The electric passenger vehicle segment saw sales surge past the 10,000 unit mark in October 2024 posting a 39% YoY and 80% MoM growth
Electric cars in India saw a significant improvement in sales in October 2024. FADA has revealed that numbers grew to 10,609 units crossing the 10,000 unit mark. This was a 39.12% YoY growth from 7,626 units sold in Oct 2023. MoM sales surged even more by 80.61% from 5,874 units sold in Sept 2024. New models such as the MG Windsor and BYD e-Max 7 are recent additions to this segment.
Electric Car Sales Oct 2024 – Tata Commands 72% Market Share
Tata Motors dominated the market with a 72% share. Sales stood at 6,152 unit in Oct 2024. This was a 9.90% YoY and 69.90% MoM growth over 5,598 units and 3,621 units sold in Oct 2023 and Sept 2024 respectively. The company also has the most electric models in its lineup with the Nexon and Tigor along with the Punch, Tiago and Curvv in this segment.
MG Motor and Mahindra followed, both of which have seen outstanding improvement across their respective electric car lineups. MG Motor sales went up to 2,530 units in Oct 2024 which was a 168.01% YoY growth from 944 units sold in Oct 2023. MoM sales also surged by 158.96% from 977 units sold in Sept 2024. Deliveries of the new MG Windsor EV have just commenced and sure to take sales figures up a notch considering the company received over 15K bookings on the first day itself.
Electric car sales of Mahindra’s sole electric offering, the XUV400 stood at 907 units. This related to a 227.44% YoY and 99.78% MoM growth. Sales had stood at 277 units and 454 units in Oct 2023 and Sept 2024 respectively. Mahindra recently teased 2 electric SUVs. The new BE 6e and XEV 9e electric SUVs will be making their global debut on 26th November 2024.
Triple digit YoY and MoM growth was also reported for BYD India with 363 unit sales in the past month. This was a 152.08% YoY and 122.70% MoM growth from 144 units and 163 units sold in Oct 2023 and Sept 2024. The new eMax 7, an all-electric MPV is being presented in two variants of Premium and Superior, rated to deliver 420km and 530km on a single charge. Citroen sales showed off strong YoY growth to 254 units with a 45.98% YoY improvement. MoM sales however suffered a 34.20% decline over 386 units sold in Sept 2024.
BMW, Mercedes Electric Car Sales Growth Oct 2024
BMW India had a total of 140 units sold last month. This was a 48.94% YoY growth from just 94 units sold in the same month last year. MoM sales were up 32.08% over 106 units sold in Sept 2024. Mercedes Benz too showed off strong performance across its electric car segment with 146 units sold in Oct 2024. This was a 265% and 80.25% YoY and MoM growth from 40 units and 81 units sold in Oct 2023 and Sept 2024 respectively.
Electric car sales of Kia India dipped by 32.69% YoY to 35 units. There had been 52 units sold in Oct 2023. MoM sales however surged significantly by 105.88% over 17 units sold in Sept 2024. Hyundai also suffered a YoY decline in electric car sales. Sales of the Hyundai electric cars dipped to 33 units last month which related to an 83.25% YoY decline from 197 unit sales of Oct 2023. MoM sales ended more positively with a 26.92% growth from 26 units sold in Sept 2024.
Volvo had 15 units of its XC40 and C40 sold last month. This was a 72.22% YoY decline from 54 units sold in Oct 2023 while its MoM performance remained flat. Audi despite a strong electric car lineup, suffered an 80% YoY and 63.64% MoM decline in sales to just 4 units in Oct 2024. There were others in this segment that added 30 units to total sales relating to a 6.25% YoY decline but a 76.47% MoM growth.
Source: Electric - rushlane.com
