The Federation of Automobile Dealers Associations (FADA) released its FY’25 and March’25 vehicle retail data, revealing nuanced growth across segments, shifting OEM market dynamics, and accelerating electric vehicle (EV) adoption. Here’s a detailed breakdown:
Overall FY’25 Performance
Total Retail Growth:6.46% YoY (2.61 crore units vs. 2.45 crore in FY’24).
Segment Growth:
2W (Two-Wheelers):+7.71% (1.89 crore units).
PV (Passenger Vehicles):+4.87% (41.53 lakh units).
CV (Commercial Vehicles): -0.17% (10.08 lakh units).
3W (Three-Wheelers): +4.54% (12.21 lakh units).
Tractors: -1.04% (8.83 lakh units).
Market Share Shifts Across Segments
1.Two-Wheelers (2W)
-Hero Motocorp:Market share fell to 28.84% (FY’25) from 30.79%(FY’24), despite selling 54.45 lakh units.
- Honda Motorcycle:Gained ground, rising to 25.37% (47.89 lakh units) from 23.36%
-TVS Motor: Increased share to 17.49%(33.02 lakh units) from 16.93%
- Bajaj Auto:Slipped to 11.41%(21.54 lakh units) from 12.03%
- Ola Electric:EV dominance continued with 1.82% share (3.44 lakh units), up from 1.88% in FY’24.
2.Three-Wheelers (3W)
Bajaj Auto: Maintained leadership at 35.84% (4.38 lakh units), down from 36.01%.
Mahindra Last Mile Mobility: Surged to 6.30% (76,894 units) from 2.70%, driven by EV demand.
YC Electric Vehicle: Grew to 3.66% (44,634 units) from 3.66%.
Piaggio: Declined to 7.32% (89,368 units) from 8.14%.
3.Passenger Vehicles (PV)
Maruti Suzuki: Retained top spot at 40.25% (16.72 lakh units), down marginally from 40.60%.
Hyundai: Share dipped to 13.46% (5.59 lakh units) from 14.21%.
Tata Motors: Fell to 12.90% (5.36 lakh units) from 13.62%.
Mahindra & Mahindra: Jumped to 12.34% (5.13 lakh units) from 10.79%, fueled by SUV demand.
Toyota: Rose to 6.64% (2.76 lakh units) from 5.41%.
4.Commercial Vehicles (CV)
Tata Motors: Share dropped to 33.46% (3.37 lakh units) from 35.69%.
Mahindra & Mahindra: Increased to 25.52% (2.57 lakh units) from 23.94%.
Ashok Leyland: Slightly down to 16.60% (1.67 lakh units) from 16.64%.
5.Tractors
Mahindra & Mahindra (Tractor): Share rose to 23.57% (2.08 lakh units) from 22.94%.
Swaraj Division (Mahindra): Gained to 18.75% (1.66 lakh units) from 17.93%.
International Tractors: Stable at 13.04% (1.15 lakh units).
6.EV Penetration and Market Leaders
Overall EV Penetration: 7.8% in FY’25 (up from 7.1% in FY’24).
7. 2W EVs
Ola Electric: Market share dipped to 29.93% (3.44 lakh units) from 34.79%.
TVS Motor: Jumped to 20.67% (2.38 lakh units) from 19.31%.
Bajaj Auto: Surged to 20.08% (2.31 lakh units) from 11.30%.
Ather Energy: Stable at 11.39% (1.31 lakh units).
8. 3W EVs
Mahindra Group: Combined share at 9.96% (69,616 units), up from 9.58%.
Bajaj Auto: Gained to 7.27% (50,823 units) from 1.72%.
YC Electric: Held 6.38% (44,632 units).
9.PV EVs
Tata Motors: Dominated with 53.52% (57,616 units), down from 70.52%.
MG Motor: Soared to 28.02% (30,162 units) from 12.77%.
Mahindra & Mahindra: Rose to 7.60% (8,182 units) from 6.69%.
10. CV EVs
Tata Motors: Led with 48.46% (4,286 units), down from 65.91%.
Switch Mobility: Emerged with 11.09% (981 units).
Mahindra Group: Claimed 9.72% (860 units).
March’25 Snapshot
2W: Hero Motocorp’s share fell to 28.90% (4.36 lakh units) from 29.45% YoY, while TVS Motor grew to 18.24% (2.75 lakh units).
PV: Tata Motors gained marginally to 13.82% (48,462 units) from 14.10%, while Mahindra surged to 13.20% (46,297 units).
CV: Tata Motors dropped to 32.16% (30,474 units) from 36.05%, while Mahindra rose to 25.51% (24,170 units).
Challenges and Outlook
Dealer Concerns: High inventory (PVs at 50–55 days), aggressive OEM targets, and financing hurdles.Near-Term Risks: Heatwaves, rural liquidity crunch, and global trade tensions.FY’26 Projections: Mid-to-high single-digit 2W growth, low single-digit PV/CV growth, with EVs and rural demand as key drivers.
Disclaimer
Data sourced from FADA’s collaboration with the Ministry of Road Transport & Highways, covering 1,378 RTOs (excluding Telangana). Retail figures reflect registrations, not wholesale dispatches. Market dynamics may vary due to regional factors, economic conditions, and policy changes.