Bullish for Auto Sector: Mid-Range EV Sales Surge 77% in India

India's electric passenger vehicle sales in the ₹10-30 lakh segment surged by 77% year-on-year in 2025, reaching a record 175,000 units. This growth was primarily driven by year-end discounts, indicating a price sensitivity among consumers but also a willingness to adopt EVs when incentives are present.

This trend is significant for the Indian auto market as it highlights the growing acceptance and demand for EVs beyond the premium segment. While discounts played a role, the sheer volume indicates a shift in consumer preference, which could accelerate EV penetration and benefit the entire automotive ecosystem in India.

Indian auto manufacturers like TATAMOTORS and M&M, who have a strong presence in the EV space, are likely to see positive sentiment and potential revenue growth. Auto component suppliers such as MOTHERSUMI and SONACOMS, specializing in EV parts, could also benefit from increased order books. Even MARUTI, as it scales up its EV offerings, stands to gain from the expanding market.

Traders should monitor upcoming sales figures for Q1 2026 to see if the momentum continues without heavy discounts. Watch for government policy announcements regarding EV subsidies or charging infrastructure, and track fuel price movements, as these factors could further influence EV demand. Also, keep an eye on new EV model launches in this price segment.

• •Electric passenger vehicle sales in the ₹10-30 lakh segment rose 77% year-on-year in 2025.
• •A record 175,000 units were sold in this segment in 2025.
• •Growth was primarily attributed to year-end discounts.
• •Demand is expected to increase with sharp fuel price rises or rationing.