Electric car and SUV sales soar to 79,550 units in first 11 months of FY2024

As per Vahan data as of March 3, 2024, a total of 79,443 electric cars, SUVs and MPVs (LMVs and LPVs) have been sold in the past 11 months (April 2023-February 2024). Year on year, that works out to an additional 41,165 units and strong 108% growth.

Electric PV market leader Tata Motors, which has the largest portfolio comprising the Nexon EV, Tigor EV, Tiago EV, Xpres-T (for fleet buyers) and the Punch EV, has sold an estimated 55,734 units, which helps it maintain its lead with a 70% share in a dynamic market which is seeing rivals roll out new competitive products.

MG Motor India has sold 10,328 units in the past 11 months. Its two products – the ZS EV and Comet EV – ensure it is the firm second-ranked ePV OEM with a 13% market share.

Mahindra & Mahindra, with 5,236 units, is in third position and has a 7% EV market share with its all-electric XUV400. In mid-January 2024, the company launched the new XUV400 Pro range, with prices starting from Rs 15.49 lakh, going up to Rs 17.49 lakh for the new top-spec EL Pro variant. The prices are introductory and are applicable to deliveries until May 31, 2024.