EV Car Sales Detailed Report for April 2024, Tata & MG Lead in Market Share

Key Highlights:

• The EV 4-wheeler sector saw a MoM decline of 24.5%
• The sector also saw a YoY growth of 25.08%
• Tata continues to lead, MG at 2nd & M&M at 3rd rank

The Indian car market saw a total sale of 7,290 electric cars in the month of April 2024. When compared to 9,659 ev cars sold last month i.e. March 2024, this comes as a MoM decline of 24.5%. However, comparing the April 2024 sales number to the 5,828 ev cars sold in the same month of last year i.e. April 2023, there comes a YoY growth of 25.08%.

Moreover, looking at the list of top OEMs in the EV 4 wheeler sector, Tata Motors i.e. Tata.ev or Tata Passenger Electric Mobility remains the market leader with MG Motors at second position and Mahindra (M&M) at third position.

Lets take an in-depth look at the EV 4-wheeler sales data for the month of April 2024.

Tata Motors Continues To Lead The EV Race

Tata Motors sold a total of 4,893 electric cars in April 2024, continuing its market leader position with 67.1% market share. However, the Indian auto giant had sold 7,115 ev cars in the previous month i.e. March 2024, resulting in a MoM decline of 31.2%.

On the other hand, comparing Tata's April 2024 sales figure to April 2023 sales figure of 4,388 ev cars, the auto maker saw a YoY growth of 11.5%.

Moreover, Tata's market share in April 2023 stood at 75.3%, which now stands at 67.1%. That's a decline of 8.2%.

Tata Motors currently has a portfolio of 5 electric cars in India. These include Tiago.ev, Tigor.ev, Punch.ev, Nexon.ev and Xpres-T EV. In the coming few months Tata is scheduled to launch 5 new electric cars. The list includes Curvv/Azura EV, Harrier EV, Safari EV, Sierra EV and likely Altroz EV.

MG Motors India Maintains Its 2nd Position

MG Motors India has achieved a sale of 1,179 ev cars in the month of April 2024. Last month it sold a total of 1,161 ev cars. That results in a minute MoM growth of 1.6%.

However, when comparing MG's April 2024 sales number to April 2023 sales number of 335 units, it comes out to be a massive YoY growth of 251.9%.

Moreover, what's surprising is that with just 5.7% market share & 3rd position in April 2023, MG has now climbed up to 2nd position and has a market share of 16.2%. That's a significant YoY growth of 10.5%.

MG Motors India lineup currently has just 2 electric models i.e. MG Comet EV and MG ZS EV.

Mahindra Remains The 3rd Biggest EV Brand

Mahindra & Mahindra has managed to gram a market share of 8.5% in the month of April 2024 with just one ev model i.e. XUV400 Electric. The company sold a total of 621 units of it in April 2024 and 681 units in March 2024. That results in a MoM decline of 8.8%.

Moreover, with 505 units of XUV400 sold in April 2023, the SUV maker has seen a substantial YoY growth of 22.9%.

Additionally, M&M has also seen a slight decline in its market share with 8.5% & 3rd ranking in April 2024 compared to 8.7% and 2nd ranking in April 2023.

Where Do Other Brands/OEMs Stand?

The fourth position in the list of top selling EV car brands in April 2024 was grabbed by the Chinese auto giant BYD (Build Your Dreams). In April 2024, the EV maker sold 136 units compared to 140 in March 2024 and 154 in April 2023. That results in a MoM decline of 2.9% and a YoY decline of 11.6%.

BYD's market share stood at 1.9% in April 2024 compared to 2.6% in April 2023. Its current ev portfolio in India consist of BYD e6, BYD Atto 3 and the newly launched BYD Seal.

Hyundai Motor India Limited (HMIL) sold 84 units of EVs in India in the month of April 2024 compared to 152 units in March 2024 and 51 units in April 2023. That's a MoM decline of 44.7% but a YoY growth of 64.7%. Hyundai currently sells 2 electric models in India i.e. Kona Electric and Ioniq 5.

Citroen India sold 127 eC3 (C3 Electric) in April 2024 compared to 178 in March 2024 and 229 in April 2023. This comes out to a MoM decline of 28.7% and a YoY decline of 44.5%.

Kia Motors India sold just 20 units of EV6 in April 2024 compared to 34 in March 2024 as well as April 2023, resulting in a MoM as well as YoY decline of 41.2%.

In the luxury segment, BMW sold 54 units of EVs, Mercedes Benz sold 119 units of EVs and Volvo sold 36 units of EVs in April 2024. Similarly their sales number in March 2024 stood at 73, 53 and 46 respectively.

CarBike360 Says

The Indian electric car market is set to witness the arrival/debut of 4 new electric car brands in the next couple of years. These include Tesla, VinFast, Leapmotor and Fisker. With these new players, the Indian EV 4-wheeler sector will likely see even greater competition and growth, thus propelling India's transition towards electric mobility.