The automotive wholesales numbers for September 2024 and Q2 FY2025 are out, seeing mixed results.

As per the latest data released by the Society of Indian Automobile Manufacturers (SIAM), the apex body representing automakers in India, for September 2024, the passenger vehicle segment sold 356,752 which was down 1 percent YoY compared to 361,717 units sold last year.

On the other hand, the three- and two-wheeler segments continued to power the overall sales with 79,683 units and 2,025,993 units, seeing 7 percent and 16 percent growth respectively. This translates to a total of 2,462,431 vehicles sold in September, up 13 percent, compared to 2,186,270 units sold last year.

Similarly, in Q2 FY2025, a total of 6,663,875 vehicles were sold, registering a 9 percent growth YoY, as compared to 6,116,773 units sold last year.

Of this, passenger vehicle sales declined by 2 percent at 1,055,137 units; commercial vehicles barring buses were all in the red. A total of 220,643 commercial vehicles were sold, registering a decline of 11 percent YoY, as compared to 247,801 units sold last year.

The three-wheeler and two-wheeler segments continued to be the bright spot with sales of 208,718 units (7% YoY) and 5,179,349 units (13% YoY) respectively.

Shailesh Chandra, President, SIAM said, “The overall Indian automobile industry remained strong in Q2 2024-25 with 8.9 percent growth compared to Q2 2023-24. Two- and Three-Wheelers continued to post strong growth of 12.6 percent and 6.6 percent respectively, while passenger vehicles and commercial vehicles posted some degrowth in Q2 of 2024-25 compared to 2023-24. Heavy rainfall in key states and almost the entire ‘Shradh’ period falling in the month of September, did impact the sales numbers of some of the segments. With the rains easing and continued infrastructure spending, and the arrival of the festive season boosting consumption, we anticipate healthy demand in the next quarter.”

Rajesh Menon, Director General, SIAM said, “Although passenger vehicle segment de-grew by 1.8 percent in Q2 of 2024-25 as compared to Q2 of last year, for the 3rd time it crossed the 1 million mark in Q2, posting a sales of 1.06 million units. Two-wheelers posted sales of 5.18 million units in Q2 for FY 24-25 as compared 4.60 million units in Q2 of last year. Three-wheelers posted the highest ever sales of Q2 with 2.09 lakh units. Commercial vehicles posted a degrowth of 11 percent in Q2 of 2024-25 as compared to Q2 of last year, with sales of 2.21 lakh units.”

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The first month of FY2026 has begun on a slow start with almost all segments in the red, barring SUVs, which seems to be on a dream run.

A total of 1.85 million vehicles were sold last month in the country, which was a 13 percent decline as compared to 2.13 million vehicle sold last year. Even when compared to March 2025, this translates to a decline of 12 percent.

Looking at the passenger vehicles segment, SUVs with 201,062 units sales grew by 12 percent, while passenger cars and vans saw a decline of 5 percent respectively. A total of 348,847 passenger vehicles were sold last month, which was 4 percent higher YoY.

The three-wheeler space saw a flat decline with 49,441 units sold across categories, as compared to 49,774 units sold last year.

The two-wheeler segment registered a decline of 17 percent YoY, with 1.45 million units sold, as compared to 1.75 million units sold last year and 1.65 million units sold last month.

The scooter segment with 548,370 units saw a decline of 6 percent YoY , while motorcycle sales declined by 23 percent YoY at 871,666 units sold last year.

Rajesh Menon, Director General, SIAM said, “Passenger vehicles segment posted its highest-ever sales of April in 2025, with a growth of 3.9 percent as compared to April 2024. Auto industry smoothly transitioned to the new regulatory regime of 2nd stage of On-Board Diagnostics (OBD) 2 regulation for two-wheelers and three-wheelers from April 2025 onwards, in addition to rolling out E20 compliant gasoline vehicles across the country from this month.”

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Venkat Rajaram, Cygni Energy, Founder & CEO, along with Vipul and Gautam.

Hyderabad-based Cygni Energy has unveiled Phase I of its fully automated Battery Energy Storage System (BESS) gigafactory at E-Mobility Valley in Maheshwaram, Hyderabad, signalling a major leap in India’s electric vehicle (EV) and clean energy manufacturing landscape. The company is investing INR 2.5 billion over two phases to ramp up capacity from 4.8 GWh to 10.8 GWh over the next 12–24 months.

With a sharp focus on electric mobility, energy storage systems, and next-generation battery chemistries, Cygni is positioning itself to meet growing domestic and international demand for sustainable energy solutions. The company is also actively developing sodium-ion and sulphur-based batteries to complement traditional lithium-ion chemistries, alongside investments in thermal safety, recycling and advanced energy management algorithms tailored to Indian conditions.

Venkat Rajaraman, Founder & CEO, Cygni Energy, said, “In the long term, as part of India’s 100 GWh roadmap, we expect to become self-sufficient in cell manufacturing. We are also seeing a convergence of newer chemistries like sodium and sulphur. Sodium-ion batteries, in particular, are expected to play a critical role in India’s EV journey –given their lower cost of USD 6 per kWh versus USD 24 for lithium. While lithium demand currently exceeds sodium by 3x, India’s early-stage advantage allows us to leapfrog.”

“We cater to three markets – BESS, commercial and industrial storage, and electric vehicles. We have been manufacturing EV battery packs for a long time, earlier from a rental facility and now from our own factory. Today, we have a gigawatt-scale order pipeline for two- and three-wheeler EVs and large-scale storage systems. We’re also working with IIT-Madras' Centre of Battery Engineering and Electric Vehicles (C-BEEV) to co-develop future technologies. EVs contributed nearly 50 percent of our revenue till FY2025.”

The new facility spans 160,000 square feet and is engineered with automated Poka-Yoke-enabled lines and end-to-end traceability for high-quality battery module production. Till date, the company has raised USD 6.4 million in 2018 and USD 12.5 million in 2022 to fund its expansion.

The first phase investment of INR 1 billion supports an initial 4.8 GWh capacity. An additional INR 1.5 billion will be invested to reach 10.8 GWh under Phase II. The company expects to generate INR 26 billion revenue from Phase I, which it aims to double post-expansion.

Cygni’s batteries are designed for EV and grid-scale applications. The company has delivered over 500 MWh of batteries and claims to have a confirmed 1 GWh order pipeline, with growing traction in electric two-wheelers, three-wheelers and small commercial vehicles (SCVs). Most of the 80-plus components in its battery systems – such as busbars, cell holders, thermal and mechanical elements – are now locally sourced, reflecting India’s evolving EV ecosystem.

Jayesh Ranjan, Special Chief Secretary to the Government of Telangana and CEO of the Industry & Investment Cell in the CMO, inaugurated the facility alongside Prof. Ashok Jhunjhunwala, Chairman of IIIT-Hyderabad, and Srini Raju, Founder of iLabs Group.

Jayesh Ranjan, said, “The inauguration of Cygni’s battery manufacturing gigafactory in Telangana marks a transformative step toward sustainable energy, manufacturing excellence, and innovation. This facility not only strengthens India’s commitment to clean energy but also creates jobs, fosters local talent, and builds a robust ecosystem for the future of energy storage solutions.”

Cygni expects to create over 1,000 direct and indirect jobs and is planning additional 2 GWh cell-to-pack automated lines as part of its future roadmap. With government support and rising EV adoption, the company is well-positioned to be a catalyst in India’s energy transition

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Chennai-headquartered two-wheeler and three-wheeler major TVS Motor Company has announced its financial results for FY2025. The company reported a record revenue of INR 362.51 billion, up 14 percent YoY, as against INR 317.76 billion a year ago.

The operating EBITDA came at 12.3 percent, while the net profit grew by percent at INR 27.11 billion, as against INR 20.83 billion last year.

During the year the company sold a total of 4.74 million vehicles, up 13 percent, as against 4.19 million vehicles last year. This includes 2.19 million motorcycles and 1.90 million scooters, clocking a growth of 10 percent YoY and 21 percent YoY respectively.

Electric vehicles sales grew by 44 percent to 279,000 units, as against 194,000 units last year. Three-wheeler sales came at 135,000 units, as against 146,000 units last year.

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Hindustan Zinc, the world’s largest integrated zinc producer, is marking World Corrosion Awareness Day on 24 April with a nationwide campaign titled #ZungKeKhilaafZinc, aimed at raising awareness about corrosion and promoting zinc galvanisation as a preventive solution.

The company shared that corrosion costs India around 5 percent of its GDP annually –over USD 100 billion – in infrastructure and asset damage. The company’s campaign included social media outreach, public demonstrations and a consumer survey to highlight the economic and structural impact of corrosion.

As part of the initiative, the company undertook a demonstration in Udaipur, where galvanised and non-galvanised two-wheelers were displayed side by side to show the visible difference in corrosion resistance. The initiative targeted general consumers, especially in the automotive and infrastructure sectors.

Arun Misra, CEO, Hindustan Zinc, said, “Corrosion poses a serious threat to our infrastructure and the nation’s economy at large. At Hindustan Zinc, we believe awareness is the first step toward real change. While it’s essential for manufacturers to adopt galvanisation, consumers also play a vital role by asking the right questions – especially when it comes to long-term investments like homes and vehicles. Through #ZungKeKhilaafZinc, we’re committed to educating industries and individuals alike about the critical value of zinc protection.”

India’s climate makes it especially vulnerable to corrosion, but global examples such as Japan and Australia show that losses can be reduced with protective measures. In the automotive industry, galvanised steel is increasingly used in vehicle structures to improve durability and reduce maintenance costs.

Hindustan Zinc had recently introduced EcoZen, a low-carbon zinc product made using renewable energy, and continues to supply to over 40 countries. The company holds about 75 percent of India’s primary zinc market.

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