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India’s automobile sector is entering an aggressive product cycle ahead of the festive season

ICICIdirect Research 16 Jun 2026 DISCLAIMER

News: According to media sources, India’s automobile sector is entering an aggressive product cycle ahead of the festive season, with automakers planning to launch 23 new passenger vehicle models over the next nine months, of which 16 will be electrified models including battery EVs, plug-in hybrids and hybrid-assisted vehicles. According to the report, major players such as Mercedes-Benz India, Tata Motors, Toyota Motor Corporation, BYD Auto, MG Motor India, Hyundai Motor Company, M&M and Maruti Suzuki are driving this shift.

View: For every new ICE model there is more than 2 electrified products lining up as OEMs respond to rising fuel costs and changing consumer preferences. This trend is positive not only for vehicle manufacturers but also for the broader ecosystem including battery suppliers, auto component makers, and charging infrastructure companies. 

Impact: Positive

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