Based on a report by ICICI Securities, home car business recorded a robust rebound in September 2025. The wholesale volumes exceeding expectations throughout all main car segments. This enchancment in demand got here after the Items and Companies Tax (GST) minimize on September 22, which boosted retail and wholesale gross sales throughout the sector.
Within the two-wheeler section, Hero MotoCorp registered a year-on-year development of eight per cent and bought round 6.87 lakh items, led by sturdy scooter gross sales. TVS Motor registered a development of 12 per cent to five.41 lakh items, together with over 31,000 iQube electrical scooters, reflecting the continued development within the electrical car section.
Bajaj Auto’s whole gross sales rose 9 per cent to 511,000 items, together with a 15 per cent enhance in three-wheeler exports. Gross sales at Eicher Motors-owned Royal Enfield beat expectations, rising 43 per cent to 124,000 items.
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Passenger car producers additionally carried out effectively, though some confronted provide chain points. Maruti Suzuki reported a 3 per cent annual development with gross sales of 1.9 lakh items, impacted by logistics constraints, although exports grew by 52 per cent. Mahindra & Mahindra’s PV gross sales rose 10 per cent, whereas Tata Motors’ gross sales rose 47 per cent to 61,000 items, with electrical car gross sales almost doubling. Hyundai Motor India additionally carried out effectively with an general development of 10 per cent led by export development of 44 per cent.
Business autos continued their restoration path. Tata Motors’ business car gross sales rose 19 per cent to 36,000 items, helped by elevated gross sales of heavy and lightweight vans. Ashok Leyland’s whole business car gross sales grew by 9 per cent, whereas Mahindra & Mahindra’s mild business autos grew by 18 per cent.
Tractors carried out effectively throughout all segments, registering a 49 per cent year-over-year enhance. Mahindra & Mahindra bought almost 66,000 tractors, and Escorts got here in second with 18,000 tractors, each effectively forward of expectations.
ICICI Securities famous that the general efficiency indicators “a wholesome demand revival throughout segments led by festive shopping for and the GST price minimize.”
With ANI Inputs
