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India Auto August: EV Surge and Exports Offset Domestic Softness

Purchase delays before the GST Council meeting shifted momentum to exports alongside rapidly growing EV demand.

Overview

  • Retail EV car deliveries hit 17,298 in August, up 155% year on year, with Tata leading the market by Vahan registrations.
  • Maruti Suzuki’s total sales were 180,683 units as domestic passenger vehicles fell 8% to 131,278 while exports jumped about 40% to 36,538.
  • Hyundai’s domestic volumes declined to 44,001 units as exports rose to 16,500, reinforcing a pivot to overseas markets.
  • Tata Motors sold 73,178 vehicles and logged a record 8,540 EVs in August, even as domestic passenger-vehicle wholesales eased to 41,001.
  • Two-wheeler trends were split as TVS set a monthly record at 509,536 units and led e-scooter retails, while Bajaj’s domestic 2W fell 12% with Chetak output briefly constrained by magnet shortages before resuming.