Electric car, SUV sales at all time high aided by new launches

    Between April to September 2022, Tata EVs dominate with 85 percent market share; MG's market share, sales increase.

    Published On Oct 12, 2022 08:00:00 AM


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    If the past few months are anything to go by, electric mobility is a hot topic right now, and this can be witnessed in the increasing sales and technology of electric vehicles (EVs). Electric two-wheeler sales have also been on the upswing for quite some time now.

    In fact, at 2,77,910 units, sales of electric two-wheelers in the April-September 2022 period (first half of FY2023) witnessed a 404 percent increase over the 55,147 units sold in the same period last year, and sales of EV cars aren't too far behind.

    The latest retail numbers, as tweeted by FADA president Vinkesh Gulati, reveal that cumulative retails in the first six months of this financial year stand at 18,142 units, which is a 268 percent year-on-year growth (H1 FY2022: 4,932 units). Importantly, there has been a month-on-month growth too. Also, Q2 FY2023’s (July-September 2022) 10,015 units are a 23 percent increase over Q1’s (April-June) 8,127 units.

    This gradual shift of ICE buyers to electric cars comes at a time when petrol and diesel prices are soaring, along with a marked rise in CNG price, which was recently hiked for the seventh time this year.

    Electric car sales: April-September 2022
    Mahindra & Mahindra139192617112196
    BMW India17955252788
    Jaguar Land Rover37000111

    Tata Motors' 85 percent market share

    Market leader Tata Motors, which now has three EVs on sale – the Nexon EV, Tigor EV and Tiago EV – has an overwhelming 85.53 percent market share with 15,518 units. This makes for a monthly average of 2,586 units. The company had sold a total of 19,105 units in FY2022 – its first-half FY2023 tally is already 81 percent of that.

    Tata, which is gunning for overall passenger vehicle sales of 5,00,000 units this fiscal, is hoping that EVs account for 10 percent of that – at present, it is 34,482 units shy of that target with six months to go this financial year. The recently launched Tiago EV, which is India’s most affordable electric car currently on sale, could help improve those numbers from January 2023, when deliveries will begin.

    MG Motor India market share increases

    MG Motor India, with its premium ZS EV, is second in the rankings chart with 1,591 units. Having sold 727 units in the first quarter of FY2023, Q2 sales of 827 units are a 19 percent increase. This gives it an 8.32 percent market share, which is creditable, given that the company only has a single EV on sale versus Tata’s three.

    The company could be seeing considerable demand for its sole EV on offer due to rising fuel prices. Moreover, the ZS EV – in its facelifted avatar introduced this March – offers 42km more range than before. With an uptick in the adoption of EVs in the market, especially after COVID-19, the company is now focusing on volumes by entering the more affordable segment. Work is underway to bring a compact two-door EV, based on the Wuling Air EV, next year, in the Rs 10 lakh-15 lakh price range.

    Hyundai Motor India, with 309 units, is placed third and has recorded its highest monthly retail in September: 74 units. While the Kona, Hyundai’s sole EV, may not appeal to those who like their SUVs to look rugged, it comes with green credentials that are the envy of most cars. It can go up to 300km on a single charge and takes just 57 minutes for a full charge using a DC fast charger.

    BYD Atto 3 SUV bookings open

    BYD India opened bookings for its second all-electric model for India on Tuesday – the Atto 3 SUV – which will compete with the Tata Nexon EV, Hyundai Kona and MG ZS EV. The manufacturer has sold 264 e6 MPVs in the past six months, which places it fourth in the rankings table.

    Deliveries for the BYD Atto 3 EV SUV are expected to start early next year, and the manufacturer will announce prices next month.

    Meanwhile, luxury car players – Mercedes-Benz, BMW, Audi, Jaguar Land Rover – have retailed 233 electric cars, between them. Mainly brought as CBUs to India as a halo product, these cars essay the latest in EV technology the world has to offer.

    With manufacturers' sharpened focus on localisation to reduce costs and enhance affordability – and battery prices expected to reduce gradually – sales of four-wheeler EVs is only expected to improve.

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