Overview
- India’s passenger-vehicle wholesales hit a monthly record at about 470,000 units in October, up roughly 17% year on year, following GST 2.0 price cuts and festival demand.
- Maruti Suzuki reported its strongest October retail at 242,096 units and led wholesales, while Tata’s domestic dispatches rose about 27% and Mahindra’s SUV sales jumped around 31%; commercial vehicles outperformed with Tata up 10% and Ashok Leyland up 16%.
- EV registrations in India reached an all-time monthly high of roughly 234,000, driven by a record 144,000 electric two-wheelers; passenger EV retails climbed to about 17,800, with Tata leading at 7,118 for roughly a 40% share.
- Global EV results were mixed: Tesla’s China-made sales fell 9.9% year on year to 61,497 units in October with a 32% month-on-month drop in Shanghai output, BYD posted a second straight year-on-year decline in total vehicles, and Tesla logged sharp October falls in the Netherlands and Australia.
- In the U.S., removal of the $7,500 federal EV credit coincided with a nearly 25% year-on-year drop in Ford EV sales to 4,709 units, while Rivian posted a year-on-year rise to 3,944 despite lower month-on-month deliveries.