India's June auto demand stays resilient despite challenges, brokerages say

Mahindra And Mahindra

02/07/2026 09:08

** India's June auto wholesales were solid for PVs and CVs despite supply-sides issues and fuel price inflation worries, BofA Securities says
** Auto demand remains strong post-GST rate cut; expects strength to continue through H1FY27 - CLSA    
** EV penetration accelerating; expects adoption curve to steepen as upfront ownership economics of EVs increasingly converge with ICE vehicles - CLSA
** Gasoline price hikes in India have tapered off and concerns about weak total auto demand are easing, JP Morgan says
** Adds, Tata Motors PV TAMO.NS maintained second place in domestic sales as growing EV sales contributed
** Domestic volume growth outlook for TAMO stays positive; co likely to outperform industry, HSBC says
** Nifty auto index .NIFTYAUTO last up 0.9%; down 4% YTD

     
     

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))