India's electric vehicle (EV) market experienced a substantial surge in June, with leading automakers Tata Motors Passenger Vehicles and Mahindra & Mahindra (M&M) reporting more than double their sales figures compared to the previous year.
Tata Motors Dominates EV Market with 125% Growth
Tata Motors' EV sales skyrocketed by 125% year-on-year, reaching 12,023 units in June. This is a significant jump from the 5,355 electric cars sold in the same month last year, according to VAHAN registration data. The Mumbai-based automaker maintains the widest EV portfolio in India, offering seven models including the Tiago EV, Punch EV, Tigor EV, Nexon EV, Curvv EV, Harrier EV, and the newly launched Sierra EV.
Shailesh Chandra, managing director and CEO of Tata Motors Passenger Vehicles, noted a dramatic increase in bookings. He stated, "The West Asia situation has catalysed an inflection point for electric mobility." Chandra added that EV adoption is now expanding beyond early adopters, with mainstream customers driving a threefold jump in bookings compared to a year ago.
Mahindra & Mahindra Accelerates Electric SUV Sales
Mahindra & Mahindra also posted impressive growth, with its electric sport utility vehicle (SUV) sales accelerating by 135% year-on-year to 7,645 units in June. This strong performance helped M&M widen its lead over JSW MG Motor India, which ranks as the country's third-largest electric carmaker by volume.
Other Key Players in India's EV Landscape
While Tata Motors and M&M led the charge, other manufacturers also contributed to the market's expansion:
- JSW MG Motor India: Sales increased by 23% year-over-year to 5,785 units in June.
- Maruti Suzuki India Ltd: Secured the fourth spot with 1,896 EV registrations.
- VinFast (Vietnam): Recorded 1,394 EV registrations.
- BYD (China): Registered 860 EV units.
- BMW Group India: Surpassed South Korean players like Hyundai and Kia, selling 486 EVs.
- Kia: Sold 446 EVs.
- Hyundai: Recorded 347 EV registrations.
- Mercedes-Benz India: Logged 234 EV registrations, following the introduction of the CLA EV.
- Tesla: Despite expanding its presence, managed to sell just 35 EVs in June.
The robust growth across various segments highlights a pivotal shift in consumer preference towards electric mobility, driven by expanding portfolios and evolving market dynamics.