility of execution, all of which are pivotal to our surge in India," said Ashish Gupta, Brand Director, Škoda Auto India. "Our product offensive, culturally relevant communication, network expansion to 318 customer touchpoints, and increased presence in new geographic regions are other landmarks that have fueled our 25th anniversary to be our biggest year in India."

Product Portfolio and Market Positioning

With the Kylaq, Kushaq, and Kodiaq, Škoda now offers three SUV options targeting different market segments, while maintaining its sedan presence through the Slavia and the performance-oriented Octavia RS. The company launched limited editions of the Kushaq and Slavia during the year as part of its 25th anniversary celebrations in India.

The Kylaq competes in the sub-4 meter SUV segment, which has seen strong demand in the Indian market. Between January and September 2025, the model sold 34,500 units, accounting for approximately 65% of Škoda's total sales during that period.

The company's manufacturing facility in Chakan produces the Kylaq alongside the Kushaq, built on the localized MQB-A0-IN platform. Production capacity has been increased to meet anticipated demand during the festive season and beyond.

Škoda Auto India's performance in 2025 positions the brand among the growing players in the Indian passenger vehicle market, with the company gaining market share through its expanded product lineup and network presence.

Ather Energy Clocks Best-Ever Monthly Sales in October: 28,000 Units

Ajit Dalvi — Sat, 01 Nov 2025 12:36:24

Bengaluru-based smart electric scooter startup Ather Energy, which is having a stellar run in domestic market, has clocked record monthly retail sales of 28,061 units in October 2025 as per Vahan. This is a handsome 73% YoY increase (October 2024: 16,248 units) and makes last month the company’s best ever since it entered the e-2W market in end-CY2018 (see 10-month sales data table below).

Ather Energy’s sales numbers for October 2025 could further increase when the Vahan portal factors in more registrations for the last couple of days of last month. In October 2025, the startup had a best-ever market share of 19.52% what with the month beating its previous best (August 2025: 18,105 units) and marking the first time that the Bengaluru-based smart electric scooter OEM has raced past both the 20,000 and 25,000 retail sales mark in a single month.

In October 2025, with a record 28,061 units sold, Ather had a best-ever market share of 19.52% of the e-2W industry’s record monthly sales of 143,713 units.

Importantly, Ather is 3,107 units behind October 2025 market leader Bajaj Auto (31,168 units) and just 1,423 EVs behind No. 2 OEM, TVS Motor. Will the startup, at some stage in the near future, upset the two legacy OEMs? That remains to be seen but the fact of the matter is that with a growing sales network and expanding reach into Tier 2 and 3 markets, the start-up is taking the battle into the top two legacy players’ camp.

On October 6, Ather Energy rolled out its 500,000th electric scooter – a Rizta – from the Hosur plant in Tamil Nadu. Retail sales since launch have crossed 465,000 units.

Rizta family scooter and BaaS make a difference

The growth accelerator for Ather has been its flagship product, the Rizta family scooter which has joined the 450 and 450 Apex performance scooters in its EV portfolio. The Rizta, which has an IDC range of 159km per charge, has marked a strategic product shift for Ather. Designed and developed with a focus on practicality – and also to take on the competition in the form of the TVS iQube, Bajaj Chetak and Hero Vida – the Rizta’s highlights include the largest two-wheeler seat in India, ample storage space and a host of user-friendly features.

The Rizta, which has sold an estimated 152,477 units from launch in April 2024 till end-August 2025, remains Ather’s key growth driver and currently accounts for the bulk of its sales. This is noteworthy given that the three-variant flagship scooter is a premium product that stands out from the crowd.

What has also drawn buyers to Ather products is its Battery As A Service (BaaS) business model which, by separating the cost of the battery ownership from e-2W ownership, makes EVs more affordable and competitive with ICE rivals. With BaaS, e-2W buyers pay only for battery usage via subscription or per kilometre ridden. Ather Energy has also enhanced its brand equity by expanding its Assured Buyback programme, offering enhanced peace of mind to the consumer.

On October 6 this year, Ather rolled out its 500,000^th electric scooter from the Hosur plant in Tamil Nadu. The milestone product – a Rizta – comes just over 7 years after the company entered the EV market in September 2018. Current annual manufacturing capacity from its two plants – one each for e-2W assembly and battery production – is 420,000 units. A third plant in Maharashtra, with annual capacity of a million units, will expand capacity to 1.42 million units. This first phase of this upcoming high-tech facility is slated to go on stream in the second half of CY2026.

Between September 2018 and October 2025, Ather Energy has retailed a total of 464,236 e-scooters in the domestic market. In the first 10 months of this year, the startup has sold 160,033 units which is a 27% increase over its CY2024 sales of 126,355 units. With November and December still to be counted in this year’s final tally, and given the its current strong growth trajectory, expect Ather to either close in on the 200,000 annual sales milestone or even surpass it for the first time.

ALSO READ: India’s e-2W industry clocks 143,000 units in record-breaking October

Bajaj Auto Regains E-2W Crown, Industry Clocks 143,000 Units in Record-Breaking October

Ajit Dalvi — Sat, 01 Nov 2025 12:30:01

As accurately forecast a fortnight ago in the mid-month sales analysis on October 16, retail sales of electric two-wheelers in India have registered their best-ever monthly numbers in October 2025. As per the latest retails sales data on the Vahan portal (7am, November 1, 2025), 143,713 zero-emission scooters, motorcycles and mopeds were delivered to customers in October 2025.

This makes for 2% year-on-year growth on a large year-ago base (October 2024: 140,225 units) and translates into over 4,635 e-2Ws sold every day last month. Daily sales peaked at the end of the month what with 6,329 e-2Ws sold on October 30 and 7,737 units on October 31.

October 2025’s record sales, which are the highest in the current calendar year, take it ahead of the previous monthly best – March 2024 (140,350 units) and October 2024 (140,225 units). These three months are the only ones when India e-2W Inc has surpassed 140,000 retail sales.

October 2025’s record e-2W retail sales (143,713 units) beat the previous best of March 2024 (140,350 units) and October 2024 (140,225 units).

While 67,328 e-2Ws were sold in the first 15 days of last month, the remaining 16 days saw record deliveries of 76,385 e-scooters, bikes and mopeds. What also lit up sales was the Diwali festival which opened on the 20^th and turned out to be a demand accelerator for the top e-2W manufacturers.

Importantly, what makes October 2025 stand out from the other two big-sales months is that it comes after GST 2.0, which has helped reduce prices of IC engine two-wheelers, made them more affordable and also shrunk the gap between them and electric two-wheelers. Nevertheless, last month’s stellar market performance proves that the e-2W industry has little to fear about sales being eaten into by its fossil-fuelled brethren.

Combined sales of the top six OEMs – Bajaj Auto, TVS Motor Co, Ather Energy, Hero MotoCorp, Ola Electric and Greaves Electric Mobility – at 128,310 units – account for 89% of the total e-2W sales across India (barring Telangana for which Vahan data is not available), leaving the balance 10% to be fought over by 190 other e-2W players.

Three’s company: Bajaj Auto sold 1,684 more e-2Ws than TVS which sold 1,423 more e-scooters than Ather Energy in October.

BAJAJ AUTO TRUMPS TVS

The big news coming from the e-2W industry is that Bajaj Auto has regained the No. 1 title it lost to TVS Motor Co in April this year. Having been in the lead halfway into the month, Bajaj maintained its steady pace of sales in the second half. October saw the Pune-based manufacturer of the Chetak sell 31,168 units to ride ahead of its Chennai-based rival by 1,684 units. This marks a 10% YoY increase (October 2024: 28,442 units) and gives it a 22% e-2W market-leading share. Bajaj Auto, which had last topped the monthly e-2W sales in February (21,570 units) and March (35,214 units), had been in the No. 2 slot right since April and seven dropped to No. 5 rank in July due to production constraints. Bajaj Auto’s strong October 2025 sales are its second-best monthly sales – March 2025 (35,215 Chetaks) is the best yet for the company.

TVS Motor Co, which has topped the e-2W market for six months in a row from April 2025, sold 29,484 units last month, down 3% YoY (October 2024: 30,240 units) for a 21% market share. Having sold 14,089 units in the first-half of October, the iQube manufacturer sold another 15,395 EVs in the next fortnight but that wasn’t enough to get it past arch rival Bajaj Auto. TVS’ slower sales in October can be attributed to iQube production constraints – speaking to analysts recently after announcing the H1 FY2026 results, the company management said “there has been a shortage of production and supplies into the market, primarily because of availability of the (rare earth) magnets.” Once this issue is resolved, expect TVS Motor to bounce back with vigour.

Another October news-making OEM is Ather Energy which is on a roll this year. Having begun CY2025 on a strong note, sales have risen month on month and October 2025 (28,061 units, up 73% YoY) is its best month yet, which gives the startup a best-ever market share of nearly 20 percent. October 2025 beats its previous best (August 2025: 18,105 units) and marks the first time that the Bengaluru-based smart electric scooter OEM has raced past both 20,000 and 25,000 retail sales in a single month. Importantly, it is just 1,423 units behind TVS and 3,107 units behind Bajaj Auto. Will Ather, at some stage in the future, upset the two legacy OEMs?

What has drawn buyers to Ather products is its Battery As A Service (BaaS) business model which, by separating the cost of the battery ownership from e-2W ownership, makes EVs more affordable and competitive with ICE rivals. With BaaS, e-2W buyers pay only for battery usage via subscription or per kilometre ridden. Ather Energy has also enhanced its brand equity by expanding its Assured Buyback programme, offering enhanced peace of mind to the consumer.

Ola Electric, which was the e-2W market leader not very long ago, is ranked fourth in the Top 10 listing and narrowly missed being fifth. In October 2025, as per Vahan data, Ola delivered 16,034 e-2Ws comprising both e-scooters and e-motorcycles – just 100 units more than Hero MotoCorp. Ola’s October 2025 sales are down 62% YoY (October 2024: 41,843 units). The year-ago sales were the second-highest monthly score for an Indian e-2W OEM. The highest total also belongs to Ola -- 53,647 units in March 2024. Between January and October 2025, Ola has retailed a total of 181,752 units, which means it will be among the top five OEMs to cross the 200,000 annual sales mark

The bulk of Ola’s sales come from the 14-variant S1 e-scooter, which straddles multiple price points — from entry-level mass mobility through to premium. The S1 Pro, equipped with a 4kWh battery, has a claimed 142 km range on a single charge. Ola also manufactures and sells the Roadster X electric motorcycle, which develops peak power of 11 kW, a top speed of 125 kph, and has a range of 501 km.

Hero MotoCorp, the world’s largest two-wheeler manufacturer, continues to be in the news with robust demand for its new Vida VX2 model. Last month, the world’s largest two-wheeler manufacturer registered its best-ever electric scooter monthly sales – 15,934 units – and highest market share yet – 11 percent. The October 2025 sales are a 117% YoY increase (October 2024: 7,355 units) and beats the previous monthly best of 13,380 units in August 2025. over the 10,537 EVs sold in July 2025. This is the fourth month in a row that company has surpassed the 10,000-unit monthly sales mark since it entered the electric two-wheeler industry in October 2022. What’s more, it is set to achieve the 100,000-unit annual sales milestone for the first time in CY2025.

Greaves Electric Mobility (GEM), the EV arm of Greaves Cotton, which markets the Ampere brand of e-scooters, is sixth on the OEM ranking list with a stellar performance – 7,629 units. This marks strong 91% YoY growth (October 2024: 3,990 units) and is the best monthly retail sales total for GEM which has a 5% e-2W share in October.

GEM and Ampere have three key e-scooter brands: Nexus (EX and ST), Magnus (Neo and EX), and Reo (80 and Li Plus). On September 18, Ampere Vehicles launched its latest product, the Magnus Grand family scooter priced at Rs 89,999 (ex-showroom). The flagship Nexus remains the best-selling product for GEM and Ampere Vehicles, even as it witnesses demand for the Ampere Reo 80, launched in April at Rs 59,900.

Bgauss Auto, a Mumbai-based startup spawned by electrical solutions major RR Kabel, is ranked seventh amongst the Top 10 e-2W OEMs. Bgauss sold 2,932 units of its e-2Ws comprising the RUV 350 and Max C12 last month.

Pur Energy, the Hyderabad-based EV startup incubated from the i-TIC at IIT Hyderabad, is now a regular entry in the monthly Top 10 e-2W OEM list. The company, which has a five-model portfolio, has clocked sales of 1,706 units to take eighth rank.

Another startup which is a Top 10 regular is the Bengaluru-based River Mobility, which has a single product – the River Indie. In October, the company has delivered 1,601 units to customers.

Electric motorcycle manufacturer Revolt Motors, with 1,345 units, is ranked tenth in this Top 10 listing. The company, which was amongst the earliest to launch an electric motorcycle in India in CY2019, has expanded its portfolio to five products with the RV BlazeX. It also has an aggressive localization programme and uses EV components from Sona Comstar, Uno Minda, Rockman, FIEM and JBM.

E-2W Industry Rides Towards Record Sales of 1.25 Million Units in CY2025

India’s e-2W market is the largest contributor to India EV Inc and between January 1 and October 31 has clocked retail sales of 1.06 units, up 11% YoY, which constitutes 92% of the segment’s record retail sales of 1.14 million units (11,49,399 units) in CY2024. Now, the e-2W industry needs to sell another 86,061 units to surpass that total. With an additional 200,000-plus e-2Ws likely to be sold in the November-December 2025 period, expect CY2025 retail sales to be in the region of 1.25 million units.

This segment, which has plenty of products on offer – more scooters, a growing number of motorcycles and some mopeds, has shrugged off any impact from the GST-driven price cuts on its IC-engine cousins. Unlike the electric passenger vehicle as well as the e-3-wheeler industry, which have felt some of the impact of the surge in demand for ICE models after GST 2.0, the e-2W segment has been far more resilient. This can be attributed to the long-term, wallet-friendly benefits of e-mobility on two wheels particularly in view of high petrol and CNG prices. And the fact that now there is a wide choice of products, at multiple price-points to choose from.

Toyota Kirloskar Motor Reports 38% Month-on-Month Growth in October 2025

Sarthak Mahajan — Sat, 01 Nov 2025 12:21:28

Toyota Kirloskar Motor (TKM) reported sales of 42,892 units in October 2025, registering a 38% increase compared to September 2025, when the company sold 31,091 units. The October figure includes 40,257 units in domestic sales and 2,635 units in exports.

On a year-on-year basis, TKM recorded 39% growth in October 2025 compared to October 2024, when the company sold 30,845 units.

Festive Season and Product Launches Drive Performance

The company attributed the sales growth to festive season demand and the introduction of new variants. TKM launched the Urban Cruiser Hyryder Aero Edition and the 2025 Fortuner Leader Edition during the month, both of which received customer interest for their design updates and feature additions.

"Our growth stands as a testament to the seamless synergies across our operations and the unwavering commitment to customer-centricity," said Varinder Wadhwa, Vice President, Sales-Service-Used Car Business at TKM. The company also noted increased customer enquiries and order intakes during the period.

Government Policy and Market Conditions

TKM cited government GST reforms as a factor contributing to market confidence during the festive season. The company's collaboration with Drum Tao was mentioned as part of efforts to enhance customer engagement.

In September 2025, TKM had reported 16% year-on-year growth, with sales supported by hybrid vehicle demand and GST reductions that preceded the festive buying season.

Recent Developments

The company expanded its used car business with a new pre-owned car outlet in Chandigarh during October. TKM's current product portfolio includes the Innova HyCross, Innova Crysta, Fortuner, Legender, Camry Hybrid, Urban Cruiser Hyryder, and Hilux manufactured at its Bidadi facilities. The company also offers the Glanza, Rumion, and Urban Cruiser Taisor, along with imported models including the Vellfire and LC 300.

Company Background

Toyota Kirloskar Motor operates two manufacturing plants in Bidadi with a combined installed production capacity of up to 342,000 units. The company has equity participation of 89% from Toyota Motor Corporation, Japan, and 11% from Kirloskar Systems Limited, India, and employs over 6,500 people.