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Weekly News Wrap: Record FY26 Sales Set Tone, JLR Price Cut, Toyota, VinFast Product Plans, TVS Production
Passenger vehicle dispatches grew an estimated 8% to 4.65 million units, while electric two-wheeler and car sales posted strong gains as market rankings shifted among top manufacturers.
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The financial year 2026 sales performance dominated the news flow this week, highlighting shifting competitive positions across segments. The automobile industry recorded its strongest-ever performance, supported by GST cuts. In the domestic passenger vehicle market, dispatches are estimated to have grown around 8%, supported by strong demand in the second half of the year.
Hyundai Motor India slipped to fourth place after being overtaken by Mahindra and Tata Motors. In two-wheelers, Hero MotoCorp maintained its leadership in domestic sales and widened the gap with Honda. At the same time, electrification trends remained strong, with electric two-wheeler registrations rising 22% to 1.4 million units and electric car sales jumping 84%, reflecting steady growth in adoption despite infrastructure and pricing challenges.
The week also saw a series of exclusive news breaks reported by Autocar Professional - from Toyota’s future growth strategy and product plans and JLR’s move to cut prices of select Range Rover models under the India-UK FTA to VinFast’s entry roadmap for India’s electric two-wheeler market, and TVS Motor’s production target of up to 7.2 million units in the financial year 2027. In other developments, Maruti Suzuki flagged rising cost pressures despite operations remaining normal amid the West Asia conflict.
Exclusive: Toyota Readies India Product Blitz as Growth Shifts From Alliances to Own Platforms
Toyota is preparing a major product rollout between 2026 and 2028 with new SUVs, MPVs and updated models built on its own platforms, alongside capacity expansion, as the company shifts its growth strategy from alliance-led products to a stronger portfolio of in-house vehicles.
JLR to Cut Range Rover SV Prices by up to ₹40 Lakh Under UK FTA
Jaguar Land Rover India plans to cut the price of the Range Rover Sport SV Edition Two by about Rs 40 lakh, becoming the first luxury carmaker to pass on benefits from the India-UK trade agreement through lower import duties on select models.
Exclusive: VinFast to Enter India’s e2W Market with 3 Battery-Swapping Models Sold in Vietnam
The Vietnamese automaker plans to enter India’s electric two-wheeler market in the financial year 2027 with three battery-swapping scooters, initially assembled locally from imported kits, as the company expands its presence across vehicle segments and prepares to gradually localise production in the country.
Exclusive: TVS Motor Targets 6.8-7.2 Million 2W Production in FY27; No.2 Position in Sight
TVS Motor is targeting production of 6.8–7.2 million two-wheelers in the financial year 2027, aiming to achieve double-digit growth and challenge Honda for the number two position in India, supported by strong demand across premium motorcycles, exports and electric vehicles.
VIDEO: India's Auto Industry Posts Record Sales in FY26 Across All Vehicle Segments
India’s automobile industry recorded its strongest-ever performance in the financial year 2026, with record sales across all vehicle segments, supported by GST cuts and strong demand in the second half, while SUVs, premium models and alternative fuels continued to shape market trends.
Hyundai Falls Behind M&M, Tata in FY26 Sales
Hyundai Motor India slipped to fourth place in domestic passenger vehicle sales in the financial year 2026, overtaken by Mahindra and Tata Motors, after its volumes declined while rivals recorded strong double-digit growth, widening the gap in market rankings.
India e2W Registrations Rise 22% to 1.4 Million Units in FY26; Penetration at 6.5%
India’s electric two-wheeler registrations grew 22% in the financial year 2026 to about 1.40 million units, showing steady demand as traditional manufacturers gained share, while the market shift toward electric mobility continued gradually with penetration rising to about 6.5% of total sales.
Electric Car Sales Jump 84% in FY26; Tata, MG Maintain Lead
India’s electric passenger vehicle sales grew 84% in the financial year 2026 to about 198,000 units, driven by new model launches and better supply, though adoption remains at an early stage as charging infrastructure and price gaps continue to influence buying decisions
Maruti Says Operations “Normal” Amid West Asia War; Flags Cost Pressure
Maruti Suzuki said its production remains normal despite the West Asia conflict, but rising commodity and logistics costs are putting pressure on margins, prompting the company to consider price hikes if the situation continues.
Domestic PV Dispatches Grow 7-8% in FY26; GST Cut Boosts Demand in H2
Domestic passenger vehicle sales are estimated to have grown 7–8% in the financial year 2026, supported by lower GST rates, strong festival demand and improving rural sales, with volumes projected to reach about 4.6–4.65 million units for the year.
Maruti Suzuki Dzire Tops FY26 Sales Chart; Can it Revive the Sedan Segment?
The Maruti Suzuki Dzire emerged as India’s best-selling car in the financial year 2026 with about 2.3 lakh units sold, showing continued demand for sedans even as SUVs dominate the market, raising questions about whether the segment can stage a broader recovery.
Hero Motocorp Maintains Leadership in FY26 Domestic 2W Sales, Widens Gap With Honda
Hero MotoCorp retained its leadership in domestic two-wheeler sales in the financial year 2026 with about 6.07 million units, slightly widening the gap with Honda, supported by its strong hold in commuter motorcycles and growth in its electric vehicle portfolio.
ICRA Sees Passenger Vehicle Wholesale Growing at 4-6% in FY27, Tractor Growth at 1-4%
ICRA expects passenger vehicle sales growth to moderate to 4–6% in the financial year 2027 after stronger growth in the previous year, while tractor volumes are set to reach a record level in the financial year 2026 before slowing to modest growth due to a high base.
Exclusive: River Mobility Explores Narasapura for New Plant Ahead of Product Ramp-Up
River Mobility is evaluating a new manufacturing facility to support rising demand, upcoming electric scooter models and production for Yamaha, as the Bengaluru-based startup prepares to scale operations and close its next funding round later this year.
River Mobility: The Power of Doing Less
Bengaluru's River Mobility is building a durable EV business on the unfashionable virtues of restraint, focus and precise execution.
Valeo commissions e-axle line in Pune for Mahindra’s Born Electric platform
Valeo has commissioned a new electric powertrain line at its Pune plant to produce integrated e-axles for Mahindra’s upcoming Born Electric vehicles, strengthening localisation of key EV components and supporting the rollout of a new generation of electric SUVs in India.
From IIT-B Lab to Dalal Street: Sedemac’s 19-Year Bet on Auto Electronics
Sedemac grew from an IIT Bombay project into an automotive electronics supplier, building new technology that cut costs for vehicle makers. The company expanded without raising fresh equity for years, listed through an offer for sale, and is now entering the commercial vehicle segment.
Govt Approves Lohum’s Rare Earth Magnet Plan; 29 More Electronics Projects Get Nod
The government approved 30 proposals, including Lohum Cleantech’s plan to produce rare earth permanent magnets, under the electronics components scheme, with investments of Rs 7,104 crore aimed at boosting domestic manufacturing of key materials and components across multiple industries.
Setco Automotive to Sell Majority Stake in Subsidiary to RSB Transmissions for Up to ₹510 Crore
Setco Automotive will sell its entire stake in subsidiary Setco Auto Systems to RSB Transmissions in a multi-stage deal worth up to Rs 510 crore.
Mahindra First Choice Wheels Appoints Ankit Dhanuka CFO; Vishal Agarwal to Exit
Mahindra First Choice Wheels has appointed Ankit Dhanuka as Chief Financial Officer from April 2026, replacing Vishal Agarwal, who is leaving after more than 15 years with the group, as the used-car business prepares for growth in an increasingly organised and digital market.
VECV Nears Rs 26,000 Crore Turnover as Leadership Baton Passes to Srinivas
VE Commercial Vehicles expects its turnover to approach about Rs 26,000 crore as Vinod Aggarwal transitions from Managing Director and CEO to Chairman, marking a leadership change alongside continued growth in truck and bus sales volumes.
Suzuki Motorcycle Doubles Down on 125CC Scooter Space With New Burgman
Suzuki Motorcycle India launched a new Burgman Street scooter priced between Rs 1.02 lakh and Rs 1.13 lakh, strengthening its focus on the 125cc segment, which the company sees as a key growth driver due to strong demand from daily commuters.
Suzuki India's EV Strategy to Expand Beyond e‑Access, Mass Market Insight: President Umeda
Suzuki Motorcycle India plans to expand its electric vehicle lineup beyond the e-Access with a gradual rollout into more affordable segments, backed by stronger localisation and local development, while continuing to invest in CNG, flex-fuel and efficient petrol technologies alongside electrification.
VinFast Opens Bookings for VF MPV 7 in India Ahead of April 15 Launch
VinFast has opened bookings for its seven-seater electric VF MPV 7 ahead of its April 15 launch, marking the company’s entry into the electric MPV segment as it expands its product lineup and strengthens its presence in India’s growing EV market.
Mahindra Raises Prices by Up to 2.5% on SUV and Commercial Vehicle Range
Mahindra & Mahindra has raised prices of its SUV and commercial vehicle range by up to 2.5%, effective April 6, to partly offset rising input and production costs, with an average increase of about 1.6% across the portfolio.
Novelic Enters Indian Market with mmWave Radar Solutions for Vehicles
Novelic has entered the Indian market with millimetre-wave radar solutions aimed at supporting advanced vehicle safety features, positioning its technology as a cost-effective option for automakers as new safety regulations drive demand for driver assistance systems.
Mahindra, Bajaj and TVS power electric 3W sales past 800,000 for the first time in FY26
Electric three-wheeler sales in India crossed 830,000 units for the first time in the financial year 2026, growing 19%, driven mainly by strong demand and rising market share of established manufacturers such as Mahindra, Bajaj and TVS.
AI Safety is Far More Important in Car than Data Center AI: NXP Semiconductors CTO
NXP Semiconductors’ CTO Lars Reger said safety, cybersecurity and reliability must come before intelligence as vehicles become software-driven, stressing that cars are “rolling robots” where trust and secure systems are more critical than advanced AI features alone.
CV Growth to Moderate to Mid-Single Digits After 10-11% Surge in FY26: Crisil
India’s commercial vehicle industry is expected to see growth slow to mid-single digits in the financial year 2027 after a strong 10–11% expansion in the financial year 2026, as demand normalises and external risks such as geopolitical tensions weigh on the outlook.
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