Retail Vehicle Sales In India Surpass Wholesales In June, Driven By Discounts, EV Push
The report also highlighted strong tractor sales, supported by early and widespread monsoons, and noted a rising adoption of electric vehicles, especially battery electric four-wheelers (e4Ws).
In PVs, despite muted demand, retail sales were better than wholesales, thanks to high discounts. However, overall wholesale volumes remained low as manufacturers preferred inventory rationalisation. Maruti Suzuki reported a 6% year-on-year (YoY) decline in total volumes, even as exports rose 22%.
Mahindra & Mahindra (M&M), however, bucked the trend with an 18% rise in SUV wholesales, clocking 47,300 units. The report further noted that the upcoming festive season may provide a boost to PV demand, but discounts are expected to remain elevated until then.
In the 2W segment, the impact of the new ABS rule for entry-level bikes is likely to prompt some advance stocking by manufacturers toward the end of 2025, according to the report.
TVS emerged as the top performer with a 20% jump in overall 2W volumes, including a 10% rise in domestic sales and a 54% spike in exports. Bajaj Auto saw its domestic volumes dip by around 16%, but its exports grew by about 18%. Royal Enfield (RE) reported a 16% rise in domestic volumes and nearly 79% jump in exports, said the report.
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