Tata Motors continued its dominance in April 2023 by selling 4,392 units of electric vehicles (EVs). This impressive figure represents a staggering 141.72% year-on-year (YoY) growth compared to the 1,817 units sold in the same month last year. However, there was a 38.46% month-on-month (MoM) decline from the 7,137 units sold in the previous month. Tata’s market share in April 2023 reached 75.2%, slightly down from the 83.31% recorded in March 2023.
In a remarkable turn of events, Mahindra experienced remarkable growth with the introduction of the XUV400, selling 505 electric vehicles last month.
This achievement translated to an astonishing YoY growth of 3784% and an impressive MoM growth of 113.04%, both of which are the highest figures on this list. MG sold 335 units of the ZS electric vehicles, and with the anticipated launch of the Comet, their sales numbers are expected to grow significantly. MG registered a YoY growth of 36.73%, although it experienced a 32.19% MoM decline. PSA Automobiles, the Indian entity of Stellantis’ PSA, sold 229 units of the Citroen eC3, showing a healthy MoM growth of 36.73% compared to the 202 units sold the previous month.
BYD sold 154 units when combining the e6 and Atto 3 models, demonstrating an impressive YoY growth of 633% compared to the 21 units sold a year ago. However, there was an MoM decline of 45.20% compared to the 281 units sold in March 2023. BMW, with its three electric vehicle models available in India (i4, iX, and i7), sold a total of 60 units, experiencing a substantial YoY growth of 252.94% and a solid MoM growth of 17.65%.
Hyundai sold 51 units of both the Ioniq 5 and Kona EV, showcasing a robust YoY growth of 121.74% and a steady MoM growth of 10.87%. Kia, currently offering the EV6, sold 34 units, witnessing a noteworthy 70% MoM growth compared to the 20 units sold the previous month.
Volvo’s XC40 Recharge sold 34 units but experienced a 26% MoM decline. Mercedes-Benz, with its four electric vehicles (EQB, EQC, EQS, and AMG EQS), sold a total of 27 units. While the brand achieved an impressive YoY growth of 145.45%, there was a slight MoM decline of 6.90%. Other brands combined sold 13 units, resulting in an 87.62% YoY decline and a 43.48% MoM decline.
Overall, the Indian market witnessed the sale of 5,834 electric vehicles in April 2023, marking a remarkable YoY growth of 159.06% compared to the 2,252 units sold in April 2022. Additionally, there was a solid MoM growth of 31.89% from the 8,566 units sold in March 2023. However, the penetration of electric vehicles in the passenger vehicle (PV) segment slightly decreased to 2.1% from the 2.6% recorded in March 2023.
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