Eight in 100 cars sold in India are now EVs; Tata leads the charge
GST Council moved higher in a taxation development.
7 Oct 2026 · Business Today Mkts
EVs hit an 8.45% share of September car sales as FADA warns that price hikes could undo some of the affordability gains from GST 2.0.
The analysis
GST Council reported movement of 8.45%. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
This is a Tax / tariff / duty event. Duty and incentive changes reset landed cost and competitive position immediately, and unlike demand shifts they arrive on a known date.
Why it matters
- Tax changes flow through to post-tax earnings and can shift the relative appeal of entire asset classes.
- With GST Council involved, this carries a regulatory dimension that can outlast the immediate market reaction.
Market context
- The immediate tone of coverage reads positive.
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