Maruti Suzuki EV Exports and Indian Auto Demand

Maruti Suzuki: EV exports and Indian auto demand India’s electric passenger-car exports went from barely 1,300 units in Q1 FY26 to over 10,800 units in Q1 FY27. Europe alone accounted for most of it, with Spain the single largest buyer at over 4,000 units. Almost all of this boom traces back to Maruti Suzuki’s eVITARA, which wasn’t even part of India’s car export base a year ago. Commercial shipments to Europe only began in August 2025, with just over 2,900 units. By May, it passed 35,000 to 46 countries. But the export boom clashed with everything else happening in Indian autos. Customers wanted more cars than factories could build. Raw material costs were climbing. And in the middle of all of it, every major carmaker was spending heavily to add capacity. Other Indian auto stocks covered in this trend: Tata

Mahindra !mahin Hyundai Tata sold more than 92,000 EVs in FY26 and still holds more than 40% of the Indian EV market. Mahindra’s EV volumes grew 77% year-on-year. Hyundai is building its big EV with locally made battery packs. Maruti’s overall exports grew 28.6%, while the rest of India’s passenger-vehicle industry saw exports fall 8.4%. Indian auto demand is rising, while EV exports, capacity expansion, supply constraints and commodity costs are shaping quarterly performance.