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Electric Car sales in January 2024 | Tata Motors Lead

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Robin Kumar Attri
Robin Kumar Attri
|Updated on:12-Feb-2024 12:21 PM

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ByRobin Kumar Attri

Updated on:12-Feb-2024 12:21 PM

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Tata Motors leads Jan sales with 11% growth; MG Motors and Mahindra show progress, while BYD and BMW face challenges.

Electric Car sales in January 2024 | Tata Motors Lead

In January 2024, Tata Motors has taken the lead with an impressive sales figure of 5,543 units, a notable increase from December 2023's 5,001 units. This surge in sales reflects a significant 11% growth, reaffirming Tata Motors' stronghold in the market. The brand's market share stands at an impressive 68.61%, showcasing its continued dominance in the automotive sector.

MG Motors has also shown commendable progress, recording a sales figure of 1,152 units in January, up from 988 units in December 2023. This translates to a 17% growth, indicating a positive trajectory for the brand. MG Motors' market share now stands at 14.26%, solidifying its position in the market.

Mahindra & Mahindra has maintained steady growth with a January sales figure of 740 units, up from 682 units in the previous month. This 9% increase reflects the brand's commitment to sustained progress. Mahindra & Mahindra currently holds a 9.16% market share.

Hyundai Motors has made significant strides in January, recording 161 units in sales, a substantial increase from December 2023's 126 units. This impressive 28% growth signifies Hyundai's strong market presence, securing a 1.99% market share.

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Electric Car sales in January 2024 | Tata Motors Lead

BYD experienced a setback in January, with a decrease in sales from 174 units in December 2023 to 148 units. This marks a 15% decline, and the brand's market share has decreased to 1.83%.

Both BMW and Mercedes-Benz AG faced challenges in January, recording decreases of 18% and 33%, respectively. BMW's sales dropped from 177 units to 145 units, while Mercedes-Benz AG saw a decline from 84 units to 56 units. Despite these setbacks, both brands continue to maintain a presence in the market, with market shares of 1.79% and 0.69%, respectively.

Electric Car sales in January 2024 | Tata Motors Lead

Volvo experienced a slight dip with a 21% decrease in sales, from 62 units in December 2023 to 49 units in January. Kia Motors, on the other hand, showcased progress with a 13% increase, from 30 units to 34 units. Volvo's market share is now 0.61%, while Kia Motors holds a 0.4% market share.

PCA Automobiles faced a significant decrease in sales, with a 46% drop from 52 units in December 2023 to 28 units in January. Other brands collectively experienced a 48% decrease in sales, dropping from 44 units to 23 units. PCA Automobiles and other brands now hold market shares of 0.35% and 0.28%, respectively.

Brand

Jan-24

Dec-23

Diff

Change %

Market Share Jan-24

Tata Motors

5,543

5,001

542

11%

68.61%

MG Motors

1,152

988

164

17%

14.26%

Mahindra & Mahindra

740

682

58

9%

9.16%

Hyundai Motors

161

126

35

28%

1.99%

BYD

148

174

-26

-15%

1.83%

BMW

145

177

-32

-18%

1.79%

Mercedes-Benz AG

56

84

-28

-33%

0.69%

Volvo

49

62

-13

-21%

0.61%

Kia Motors

34

30

4

13%

0.4%

PCA Automobiles

28

52

-24

-46%

0.35%

Others

23

44

-21

-48%

0.28%

Total

8,079

7,420

659

9%

100%

CarBike360 Says

The automotive market has seen an overall growth of 9%, with total sales reaching 8,079 units in January, up from 7,420 units in December 2023. This positive trend suggests a promising start to the new year for the automotive industry.


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