Tata Motors and Hyundai India are competing for the number two slot in the domestic market. The Indian automaker surpassed the Korean auto giant in sales twice, in December 2021 and May of this year, with the difference between the two corporations a mere 23,939 units between December 2021 to November 2022.
Hyundai’s 15-year reign as number two could be jeopardised if its lack of presence in the electric vehicle market — the key driver of Tata’s growth — persists. Hyundai now has only one EV on the market, the Kona, which has sold approximately 1,200 units since its launch in July 2019, with monthly sales averaging 50-60 units, compared to Tata Motors’ monthly sales of 3,400 electric vehicles.
Tata, on the other hand, has the Nexon EV, Tigor EV, and Nexon EV Max, which account for 7.8% of total sales and have showed a 30% growth in sales since December 2021.
Tata appears to be in a stronger position in the EV industry in the coming year as well, with two launches — the Altroz EV and the Punch EV — according to reports. Hyundai India will expand its EV portfolio with the Ioniq 5 electric car, for which reservations will open on December 20 and will go on sale shortly after its debut at the Auto Expo in January 2023.
However, Tata Motors will continue to be the undisputed leader in electric vehicles. Chandra added that celebrating the 50,000th electric car in India is a strong testament to how the carmaker’s portfolio is resonating with people across the country. “Electric cars are offering a practical solution to problems of rising fuel price and worsening pollution. Customers are now ready to welcome electric cars and we are thrilled to witness the transition from early adopters to electric cars becoming a mainstream choice for Indian customers,” he said. It produced its 50,000th electric vehicle from its Pune plant last month. With 80 new towns added to its electric car network in the last six months, the company anticipates that sales of electric vehicles will only increase.
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