Tata Motors continues to dominate the EV market.
Elevated product availability, buoyant client demand, and an increasing charging infrastructure led to a report excessive of 81,870 electrical passenger autos offered in CY2023. Tata Motors continues to dominate the Indian auto market with a 73% market share, adopted by MG Motor India and Mahindra & Mahindra. There have been 2,582 luxurious autos offered in 2016, representing a 355% improve over the earlier yr.
We will observe on our roads an rising variety of green-plated SUVs, sedans, and extra lately hatchbacks, indicating the shift in the direction of e-mobility on 4 wheels. Regardless of the upper preliminary value of electrical autos compared to petrol and diesel, an increasing number of passengers are selecting to buy a wallet-friendly EV over their petrol or diesel counterparts.
In retail gross sales, this motion will be noticed. In line with Vahan, within the 12 months of CY2023, 81,870 electrical automobiles, SUVs, and MPVs had been offered. This represents a rise of 43,613 models, a development of 114% YoY (CY2022: 38,257 models).
Electrical automotive & SUV Gross sales Surpass 80,000 models in cy 2023 to register 114% development.
Yr
Jan
Feb
Mar
Apr
Might
Jun
July
Aug
Sep
Oct
Nov
Dec
Whole
CY 2023
3,442
4,758
8,833
6,036
7,708
7,969
7,765
6,999
6,342
7,520
7,374
7,124
81,870
CY 2022
1,563
2,454
3,727
2,257
2,966
3,214
3,415
3,371
3,552
3,916
3,982
3,840
38,257
% Change
120%
94%
137%
167%
160%
148%
127%
108%
79%
92%
85%
86%
114%
Date: Vahan, January 1, 2024, 4:30 am.
CY 2023 is a record-breaking yr for electrical automobile retail gross sales in India: 1.52millions
1.52 million gross sales & up 49%
Yr
Jan
Feb
Mar
Apr
Might
Jun
July
Aug
Sep
Oct
Nov
Dec
Whole
CY2023
1,02,872
1,07,221
1,40,922
1,11,356
1,58,433
1,02,547
1,16,492
1,27,069
1,28,397
1,39,975
1,53,421
1,37,728
15,26,433
CY2022
51,505
58,120
83,132
77,629
69,945
75,876
80,881
89,013
94,911
1,17,500
1,21,598
1,05,008
10,25,118
% Change
100%
84%
70%
43%
127%
35%
44%
43%
35%
19%
26%
31%
49%
Date: Vahan, January 1, 2024, 4:30 am.
The sale of electrical PVs has exceeded 7,000 models for eight consecutive months since Might 2023, ensuing within the sector clocking its best-ever annual gross sales of 81,870 models in the identical interval.
In retail gross sales, this motion will be noticed. In line with Vahan, within the 12 months of CY2023, 81,870 electrical automobiles, SUVs, and MPVs had been offered. This represents a rise of 43,613 models, a development of 114% YoY (CY2022: 38,257 models). Contemplating the info desk above, it’s evident that demand has been sustained over the previous yr. Though one of the best month for FY2023 was March (2023), Might (7,708 models), June (7,969 models), July (7,765 models), October (7,520 models), November (7,374 models) and December (7,124 models) have all exceeded 7,000 models in gross sales.
Because the market chief in electrical PV, Tata Motors has offered an estimated 59,580 models, up 86% YoY (CY2022: 31,972 models) to take care of its commanding lead, which incorporates the Nexon EV, Tigor EV, Tiago EV, and the Xpres-T (for fleet consumers). Tata Motors has a 73% market share with the Nexon EV, the Tigor EV, the Tiago EV and the Xpres- Historically, Tata had a market share of over 80%, however this share has now declined because of the increasing EV market, which now provides a wider collection of merchandise from a rising variety of opponents.
MG Motor:-
Because of its 9,430 models served by the ZS EV and Comet EV, MG Motor India is the nation’s second-ranked ePV OEM, with a market share of 11.51 p.c. In CY2023, the corporate offered 3,430 models, a rise of 175 p.c over CY2022.
Mahindra & Mahindra :-
With 4,201 models, Mahindra & Mahindra is ranked third. As of this writing, the corporate, which sells the all-electric XUV400 – the corporate’s first actual competitor to the high-selling Tata Nexon EV – and the eVerito sedan, has a 5.13% share of the EV market.
BYD India:-
which sells the Atto 3 SUV and e6 MPV, is ranked fourth with gross sales of 1,997 models, up 341% YoY (CY2022: 343 models), and a market share of two.43 p.c.
Electrical Passenger Car Retail Gross sales Leap 114% To Over 80,000 Items CY2023
Manufacture
Jan
Feb
Mar
Apr
Might
Jun
July
Aug
Sep
Oct
Nov
Dec
Whole
Tata Motors
2,471
3,917
7,303
4,492
6,006
5,479
5,461
4,771
4,312
5,538
5,024
4,806
59,580
MG Motor India
435
362
517
350
464
1,158
1,237
1,202
891
929
935
950
9,430
Mahindra & Mahindra
0
7
259
537
389
412
380
405
359
273
518
662
4201%
Byd India
140
242
300
164
146
184
118
104
151
141
139
168
1,997
PCA Vehicles
0
0
209
240
324
336
223
118
141
172
126
49
1,938
Hyundai Motor India
117
50
48
54
170
160
116
186
213
195
165
123
1,597
BMW India
126
59
55
67
75
100
105
84
75
84
280
160
1,280
Volvo Auto India
29
36
52
36
45
44
35
46
55
51
70
54
553
Mercedes-Benz
44
33
35
30
19
37
37
21
73
38
58
80
505
Kia India
48
30
23
38
47
39
29
28
35
52
37
30
436
Audi
8
9
7
5
7
7
9
15
26
20
11
16
140
Porsche
4
1
7
5
6
2
4
13
5
16
6
26
95
Jaguar Land Rover India
1
1
1
2
2
1
1
0
0
0
0
0
9
Date: Vahan, January 1, 2024, 4:30 am.
Within the EV market, PCA Vehicles India (Citroen India), which entered {the marketplace} lately, is barely 59 models behind BYD India. Up to now 10 months because the Citroen eC3, the electrical model of the C3 hatchback, was launched at Rs 11.50 lakh on the finish of February, 1,938 models have been offered. Consequently, PCA India has a market share of two.36% for electrical autos – a really spectacular determine for a brand new entrant and a sign that e-hatchbacks are anticipated to be in excessive demand sooner or later.
The Korean automakers Hyundai Motor India and Kia India have collectively offered 2,033 models, a 144% improve over the earlier yr (CY2022: 834 models). A complete of 1,597 Kona and Ioniq 5 autos had been offered by Hyundai, a rise of 158% over the 619 models offered in CY2022, whereas Kia offered 436 EV6s, a rise of 103% over the 215 models that had been offered in CY2022.
In line with Vahan knowledge, luxurious carmakers in India offered 2,582 models in CY2023, which represents a development of 355% over the earlier yr’s 567 models. With 1,280 models, BMW India leads the pack, adopted by Volvo Auto India (553 models), Mercedes-Benz (505 models), Audi (140 models), Porsche (95 models) and Jaguar Land Rover (9 models).
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