India’s automobile retail market hit a record high in May, led by stronger demand across key segments and a sharp rise in electric vehicle adoption. The industry’s EV share crossed 11% for the first time during the month, marking a new milestone for the market.
Passenger vehicle retail sales rose to 402,591 units, up 23.25% from a year earlier, while two-wheeler sales climbed 7.54% to 1.845 million units. Three-wheelers, tractors and commercial vehicles also posted gains, underscoring broad-based growth across the auto market.
Tata Motors was a standout in the EV segment. The company reported total sales of 59,790 passenger vehicles in May, up 42% year on year, and EV sales of 10,517 units, a rise of 85% from the same month last year. Tata said monthly EV sales crossed the 10,000-unit mark for the first time.
The broader EV trend comes as dealers and automakers continue to see stronger interest in alternative powertrains. In the two-wheeler category, EV penetration also climbed, reinforcing the shift toward electric mobility in India’s retail auto market.
Read Full Article: IMF Chief Warns Global Economy Unprepared for Next Crisis as Shocks Pile Up
