Sales | Power Systems Research

2025-09-13

New GST Is Game Changer for Autos, Tractors

The September 2025 GST Council meeting introduced sweeping tax revisions that significantly lower GST rates across multiple vehicle and farm equipment categories. Tractors and their components now attract a 5% rate (from 12% for standard tractors, and from 18% for parts), while small cars, two-wheelers (up to 350cc), three-wheelers, buses, and certain commercial vehicles are enjoying reduced GST from 28% to 18%.

These changes are expected to improve affordability, stimulate demand (especially in rural and semi-urban areas), boost manufacturing and ancillary industries, and lead to job growth across the value chain.

Source: The Times of India. Read The Link

Categories: Agricultural, Indian Subcontinent, Legislation, Passenger Cars, Minivans, and SUVs, Production, Sales

Office: India Office

2025-08-26

GST Reform Is Big Opportunity for OEMs

Aditya Kondejkar

India is preparing for one of its biggest tax reforms in recent years, targeting the Goods and Services Tax (GST) structure. If approved, the proposal will slash GST on small cars and two-wheelers from 28% to 18% and reduce GST on insurance premiums to between 5% and zero. The change, expected around Diwali, has the potential to reshape production planning and sales strategies for automobile manufacturers.

Source: Reuters. Read The Article

Impact on Small Cars and Two-Wheelers. Small cars and two-wheelers have traditionally been the backbone of India’s automobile industry, serving middle-class buyers who are highly price sensitive. However, in recent years, growth in these categories has slowed as buyers shifted toward SUVs, which now account for nearly half of passenger vehicle sales. By lowering taxes, the government aims to make small cars and two-wheelers more affordable, correcting the imbalance in demand and giving OEMs in these categories a much-needed boost.

Categories: Commercial Vehicles, Indian Subcontinent, Legislation, Motorcycles, Recreational Products, Sales

Office: India Office

2025-08-16

South Korea, US Agree on 15% Tariffs

Akihiro Komuro

The South Korean government has reached an agreement with the United States regarding tariff negotiations. Mutual and automobile tariffs will be reduced to 15%, which is the same rate as those of Japan and the European Union (EU).

According to the Korea Trade and Investment Promotion Agency (KOTRA), automobiles are South Korea’s leading export to the United States. Exports to the United States account for over 50% of South Korea’s total automobile exports. The South Korean government prioritized reducing automobile tariffs and engaged in negotiations with the United States.

Categories: Production, Sales, South Korea, Tariff

Office: Japan Office

Tesla Sales in Europe Are in Free-fall

Guy Youngs

Tesla sales in Europe are continuing to decline rapidly, and it appears the pain is just beginning for the automaker. The numbers for July are coming in from Europe and Tesla registrations are down 41.6% despite EV sales surging across the continent.

The data shows that the free-fall decline in sales that we saw in the first half of 2025 is continuing into the second half, despite Tesla falsely claiming that the issue in the first quarter was the Model Y changeover limiting supply.

Categories: Alternative Power, AltPwr, Passenger Cars, Minivans, and SUVs, Sales

Office: United States Offices

2025-07-26

India’s Used Car Market Shifts Toward Profitability

Aditya Kondejkar

India’s used car market has entered a high-growth phase, reflecting a clear structural shift in consumer demand. After years of sluggish expansion, the segment grew 8% in FY25, with FY26 growth expected to touch 10%.

Sales volumes are set to cross the 6-million-unit mark this fiscal. The used-to-new car sales ratio has reached 1.4x, a significant increase from less than 1.0 five years ago. This growth is being driven by a rising preference for value-for-money mobility solutions, especially in a post-pandemic landscape where cost sensitivity remains high.

The used car segment is also increasingly seen as a reliable, first-choice option for new-age consumers, thanks to greater digital access and easier financing. These dynamics indicate that used vehicles are no longer a fallback option, but a mainstream choice for a broad swath of buyers.

Categories: Indian Subcontinent, Passenger Cars, Minivans, and SUVs, Sales

Office: India Office

2025-06-22

Alternative Power Report, June 2025

Guy Youngs

Alternative Power Report – Jun 2025 Download

The Alternative Power Report produced monthly by Power Systems Research reports on development of alternative power sources, legislation related to these sources, and sales and production of EV vehicles. The June 2025 issue contains articles on hydrogen fuel cells being used in trucks and passenger cars, the development of sodium batteries for EVs, a new report by the IEA Global that shows the U.S. falling behind on EVs, and a report on critical minerals for clean energy that are being concentrated in a few countries. PSR

Guy Youngs is Forecast and Technology Adoption Lead at Power Systems Research

Categories: Alternative Power Reports, Commercial Vehicles, Hydrogen, Passenger Cars, Minivans, and SUVs, Production, Sales

Alternative Power Report, May 2025

Guy Youngs

Alternative Power Report – May 2025 Download

The May 2025 issue of the Alternative Power Report contains articles on Volvo’s launch of the world’s first electric articulated Hauler, Aeson Power’s new sodium battery products, the IMO votes on the first-ever global carbon price on shipping, and a report on CATL’s next generation batteries. Read it all here. PSR

Guy Youngs is Forecast and Technology Adoption Lead at Power Systems Research

Categories: Alternative Power, Alternative Power Reports, AltPwr, Batteries, Electrification, Legislation, Passenger Cars, Minivans, and SUVs, Production, Sales

Alternative Power Report, April 2025

Guy Youngs

The April 2025 issue of Guy Youngs’ Alternative Power Report presents articles on Tesla sales and other activities. It also contains several reports on battery development . PSR

Alternative Power Report – Apr 2025 Download

Guy Youngs is Forecast and Technology Adoption Lead at Power Systems Research

Categories: Alternative Power, Alternative Power Reports, AltPwr, Batteries, EV, Passenger Cars, Minivans, and SUVs, Sales, Tariff

Brazil May Surpass Europe in Ag Machinery Sales

Fabio Ferraresi

Deere & Company estimates that Brazil will become its second-largest global market within the next five to ten years, surpassing Europe in sales of tractors, harvesters, and other agricultural equipment.

The forecast is based on the expansion of Brazilian agricultural production, particularly soybeans, corn, and sugarcane. According to Cristiano Correia, Vice President of Production Systems for Latin America, “no other region shows a compound growth rate in grain production comparable to Brazil’s over the next decade.”

The Illinois-based company is holding its first Investor Day in Brazil in over a decade in 2025, gathering around 40 investors from North America, Europe, and Asia.

Deere projects a 27% increase in Brazil’s planted grain area by 2035 and expects corn-based ethanol production to double during the same period.

Categories: Agricultural, Central/South America, Sales, South America/Brazil

Office: Brazil Office

2025-06-14

2025 Russia Heavy Truck Sales Expected to Decline

Chris Fisher

MOSCOW—(TASS) Sales of heavy trucks in Russia in 2025 may decline by 23% year-on-year to 85,000 units, Mikhail Matasov, Deputy General Director of the Russian truck producer Kamaz, told reporters. “The market will be poor in 2025. We currently estimate it at 85,000 units against 110,000 this year. We think that 85,000 is even optimistic,” he said.

Matasov noted that the decline in sales can be attributed to a decrease in demand for cargo transportation.

“If there is no construction, then there will be fewer dump trucks (needed). We also provide trucks for cargo transportation industry – if there are fewer of them, then there will be fewer haulage trucks,” he explained.

“The plan for 2025 is, in my opinion, 10,000 units. But we don’t know if there will be that many, because Chinese brands have large warehouse stocks,” Matasov added.

Categories: Commercial Vehicles, North America, Production, Russia, Sales

Office: United States Offices

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