FADA reveals a total of 6,894 all-electric cars and SUVs were sold by leading automakers such as Tata, MG, Mahindra, Hyundai, Kia, BYD, BMW, Mercedes and others
Electric passenger vehicle sales in India are slowing, according to the latest data revealed by FADA for June 2024. Retail sales of these electric powered passenger vehicles dipped 13.51% on a YoY basis to 6,894 units in June 2024, down from 7,971 units sold in the same month last year. MoM sales also dived 9.74% over 7,638 units sold in May 2024. It was also declining sales as compared to 7,415 units sold in April 2024 showing off an ebb in demand over the past 3 months.
Electric Car Retail Sales June 2024
Tata Motors, with the highest lineup of electric passenger vehicles topped this list with 4,346 unit sales last month, commanding a 58.6% share in this list. This was even as the company has reported a 20.77% YoY and 14.50% MoM de-growth in retail sales of electric passenger vehicles as against 5,485 units sold in June 2023 and 5,083 units sold in May 2024. Tata Motors currently sells the Tiago, Tigor, Punch and Nexon in this segment while the company is in the process to expand their EV lineup to include the Curvv EVHarrier EV, Sierra EV and others.
MG Motor, at No. 2 saw a 21.12% YoY growth in sales to 1,405 units, up from 1,160 units sold in June 2023. The company however, saw a 2.50% MoM de-growth from 1,441 units sold in May 2024. MG Motor has the Comet and ZS EV in its electric PV segment priced from Rs 6.99-25.2 lakh (ex-showroom). MG will be launching a new crossover EV in the coming weeks.
At No. 3 was Mahindra with 446 unit retail sales last month, a 7.99% YoY growth from 413 units sold in June 2023 while sales significantly fell on a MoM basis by 20.92% over 564 units sold in May 2024. There is the XUV400 as the only model in this segment with the electric version of the XUV700 set to make its debut by the end of this year. Mahindra XUV400 EV is currently priced from Rs. 15.49 – 19.39 lakh.
Citroen reported a 26.76% YoY decline, but saw outstanding performance on a MoM basis with a 174.42% growth from 86 units sold in May 2024 to 236 units in the past month. Citroen also gained position on this list from No. 6 in May 2024 to No 4 in the past month. BYD India electric PV sales are much in demand. The company has experienced a 23.78% YoY and 40.99% MoM growth in retail sales to 229 units last month. There had been 185 units and 163 units sold in June 2023 and May 2024 respectively. Earlier this month, the company also revamped its Atto 3 lineup by adding three variants of Dynamic, Premium, and Superior as against a single variant offered earlier. The Atto 3 is now being offered at an introductory price ranging from Rs 24.99 lakh for the Dynamic variant, to Rs 33.99 lakh for the Superior trim (ex-showroom).
Hyundai electric PV retail sales suffered a setback. Sales dipped as much as 61.88% YoY and 36.46% MoM to 61 units. There were 160 units and 96 units sold in June 2023 and May 2024 respectively. Sales could be boosted with the new Hyundai Creta EV set to enter production while launch is scheduled for later this year. Kia sales also dipped 61.54% YoY and 28.57% MoM to 15 units.
BMW India Commands No. 1 Position among Luxury Brands
Coming to luxury electric vehicle retail sales, BMW India topped sales charts with 50 units sold last month. However, this was a 50% YoY and 30.56% MoM degrowth when compared to 100 units and 72 units sold in June 2023 and May 2024 respectively. The company’s electric PV portfolio currently includes i7, iX, i4, iX1, all priced between Rs 67-250 lakh (ex-showroom).
Mercedes Benz saw affirmative demand in June 2024 with a 10.81% YoY growth in electric passenger vehicles. There were 41 units sold last month, 4 units more than 37 units sold in June 2023. MoM sales however dipped by 28.07% when compared to 57 units sold in May 2024. Mercedes Benz has also expanded their EV lineup to include two new electric SUVs – EQA and EQB. These two add to the EQE and EQS launched earlier taking the company’s BEV count to 4 models.
Volvo sales fell 6.82% YoY to 41 units from 44 units sold in June 2024, the company saw a marked improvement on a MoM basis by 17.14% over 35 unit sales in May 2024. Audi AG has seen outstanding demand for its electric passenger vehicle lineup that grew by 114.29% YoY and 150% on a MoM basis to 15 units in June 2024. There had been 7 units and 6 units sold the corresponding month of 2023 and in May 2024 respectively. There were others in this segment that added 9 units to total retail sales last month projecting an 80% YoY growth but a 35.71% MoM decline.
