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For the 1st Half of the Year, Tata Motors Record 70% of Total Sales of EV's
EV sales for the 1st half of FY2022 have already surpassed total FY2021 sales.
- EV’s accounted for about 0.45% of the total PV sales
- Nexon EV is definitely best selling EV having about 58% market share
- MG ZS EV, Tata Tigor EV hold 29%, 13% market share respectively.
- EV sales for the 1st half of FY2022 have already surpassed total FY2021 sales.
In India, electric passenger vehicle sales are less than 1% of entire passenger vehicle sales, at the moment; there is strong momentum in the market. As per the industry data for the 1st half of the ongoing fiscal year, nearing to 6,261 electric passenger vehicles was sold in the month of April to September 2021 period, thus making a 234 % year on year (YOY) growth (albeit on a low year ago total).
-EV's accounted for about 0.45% of the total PV sales
-Nexon EV is definitely best selling EV having about 58% market share
-MG ZS EV, Tata Tigor EV hold 29%, 13% market share respectively.
-EV sales for the 1st half of FY2022 have already surpassed total FY2021 sales.
Of the total 13,87,714 PVs sold in the 1st half of this fiscal (H1 FY2022), electric PVs account mere 0.45% of the total market, Significantly, the 6251 e-PVS sold in the initial 6 months have already surpassed the total EVs sold the previous year, 5905 units.
| Electric Vehicles Sales in 1st half of FY2022 | ||||
| Vehicle Model | April-Sept 2021 | April-Sept 2020 | Change | Percentage |
| (units) | (units) | (units0 | change | |
| Tata Nexon | 3618 | 1152 | 2466 | 214% |
| MG ZS EV | 1789 | 511 | 1278 | 250 |
| Tata Tigor EV 801 | 801 | 100 | 701 | 701% |
Nevertheless, given the massive tailwinds behind the EV sector in the form of central as well as numerous state EV policies, the FAME subsidy and also a new interest from the car buyers as a result of wallet burning petrol as well as diesel prices, the e-PV growth rate and their market potential cannot be ignored.
Tata Motors is ruling
Tata motors, between April and September, 2021, has sold about 4,419 units, thus it accounts for 70.57% of the total sales in the H1 FY2022. In the ongoing fiscal year, at the halfway stage, Tata has already successfully crossed about 4,219 units, it sold previous year. Nexon EV has with around 3618 units is India's one of the best selling EV and it commands nearing to 58% market share, the Tigor EV with 801 units has about 13% market share it does command third spot on the EV chart.
Hyundai Motors India unable to cash in the opportunity
Hyundai Motor India, which began the EV race in India with the Kona EV in the month of July 2019. Is perhaps, unable to cash in on the opportunity as the models manufactured by the company look very unconventional and it is costly when compared to its rivals.
