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Indian auto sales saw a 7.5% YoY decline in April FY26, with passenger car sales down 10% MoM. The EV segment was particularly hit with a 37% MoM drop in registrations, though still up 30% YoY.
Auto sales have got off to a slow start in FY26 with total vehicle registrations falling 7.5% y-o-y to 2.06 million units. Sequentially, the fall is a smaller 4% from 2.15 million units in March, VAHAN data shows. Sales of passenger car sales declined by approximately 10% in April to 318,681 units from 349,000 units in March.
The electric vehicle (EV) segment appears to be the worst hit. EV registrations dropped sharply to 150,000 units in April, a fall of 37% over March sales. However, sales were up 30% year-on-year, on a relatively low base; April 2024, saw muted demand in the aftermath of the expiry of FAME II subsidies.
The Society of Indian Automobile Manufacturers (SIAM) has projected FY26 would see subdued growth of 1-2% in the passenger vehicles segment and for the whole auto industry. The cautious outlook has been attributed to weak urban sentiment, a rising preference for costlier SUVs and declining affordability.
Speaking at the company’s post-earnings briefing, RC Bhargava, chairman, Maruti Suzuki, said that demand in FY26 is likely to remain under pressure, citing affordability challenges. “The income tax relief announced in the Budget will not be enough to boost small car sales,” Bhargava said, noting that just 12% of Indian households earn more than ₹12 lakh annually — the threshold generally needed to buy a new car.“With 88% of households earning below that mark, and small cars becoming more expensive due to the cost of meeting regulatory norms, high growth cannot be expected,” he added.
Two-wheeler sales in April saw a 7.5% increase, reaching 1.65 million units compared to 1.54 million units in March. However, sales of electric two-wheelers experienced a significant decline of 35%, falling to 85,462 units from 131,190 units in March.
Ola Electric Technologies, TVS Motor, Bajaj Auto, Ather Energy, and Hero MotoCorp were the top performers in the electric two-wheeler segment in April. Ola Electric led the pack with 18,485 units sold, followed closely by TVS Motor at 18,205 units. Bajaj Auto recorded 17,743 units, while Ather Energy and Hero MotoCorp sold 12,361 and 5,481 units, respectively.
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This article was first uploaded on May one, twenty twenty-five, at fifty-two minutes past five in the morning.
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