Electric car sales in India during April to September 2021 saw a 234 percent YoY increase with Tata Nexon EV being the best-selling model in this segment
Ever increasing price of fuel, increased preference for zero emission vehicles coupled with subsidies and benefits offered by State and Central Governments under the FAME II initiative, has resulted in an increased demand for electric passenger vehicles.
However, the electric passenger vehicle segment is still in its nascent stage. This segment commands less than 1 percent of total PV sales in India but demand is growing by leaps and bounds. With just a few automakers having entered this segment, sales figures for the first half of FY2022 (6,261 units) have already surpassed EV sales in all of FY2021 which had stood at 5,905 units.
Electric Car Sales India H1 FY 2022
Taking into account the first half of this calendar year, April – September 2021, total EV sales of these automakers stood at 6,261 units, up 234 percent over 1,872 units sold in the April to September 2020 period. This was a difference of 4,389 units. Leaders in this segment include automakers such as Tata Motors (Nexon and Tigor EV), MG Motors (ZS EV), Hyundai (Kona) and Mahindra (Verito).
Tata Motors has been dominating the EV space with its two models Nexon EV and Tigor EV. The company also has the Xpres T EV, however, this electric sedan is exclusively for fleet customers. These account for over 70 percent of electric vehicles sold during the 6 month period of 2021.
The company has reached a 7 month total of 6,005 units and expects to surpass the 10,000 unit mark to set a new record in the EV segment this year. Last month, Tata Motors also revealed plan to launch ten more electric cars in India over next five years. An amount of Rs 7,500 crore has been raised for this venture and out of these ten EVs being planned at least seven cars will be launched over the next four years.
Tata Nexon EV Tops List
Nexon EV was the best-selling model in this segment, commanding a 58 percent market share. Total sales from April-September 2021 stood at 3,618 units, up 214 percent of 2,466 units over 1,152 units sold during the April-September 2020 period.
MG ZS EV was at No. 2 with 1,789 units sold in the April-September 2021 period, an increase of 250 percent or 1,278 units over just 511 units sold during the same 6 month period last year. The MG ZS EV commands a 29 percent share.
At No. 3 was Tata Tigor EV with sales of 801 units in April-September 2021, up 701 percent from 100 units sold in the April-September 2020 period. Commanding a 13 percent market share, the Tigor EV got updated earlier this year with a better battery and updated features. This 5 seater sedan available in 4 variants and in a price range of Rs. 11.99 – 13.14 lakh.
Even as Hyundai Cars India was the forerunner in this segment with its Kona electric launched ahead of all others, sales have not been encouraging. Hyundai Kona sales have dipped 50 percent from 101 units sold in April-September 2020 to 51 units in the same period of this year. Trailing the list of electric passenger vehicles was the Mahindra Verito with just 2 units sold in the April to September 2021 period, down from 8 units sold in the same period of 2020 relating to a 75 percent de-growth.
Source: Electric - rushlane.com