Nifty Auto Slips on EV Tax

  Published 7 months ago

Nifty Auto index dipped after proposed steep EV tax hikes, hitting Mahindra’s luxury electric vehicle plans.

  • Tax panel suggests raising GST on EVs above ₹23,000 to ₹46,000, sparking auto sector concerns.
  • Mahindra & Mahindra shares dropped sharply, as higher levies threaten its premium electric SUV growth strategy.
  • Despite the decline, Nifty Auto gained 12% in 2025, outperforming the broader Nifty 50’s modest 4% rise.

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