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Tesla's entry into the Indian market, marked by a new showroom in Mumbai, faces skepticism from local automakers like Tata and Mahindra, who believe they are well-positioned to compete. Analysts suggest that Tesla's premium pricing and the need for local production may hinder its impact, as Indian brands dominate the affordable EV segment. Despite the hype, significant challenges remain for Tesla to disrupt the entrenched market.
Sajjan Jindal, chairman of JSW Group, expressed skepticism about Tesla's success in India, emphasizing the stronghold of domestic manufacturers Tata Motors and Mahindra & Mahindra. As Tesla prepares to enter the market with a showroom in Mumbai, high import duties and local production challenges remain significant hurdles. Meanwhile, Tata Motors and Mahindra are bolstering their positions in anticipation of increased competition.
Tesla has signed a lease for its first showroom in India, located in Mumbai's Bandra Kurla Complex, with a first-year payment of INR 3.87 Cr for a 4,003 sq ft space. The deal, which includes a five-year tenure and a rent-free period until March 31, sets a new rental benchmark in the country.As Tesla prepares to enter the Indian market, discussions are ongoing regarding U.S. requests for zero tariffs on car imports, amidst India's reluctance to reduce import duties significantly. The Indian EV market is projected to reach $132 billion by 2030, driven mainly by two-wheeler electric vehicles.
Mahindra & Mahindra shares are leading gainers on the Nifty 50 index following an upgrade from UBS, which raised its rating to "buy" despite a slight cut in the price target to ₹3,300. The brokerage views the recent 19% stock correction as an overreaction to Tesla's potential entry into the Indian market, asserting that M&M's strong SUV demand and electric vehicle launches will drive a 9% volume growth by FY26. Currently, 95% of analysts maintain a bullish outlook on M&M, with shares trading 4.3% higher at ₹2,726.3, down 17% from their peak.
Mahindra & Mahindra's share price surged over 4% following upgrades from multiple brokerages, including UBS, which raised its rating to 'Buy' due to a favorable risk/reward ratio. UBS anticipates a 9% growth in M&M's SUV volumes next fiscal year, driven by strong demand and new EV launches. Additionally, the farm equipment segment is expected to thrive, supported by a favorable rural economy and government backing, with M&M gaining market share in tractors.
Mahindra & Mahindra (M&M) shares surged over 4% following a 'Buy' upgrade from UBS, which cited an overreaction to EV concerns after a 19% price drop. The brokerage anticipates a 9% volume growth for M&M in FY26, driven by strong SUV demand and new EV launches, despite recent booking shortfalls. UBS also downplayed the threat from Tesla's India entry, noting that M&M's pricing remains competitive.
UBS has upgraded Mahindra & Mahindra's stock rating from Neutral to Buy, while lowering the price target to INR 3,300. The analyst forecasts a 9% volume growth by FY2026, driven by strong SUV demand and recent EV launches, despite a general industry slowdown. The recent share price drop is viewed as an overreaction, presenting an attractive risk/reward ratio for investors.
Mahindra & Mahindra (M&M) shares rose over 3% following an upgrade from UBS Securities, which changed its rating to 'Buy' but reduced the price target to Rs 3,300 from Rs 3,460. Despite concerns about a slowdown, UBS anticipates a 9% growth in volumes next financial year, fueled by strong SUV demand and upcoming EV launches. The brokerage noted that the 30,000 bookings for recently launched EVs, while below expectations, remain robust compared to January 2025's EV volumes in India.
Mahindra & Mahindra (M&M) shares surged over 3% after UBS upgraded the stock to 'Buy' while lowering the price target to Rs 3,300, indicating a potential upside of over 22%. Despite recent concerns over a market downturn and Tesla's entry into India, UBS believes M&M's strong SUV demand and upcoming EV launches will drive a 9% volume growth in the next financial year. The brokerage views the stock's recent decline as an overreaction, expecting limited impact from Tesla due to its models being ill-suited for Indian conditions.
Mahindra & Mahindra's shares rose 4% after UBS upgraded the stock to 'Buy', citing an overreaction to recent EV news. The brokerage forecasts a 9% volume growth in FY26, driven by strong SUV demand and new EV launches, while noting limited impact from Tesla's potential entry into India. UBS has set a revised price target of Rs 3,300 for M&M, factoring in expected BEV sales volumes.
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