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Indian EV sales rise 15-20% YoY, led by festive demand and incentives, but urban demand stays weak.
Electric vehicle sales in India are rebounding after a post-GST reduction dip, driven by festive season demand and incentives like loyalty discounts and trade-in offers, with retail growth up 15-20% year-on-year.
Small car bookings rose 30-40% due to rural demand and promotions, while compact and mid-sized SUVs remain popular.
First-time buyers increased by 4-5%, signaling broader market momentum.
However, urban demand remains weak, and analysts warn the small car revival may fade without new models or sustained price cuts after the festive period.
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Las ventas indias de EV aumentan un 15-20% interanual, impulsadas por la demanda festiva y los incentivos, pero la demanda urbana sigue siendo débil.