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Exports and SUVs Cushion India’s Slight July Vehicle Dip

Robust two-wheeler growth coupled with fresh EV battery upgrades offers automakers new momentum to counter muted retail demand.

Overview

  • Wholesale passenger vehicle dispatches fell 0.2% year-on-year to 340,772 units in July, reflecting subdued domestic demand.
  • Passenger vehicle exports climbed 8.7% to 67,292 units, offsetting domestic weakness and supporting overall OEM volumes.
  • Maruti Suzuki maintained its market lead with 137,776 units sold (flat year-on-year) while Mahindra rose to second place with 49,871 units driven by its SUV lineup.
  • Two-wheeler shipments grew about 9% year-on-year driven by a 16% surge in scooter deliveries, and Mahindra rolled out new 79 kWh battery variants for its BE 6 and XEV 9e electric SUVs promising over 500 km range.
  • Dealer inventories held near 55 days, prompting SIAM and FADA leaders to voice cautious optimism for a festive-season rebound in demand.