• Export and 3-wheeler growth: Exports jumped 47% YoY in July and 60% year-to-date driven by South Africa, Australia, and Indonesia, while EV penetration in the 3-wheeler L5 category reached 40.2% in Q1.
• SUV volume rebound: A marginal dip in July SUV sales resulted from a four-day plant shutdown for capacity enhancement, with production volumes expected to recover in August ahead of the festive season.
• Margin recovery outlook: Management expects to maintain or slightly improve its Q2 margin profile, supported by stabilizing commodity costs and price hikes implemented in January (1%), April (1.3%), and July (2.7%).
• E-SUV capacity utilization: E-SUV production is tracking between 7,000 and 7,500 units per month against an operational capacity of 8,000, with more than 50% of the volume driven by the XUV9s.