Auto retail to post double-digit growth in June 2026 on 2W, PV strength: Yes Securities

Yes Securities projects healthy retail growth for two-wheelers and passenger vehicles in June 2026, aided by a favourable base and new launches. EV inquiries and bookings up 15-20%, tractor volumes up 23-24% YoY despite price hikes of ₹12-12.5k/unit and subsidy withdrawal. MoM dip of 2-3% expected.

— Source publishedMon, 29 Jun, 2026, 15:06 IST·First seen Mon, 29 Jun, 2026, 15:11 IST·Source The Hindu BusinessLine

What happened

Indian Auto Sector · Yes Securities report projects healthy double-digit retail growth for two-wheelers and passenger vehicles in June 2026 on favourable base

Key facts

  • 2W retail growth >15% YoY
  • MoM decline 2-3%
  • price hikes 0.5-1.5%
  • EV inquiries/bookings up 15-20%
  • tractor volumes up 23-24% YoY
  • tractor price hike ₹12-12.5k/unit

Why this matters

Robust EV inquiry momentum and resilient tractor demand despite ₹12-12.5k price hikes highlight attractive segments for partnership or acquisition bets in the auto retail value chain.

What to watch

  • Monthly FADA retail registration data for June 2026
  • OEM dispatch/wholesale vs retail divergence signalling inventory risk
  • EV booking-to-delivery conversion rates after the 15-20% inquiry spike
  • Monsoon progress and rural sentiment affecting tractor and entry 2W demand
  • Financing rates and dealer inventory days
  • Cross-check Yes Securities projection against FADA/SIAM weekly retail trackers before fading or confirming
  • Screen 2W OEMs (Hero, Bajaj, TVS) and EV-exposed names for momentum continuation into the print
  • Monitor tractor majors (M&M, Escorts) for demand elasticity post price hike and subsidy withdrawal
  • Position for sector rotation into auto ancillaries if 2W/EV booking strength holds

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