According to FADA, while overall car retail sales grew in July 2024, electric car sales declined by 2.92% YoY to 7,541 units. However, EV sales improved by 9.38% MoM from June 2024 levels.
Tata Motors continues to dominate the EV market with more than 60% market share, introducing new products like the Curvv EV. In July 2024, Tata sold 4,775 electric vehicles, maintaining its position as the market leader.
MG Motor, with the Comet and ZS EV in its portfolio, sold 1,522 units in July 2024, securing the second spot in the rankings. The automaker registered a 23.04% YoY growth from 1,237 units sold in July 2023.
Mahindra, a pioneer in the Indian EV space, sold 487 units of its sole offering, the XUV400, in July 2024. With these figures, Mahindra marked a 9.19% MoM growth and a 28.5% YoY growth.
Chinese automaker BYD sold 341 units of its models in July 2024, marking a remarkable 188.98% YoY improvement over 118 units sold in July 2023. The E6, Seal, and Atto3 are the current cars sold by BYD in India.
The eC3 is the only electric offering by Citroen in India, managing to sell 155 units in July 2024, which is 68 units less than in July 2023 and 81 units less than in June 2024.
German luxury carmaker BMW sold 70 units of its electric vehicles in July 2024, primarily the i4 and iX models. Although BMW saw a 40% MoM growth, its YoY difference was down by 34.58%.
Hyundai India sold 55 units of the Ioniq 5 and outgoing Kona Electric in July 2024, demonstrating its commitment to the EV segment despite a 52% decline in YoY sales and a 9.8% decline in MoM sales.
Volvo, known for its commitment to sustainability, saw a 2.44% decline in MoM sales but a 14.2% increase in YoY sales, selling 40 units of its electric vehicles in July 2024.
Mercedes-Benz’s sales fell by 18.92% YoY and 26.83% MoM to just 30 units in July 2024. The Mercedes EV lineup recently saw the addition of two new electric SUVs – the EQA and EQB, bringing the company’s BEV count to four models.
Audi saw an increase in demand for its electric vehicles. Although Audi sold just 17 units of its electric vehicles in July 2024, there was an 88.8% YoY and 13.3% MoM growth registered.