INDIA ELECTRIC CAR MARKET
More automakers cut prices ahead of festive season post-GST slash
Carmakers, including Kia India, JSW MG Motor, TVS Motor Company, and Lexus, are reducing prices to pass on the benefits of reduced GST rates to customers. The price cuts, effective from September, aim to boost car sales during the festive season and the rest of the fiscal year. Lexus announced the most significant savings, with reductions up to ₹20.
Tesla market share in US drops to lowest since 2017 as competition heats up
The decline highlights the threat from automakers ramping up EV incentives at a difficult time for the industry. Analysts expect an EV sales bump to continue through September in the United States, then drop when federal tax credits expire at the end of the month, raising financial pressure on Tesla and other automakers.
China's EV and hybrid sales growth at slowest in 18 months
China's electric and hybrid vehicle sales growth slowed to a 1.5-year low in August, rising just 7.5% annually amid government efforts to curb price wars. While outpacing gasoline cars for the sixth month, overall car sales growth also decelerated. BYD cut its sales target, and Li Auto faced declining hybrid demand.
Most EU carmakers on track to meet emission targets: study
Almost all European carmakers are on track to meet EU emission targets after winning a reprieve this year as electric vehicles (EV) sales pick up, a study released Monday showed. "The two-year extension of the targets allowed carmakers to take the foot off the gas and will lead to two million fewer electric cars being sold between 2025 and 2027," it said.
Looking at India as potential market for small e-cars, GST cut makes it attractive: VW Group CEO
Volkswagen is considering introducing its affordable small electric cars to the Indian market, leveraging partnerships to optimize their introduction. CEO Oliver Blume highlighted India's potential, especially with the reduction of GST on automobiles, making the market more appealing.
Volkswagen presents compact electric SUV ID.CROSS
Volkswagen on Sunday unveiled the ID.CROSS, a small electric SUV concept set for launch in summer 2026, priced between €28,000 and €30,000. Brand chief Thomas Schaefer said the model reflects Volkswagen’s push to deliver affordable EVs amid rising competition from China.
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VinFast shifts gears in India: Can the EV challenger outpace Tesla and Tata?
VinFast, Vietnam's leading carmaker, has entered the Indian EV market, challenging Tesla and Tata Motors with competitively priced electric SUVs like the VF6 and VF7. Aiming to become a major player, VinFast plans significant investments, job creation, and a manufacturing plant in Tamil Nadu.
VinFast bets on ecosystem, not volumes, for India: Asia CEO
Vietnamese EV maker VinFast has officially entered the Indian market. The company plans to build a complete ecosystem beyond just selling cars. This includes electric cars, buses, two-wheelers and charging infrastructure. VinFast has launched two models, the VF 6 and VF 7, assembled in Tamil Nadu. The company aims to offer benefits like free charging, maintenance, and a ten-year warranty.
BMW will return to growth in China with new all-electric series, CFO says
BMW aims to regain growth in China with its Neue Klasse series, starting with the iX3 electric SUV launching in 2026. Despite a 15.5% sales slump in China, BMW anticipates the new series, featuring significantly cheaper batteries, will achieve margin parity with combustion engines. However, import tariffs in the U.S. are expected to negatively impact BMW's profit margin by 1.
VinFast debuts in India with VF6 and VF7 electric SUVs, eyes premium EV segment: Check price, features & more
VinFast, Vietnam's EV manufacturer, has entered the Indian market with its premium Vf6 and Vf7 models, aiming to compete with established players like Maruti Suzuki and Tata Motors. The company plans to establish a strong presence with 32 dealerships across 27 cities, expanding to 35 by 2025.
Trillion dollar man: New pay package could make Musk that much richer if Tesla thrives
Tesla has proposed a new pay package for Elon Musk, potentially making him the world's first trillion-dollar executive if he meets aggressive targets, including significant increases in car production, share price, and operating profit. However, Tesla faces challenges such as declining sales in Europe due to Musk's political affiliations and intensifying competition from rivals like BYD.
Elon Musk's Tesla hits the Indian roads! First Model Y delivered in Mumbai
Maharashtra Transport Minister Pratap Sarnaik became Tesla India's first customer, receiving a Model Y in Mumbai to promote electric mobility, particularly among the youth. Despite initial hype, Tesla has secured modest orders due to high import duties, limiting deliveries to select cities. While facing pricing challenges and geopolitical headwinds, Tesla is expanding its infrastructure with charging stations and experience centers.
Tax cuts to drive growth in small car segment, says Maruti Chairman RC Bhargava
RC Bhargava, Chairman of Maruti Suzuki, has lauded the government's corporate tax reforms. He believes this move will revitalize the auto sector. Bhargava expects the small car segment to grow significantly. He projects an annual growth rate of around 10% for small cars. The overall industry growth could reach 7% to 8%.
SoftBank pares stake in Ola Electric to 15.7%
Masayoshi Son-led SoftBank Group is the second-largest shareholder in the Bengaluru-based electric scooter maker after founder Bhavish Aggarwal. The price at which the shares were sold was not disclosed.
From Mahindra Thar to Hyundai Creta: Popular cars that will get cheaper with GST 2.0
The Goods and Service Tax revision brings joy for the auto industry. Several popular cars will now be priced lower. The tax rate for small cars has been reduced from 28 per cent to 18 per cent, while luxury cars will be taxed at 40 percent. Notably, cess has been scrapped, brining the prices of bigger cars down too.
Mahindra & Mahindra shares rally 8% on GST overhaul. Is it the auto sector’s biggest winner?
Mahindra & Mahindra shares surged 7.8% as GST overhaul cuts taxes on SUVs, small cars, and tractors, boosting demand. Analysts highlight M&M as a key beneficiary, with broader auto sector gains expected. Lower rates and uniform duties support mass-market recovery and festive-season sales.
Small cars to remain Maruti's core, SUVs to help gain market share: Hisashi Takeuchi, MD Maruti Suzuki
Maruti Suzuki aims to regain a 50% market share in India by the decade's end, focusing on the growing SUV segment, which now constitutes 55% of car sales. The company's SUV sales have tripled since FY21.
Big engines, bigger taxes: GST 2.0 hikes duty on luxury cars to 40%
India's new GST overhaul brings significant tax changes to the automobile sector. Small petrol and diesel cars will benefit from reduced rates, while luxury vehicles and high-end electric cars face increased levies. This shift aims to simplify the tax structure, potentially boosting sales of smaller vehicles but impacting the growth of the premium EV market.
GST Council revises tax slabs for automobiles: Small vehicles get relief while SUVs face higher levy
The GST Council has announced a restructuring of tax rates for the automobile sector, effective September 22, 2025. Mass mobility vehicles like smaller cars and motorcycles up to 350cc will see reduced GST rates, dropping from 28% to 18%. Conversely, larger cars, SUVs, motorcycles above 350cc, yachts, and personal aircraft will face a higher tax rate of 40%.
The govt wants you to fall in love with hatchbacks again
The Goods and Services Tax (GST) Council has approved a revised tax structure for the automobile sector. Tax rate for bigger cars is now 40%. Levies on smaller cars and motorcycles up to 350cc are reduced to 18%. This decision comes as Sports Utility Vehicle (SUV) sales experience their first decline in over five years.
From Brezza to Victoris: Maruti shifts gears to reclaim dominance in SUV space
Maruti Suzuki aims to reclaim a 50% domestic market share by the decade's end, focusing on the booming SUV segment, which now constitutes 55% of Indian car sales. Managing Director Hisashi Takeuchi highlights the success of models like Brezza and Fronx in the entry-SUV category.
China shocks auto world with $15,000 EV using game-changing semi-solid-state battery
China’s SAIC MG has launched the MG4 Anxin, the world’s first semi-solid-state battery EV for under $15,000. The car offers long range, fast charging, and advanced driver-assist features. It quickly received thousands of pre-orders, showing high demand. This launch highlights China’s lead in affordable electric cars and new battery technology, challenging other countries like the U.S. in the EV market.
GST panel calls for steep levies on luxury EVs in blow for Tesla, BMW
GST Council panel has suggested significant consumer levy increases on luxury electric vehicles priced above $46,000, potentially impacting Tesla, Mercedes-Benz, BMW, and BYD sales. This proposal contrasts with Prime Minister Modi's broader tax reform efforts, which aim to reduce taxes on many goods.
PM Modi's tax reform set to slash levies on shampoos, hybrid cars, TVs
India is poised to significantly overhaul its Goods and Services Tax (GST) system, potentially slashing taxes on approximately 175 products, including consumer goods, electronics, and hybrid cars. The GST council is expected to finalize these cuts in early September, aiming to boost domestic consumption, support local manufacturers, and offset potential export declines.
Maruti Suzuki bets on GST cut to revive small car demand, cushion Trump tariffs
Maruti Suzuki anticipates that the proposed GST reforms, lowering the levy on small cars to 18%, will revitalize demand and boost the automotive market. Chairman RC Bhargava believes this move will benefit lower-end consumers and counter economic strain from high US tariffs. He also advocated for parity in GST between electric and hybrid cars to encourage cleaner technologies.
Tesla's sales rout in some European markets extends to eighth month
Data from France on Monday showed registrations for Tesla cars fell 47.3% in August versus the same month in 2024, while the overall car market grew nearly 2.2%. Sales in Norway and Spain rose but growth was well below that of China's top electric carmaker BYD.
Tesla's India show fails to live up to the hype as ground realities catch up with high-flying Musk
Tesla's India launch is facing challenges. Initial orders are way lower than expected. High import duties have led to high prices, making Tesla cars too expensive for the Indian market. BYD, a Chinese competitor, is performing better. Tesla, however, is staying the course in India, installing charging stations and plans further expansion.
Automakers report dip in vehicle dispatches in August as buyers await price cut in GST rejig
Major Indian automakers like Maruti Suzuki and Hyundai experienced a sales dip in August. Buyers postponed purchases anticipating GST rate cuts. Maruti Suzuki's dispatches fell by 8 per cent. Hyundai saw an 11 percent decrease. Mahindra & Mahindra's utility vehicle sales also declined. Tata Motors reported a 7 per cent drop. GST Council will meet to discuss tax reforms.
Clarity on GST rates at the earliest to help regain sales momentum in festive season: Luxury carmakers
Luxury carmakers in India anticipate a sales boost during the festive season, but uncertainty surrounding potential GST rate changes is causing consumer hesitation. Executives from BMW, Audi, and Mercedes-Benz urge swift clarity on GST to maintain momentum and encourage electric vehicle adoption. While the luxury segment previously outperformed the broader market, analysts predict more moderate growth due to economic headwinds.
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