From Bajaj Auto’s 2027 blitz to record October retails and India’s commanding presence at EICMA 2025, the week underscored an industry firing on all cylinders—riding on fresh products, global collaborations, and rising consumer confidence.
09 Nov 2025 | 6531 Views | By Darshan Nakhwa
The first week of November was packed with milestones for India Auto Inc. Bajaj Auto dominated headlines with a sweeping FY27 roadmap spanning new Pulsars, a fresh ICE brand, the next-gen Chetak EV, and sub-350cc motorcycles co-developed with KTM and Triumph.
Back home, October retail sales hit an all-time ...
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The first week of November was packed with milestones for India Auto Inc. Bajaj Auto dominated headlines with a sweeping FY27 roadmap spanning new Pulsars, a fresh ICE brand, the next-gen Chetak EV, and sub-350cc motorcycles co-developed with KTM and Triumph.
Back home, October retail sales hit an all-time high of 40.2 lakh units, as GST 2.0 cuts, festival euphoria, and a strong rural rebound ignited demand across categories. Maruti Suzuki regained small-car momentum, Mahindra lifted its tractor outlook, and Hyundai aimed for a 20% sales boost with its new Venue.
On the global stage, EICMA 2025 in Milan spotlighted India’s rising influence in premium motorcycling. Hero MotoCorp, TVS, Royal Enfield’s Flying Flea, BSA, and Ultraviolette unveiled cutting-edge EVs and performance models, while BMW’s India-built F 450 GS and Norton’s resurgence strategy underscored the country’s growing role in global R&D and manufacturing networks.
Together, these developments signalled an industry that’s scaling up in ambition and global presence, even as it consolidates leadership at home through sharper portfolios, deeper localisation, and renewed technological confidence.
Here’s the detailed round-up of all major developments from this week:
Bajaj Auto is gearing up for a busy 12-18 months with half a dozen new launches spanning internal-combustion motorcycles, electric two- and three-wheelers, and global premium collaborations with KTM and Triumph.
Executive Director Rakesh Sharma, speaking at the company's Q2 FY26 analyst call, outlined a product blitz that includes three new Pulsars, an all-new ICE brand, a new Chetak EV, and sub-350 cc KTM-Triumph motorcycles—each targeting growth in distinct market bands.
"We've got a few introductions starting from December in the Pulsar range, and there will be some in March and then in May. So we've got at least three good model introductions in December, March, and May. This is within Pulsar," Sharma said.
Bajaj Auto, KTM and Triumph to Develop Sub-350 cc Bikes to Counter GST Hike
As Bajaj Auto Ltd readies to take control of KTM AG, Executive Director Rakesh Sharma said the company is evaluating several options, including shifting more production to India and cutting jobs, as part of efforts to reduce costs at the financially stressed Austrian motorcycle maker.
“Now that we are going to be in the driver's seat next month or later this month, we will look at all options for reduction of cost, provided you know quality is not compromised,” Sharma said during Bajaj Auto’s Q2 FY26 earnings call. "This is a very important piece of the turnaround.”
Bajaj Auto has already secured eight of the nine regulatory approvals required to assume control of KTM, with the final clearance expected by mid-November. Once that is in place, Bajaj will move from a holding-level position to direct operational control of the company.
Bajaj Auto has confirmed that it is deep into developing an all-new electric motorcycle platform as part of what Executive Director Rakesh Sharma described as a "vigorous R&D push." The programme, being built entirely in-house, will span multiple use cases — from entry-level commuters to high-performance motorcycles — marking the next stage in the company's EV strategy.
The move comes as competition in the electric two-wheeler space intensifies. Royal Enfield recently unveiled its second electric prototype at the EICMA 2025 show in Milan, while startups such as Ultraviolette, Revolt, and Oben are pushing to gain early ground. Bajaj's entry signals that the next phase of India's EV race will be fought in the motorcycle segment, not just among scooters.
Chetak Rebounds to No.1; Bajaj Auto Readies New Model to Cement EV Lead
Maruti Suzuki's retail market share grew by 2 percentage points in October, signaling potential progress toward parent company Suzuki Motor Corporation's ambitious goal of capturing 50% of the Indian passenger vehicle market—a target that chairman R C Bhargava believes will be driven primarily by the resurgent small car segment.
"We are already seeing a shift in market share. Ultimately, it is the retail market share that we will be looking at," Bhargava stated at the company's Q2 and H1 financial results press conference, emphasizing a strategic pivot toward retail sales metrics rather than traditional wholesale figures.
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Income distribution data reveals compact vehicles remain essential for vast majority, debunking narrative of universal shift to SUVs.
The widely held belief that Indian car buyers have collectively moved upmarket to larger SUVs and premium vehicles has been fundamentally challenged by Maruti Suzuki Chairman R C Bhargava, who presented stark income distribution data showing why small cars remain critical for the overwhelming majority of Indian households.
"Households earning above ₹15 lakh a year form only about 10-12% of the total population. The remaining 85% have much lower income levels," Bhargava stated at the company's Q2 and H1 financial results press conference, dismantling the perception that aspirations alone drove the small car segment's decline over recent years.
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Mahindra & Mahindra Ltd’s top management on Tuesday said the government’s GST reforms have effectively clarified its stance on electric vehicles (EVs) versus hybrids, ending months of speculation in the automotive industry over subsidy priorities and technology direction.
“The current GST guidance has kind of clarified the government’s position on it,” said Rajesh Jejurikar, Executive Director and CEO of the Auto and Farm Sector at M&M. “The choice of what GST rates go to different products is reflective, we believe, of the government’s position. So, at least in the near term, that debate is settled. There was uncertainty till the GST rate structuring was to come out but that has now clarified the overall direction that is intended by way of priority.”
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The largest tractor maker in the world, Mahindra & Mahindra has revised its industry growth outlook for FY26 to low double digits, driven by good monsoon rains, healthy reservoir levels, and the recent GST cut in September 2025.
“The tractor outlook we’d given at the beginning of the year was 5 to 6% industry growth. We're increasing that to low double digits because the year's been much better, the rainfalls have been good, reservoir levels are good and we've also factored in the benefit of the lower GST,” said Rajesh Jejurikar, Executive Director, CEO of the Auto and Farm Sector, M&M.
Mahindra Expects Light Commercial Vehicle Market to Rebound With Double-Digit Growth
As the government looks to tighten emission standards for agricultural machinery, tractor manufacturers are seeking a slower transition to the stringent norm for lower horsepower models.
While TREM V norms could be rolled out next year, industry leaders have urged the government to delay the implementation of these emission standards for 25–50 horsepower (HP) tractors until 2028, citing increased production costs, technical hurdles, and limited preparedness among farmers.
At the launch of the all-new Hyundai Venue, priced from ₹7.9 lakh,Tarun Garg, Chief Operating Officer of Hyundai Motor India, said the company expects a 20% increase in the volumes of Venue with the introduction of the compact SUV. The new Venue is crucial for the South Korean automaker to fend off competition from M&M, Tata Motors and Maruti Suzuki, as the launch comes at a time when the company has been losing market share.
“The current Venue is doing about 9,000 in the domestic market per month and about 600 in the export market. We expect that volume can go up to as much as 20%, which will really help us to improve our market share in this segment,” said Tarun Garg, Managing Director and Chief Executive Officer (CEO), Hyundai Motor India Ltd (HMIL).
New Hyundai Venue launched at Rs 7.89 lakh
Auto component major Minda Corp has earmarked a capital expenditure of Rs 2,000 crore over the next five years as the company looks to grow significantly by the end of this decade, driven by higher contributions from the passenger vehicle business, premiumization, electrification, and exports. The company is targeting 20–25% CAGR growth in its topline in the next few years.
According to the company’s management, the planned capital expenditure of approximately Rs 2,000 crore over the next five years will focus on enhancing manufacturing capacity across segments. The plans include setting up two new greenfield facilities in die casting and one greenfield facility for instrument clusters.
Balkrishna Industries Ltd. (BKT), a major player in the global Off-Highway Tire (OHT) market, specializing in large tyres for agriculture, mining and construction vehicles is accelerating a major diversification strategy in response to severe trade headwinds that have undercut its core export sales. Amidst currently facing crippling tariffs in the critical U.S. market and easing situation in Europe, the company is sketching an ambitious plan to achieve a revenue of Rs 23,000 crores by 2030, requiring approximately a 2.2x increase from current levels.
"New growth capex for carbon black, rubber tracks and new category tyre: would be Rs. 3,500cr over next 3 years," the company informed in its investor presentation, helping the company capture 8% global market share in OHT segment. The strategy hinges on rapidly expanding domestic market share in India, venturing into new consumer tire verticals, and boosting its internal specialty material production, by building a stronger foundation during challenging times.
Three years after the strategic partnership, TVS Motor Company has decided to divest its shares in the Bengaluru-based ride-hailing startup Rapido. The two-and-three-wheeler maker will sell its stake in Rapido to investment firms Accel India and Prosus for Rs 287.93 crore.
TVS Motor said it will sell 11,997 Series D compulsory convertible preference shares (CCPS) of Rapido to Accel India VIII (Mauritius) Ltd for Rs 143.96 crore. It will also divest another 11,998 Series D CCPS and 10 equity shares to MIH Investments for Rs 144.97 crore. MIH is a subsidiary of Dutuch venture capital Prosus.
With the Octavia RS, Skoda Auto India has reintroduced its high-performance sedan to the market. All 100 units allocated for India were booked within days of opening reservations and even as SUVs dominate India’s passenger vehicle market, Skoda India Brand Director Ashish Gupta believes sedans are poised for a strong comeback, driven by design, driving dynamics, and the brand’s loyal enthusiast base.
Gupta told Autocar Professional that the company's upcoming product roadmap continues to keep sedans in focus while also expanding its SUV portfolio. “The Octavia RS has always represented the best of Skoda’s engineering and driving experience. The kind of response we’ve received for the RS proves that the love for sedans is far from over. Globally and in India as well, I think SUVs will continue to be the biggest choice for customers in terms of body style,” he said.
India’s automobile industry achieved a milestone in October 2025, with overall retail sales surging 40.5% year-on-year to an all-time high of 40.2 lakh units, according to data released by the Federation of Automobile Dealers Associations (FADA). The surge was driven by a rare confluence of factors–GST 2.0 tax reforms, back-to-back festivals, and a resurgent rural economy–which together sparked the strongest wave of demand in India’s automotive history.
“October ’25 will be remembered as a landmark month for India’s auto retail, where reforms, festivities, and rural resurgence came together to deliver record-breaking results,” said C S Vigneshwar, President of FADA. “After an almost quiet September for first 21 days due to the GST transition, October witnessed a swift rebound almost like a hurdle race where pent-up demand passed the baton to festive sentiment and tax-cut excitement, propelling sales to historic levels.”
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India's smaller cities and rural markets are leading the automotive sector's post-GST revival, with booking growth in tier 2, tier 3, and rural areas reaching 65% in the 18% GST segment—outpacing the 50% growth recorded in the top 100 cities, according to Maruti Suzuki's latest sales data.
"The response in the top 100 cities is phenomenal. But, beyond 100 cities, the bookings are higher than the top 100 cities," Executive Director Partho Banerjee stated at the company's Q2 and H1 financial results press conference, highlighting a significant shift in demand geography.
India’s Medium and Heavy Commercial Vehicle Market Rebounds After Years of Flat Growth
After nearly three years of subdued sales, India’s commercial vehicle market is roaring back to life. A decisive policy move, coupled with the country’s seasonal upswing in freight and infrastructure activity, has set the stage for a stronger-than-expected recovery in medium and heavy commercial vehicles (MHCVs) during the second half of the fiscal year.
Total industry volumes (TIV), which had languished around 375,000 units, are now projected to surpass earlier expectations of 6–7% growth. The tone across the industry has shifted from cautious optimism to quiet confidence, tempered only by the question of how long the rebound will last.
Xpeng announces world’s first mass-production line for flying cars
Xpeng Motors’ subsidiary Aridge has rolled out the first production-ready unit of its “Land Carrier” modular flying car from a new facility in Guangzhou’s Huangpu District — marking what the company claims is the world’s first mass-production line for flying cars. The initial units will serve as experimental prototypes for performance and manufacturing validation ahead of commercial deliveries slated for next year.
The transformation began quietly in 2022, far from the glare of public markets. When Apollo Global Management acquired Tenneco Inc. for $7.1 billion in November that year, pulling in the struggling American automotive supplier, few anticipated the sweeping changes that would ripple through to its Indian operations. What followed was not merely a financial restructuring but a fundamental reimagining of how the company would compete in one of the world’s fastest-growing automotive markets.
Today, Tenneco Clean Air India Ltd stands poised for its market debut, having increased its initial public offering to ₹3,600 crore from an earlier ₹3,000 crore, aiming for a valuation of over ₹16,000 crore at the upper end. The offering is entirely an offer-for-sale by promoter Tenneco Mauritius Holdings, which means that the company will not receive any proceeds from the IPO.
Hero MotoCorp and Vida unveiled the first of the Vida Novus portfolio of future mobility focusing on redefining sustainable, intelligent, and connected mobility.
They comprise the Nex 1 personal EV, the Nex 2 self-balancing electric trike for urban mobility, and the Nex 3 all-weather personal EV that offers the safety and comfort of four wheels for both urban and rural journeys.
Hero MotoCorp also revealed the Vida Ubex concept, which previews the first Vida electric motorcycle. Ubex, short for Urban Explorer, offers multi-terrain capability and is built on a modular platform with advanced smart connectivity.
Flying Flea, the electric mobility division of Royal Enfield, revealed its second model, the scrambler-styled S6, at EICMA 2025. The announcement follows the brand's debut of the C6 model at last year's event.
The S6 represents Flying Flea's expansion into dual-purpose electric motorcycles, combining urban maneuverability with off-road capability. The vehicle draws inspiration from the original Flying Flea motorcycles used during World War II, which were designed for lightweight, all-terrain deployment via parachute drops.
Royal Enfield Bullet 650, Classic 650 limited edition revealed
TVS Motor Company made its debut at EICMA 2025, presenting an ambitious portfolio that signals the Indian manufacturer's intent to expand its European footprint and compete in premium motorcycle segments globally.
The company unveiled six new products spanning internal combustion and electric powertrains. The showcase was headlined by the TVS Tangent RR Concept, a supersport motorcycle featuring a monocoque subframe constructed from composite materials, and the TVS eFX three o, described as the company's most powerful electric motorcycle concept to date.
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The BMW F 450 GS has made its public debut at EICMA 2025. The bike was revealed by BMW Motorrad CEO Markus Flasch in a teaser video. This new adventure motorcycle will replace the now-discontinued G 310 GS as the brand’s entry-level ADV, and like its predecessor, it will be manufactured in India by TVS.
The BMW F 450 GS is powered by an all-new 450cc parallel-twin engine, marking a significant step up from the single-cylinder motor used in the older 310 GS. The company had previously confirmed that this engine produces around 48hp, giving it a healthy advantage over the outgoing model.
Norton Motorcycles has launched its comprehensive resurgence strategy at EICMA 2025, presenting four all-new motorcycle models alongside a refreshed brand identity and significant expansion plans.
The announcement centres on the debut of the Manx R and Manx sports models, complemented by the Atlas and Atlas GT adventure motorcycles. The launch follows over £200 million in investment by parent company TVS Motor Company since acquiring Norton in April 2020.
BSA has revealed its first adventure motorcycle, the Thunderbolt, at the EICMA 2025 show in Milan. The launch marks the company’s fourth model under Classic Legends Pvt. Ltd., following the Gold Star 650, Bantam 350, and Scrambler 650.
The new Thunderbolt is powered by a 334cc single-cylinder, liquid-cooled, DOHC engine compliant with Euro 5+ norms. It features a six-speed gearbox, traction control, and three ABS modes – Rain, Road, and Off-Road. The bike is equipped with USD forks, a preload-adjustable mono rear shock, slip-and-assist clutch, and a reinforced bash plate designed for mixed terrain use.
Ultraviolette Automotive has launched its first carbon-fibre helmet, the UV Crossfade, at EICMA 2025 in Milan, Italy, marking the company's entry into connected riding solutions. The Bengaluru-based electric vehicle manufacturer also unveiled its complete product portfolio at the world's premier motorcycle exhibition.
The UV Crossfade helmet features a carbon-fibre outer shell with fibreglass inner layers, weighing approximately 1,380 grams. The helmet integrates directly with Ultraviolette motorcycles, enabling real-time connectivity between rider and vehicle. It is compliant with the ECE 22.06 global standard and is subject to DoT and ISI certifications.
Piaggio Group Unveils 2026 Lineup at EICMA Milan
The Piaggio Group has revealed a comprehensive range of new motorcycles and scooters at EICMA 2025 in Milan, introducing updated models across its four major brands.
Aprilia's headline introduction is the SR GT 400, a mid-size GT scooter featuring a 36-horsepower liquid-cooled engine and motorcycle-inspired suspension designed for both urban and off-road use. The model weighs 186 kg ready to ride and includes a five-inch TFT display, keyless ignition, and adjustable traction control and ABS systems.
Mahindra & Mahindra Ltd recorded a marked improvement in its battery electric vehicle (BEV) business during the July-September quarter, with its operating margin expanding by 260 basis points (bps) to 6.2%. The company also posted an earnings before interest, taxes, and depreciation of ₹202 crore, up 82% quarter-on-quarter, according to its investor presentation.
The robust performance stemmed from a combination of higher BEV volumes, better cost management and recognition of production-linked incentive (PLI) benefits.
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Bajaj Auto Limited delivered a stellar performance in the second quarter of FY26 (ended 30 September 2025), setting new benchmarks across key financial and operational metrics despite headwinds in its electric vehicle (EV) segment due to rare earth magnet shortages. The company reported a 14% year-over-year (YoY) increase in standalone revenue from operations to ₹14,922 crore, up from ₹13,127 crore in Q2 FY25, and a 19% sequential (QoQ) jump from ₹12,584 crore in Q1 FY26.
Profitability also reached historic highs. Net profit after tax (PAT) surged 24% YoY to ₹2,480 crore versus ₹2,005 crore in the same period last year (or 12% higher than the normalized PAT of ₹2,216 crore). On a QoQ basis, PAT rose 18% from ₹2,096 crore in the previous quarter.
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Ola Electric reported its first-ever EBITDA-positive quarter in the auto business in the second quarter of FY26. While the company continues to make losses on a consolidated basis, the automotive segment posted a 0.3% EBITDA margin, reversing a negative 5.3% margin in the previous quarter. Meanwhile, the company has slashed its full-year revenue guidance.
Ola Electric operates its business under two segments — auto and cell. The milestone comes even as the company’s sales volumes have been on a steady decline over the past year. Once the market leader in India’s electric two-wheeler segment, Ola Electric slipped to fifth position in October.
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Greaves Cotton Q2 Profit Rises 32%; Engineering Business Up 31%
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