YoY electric car sales improve manifold in February 2022 bolstered largely by Tata Motors
Electric car sales in India are yet to become the phenomenon that E2W’s are proving to be. As expected, sales volume is way lower than that of electric two wheelers dominated by scooters. But it’s a bit of a drag considering not many existing manufacturers are offering affordable electric cars.
Clearly the industry isn’t going to be rescued by new car manufacturers and known names are yet to play their ace game. There is however the approach by Tata Motors that bucks the trend. It also singlehandedly contributes to almost all sales. Tata Motors has over 96% market share in the electric car segment of India.
Electric Car Sales Feb 2022 – Tata Leads
For February 2022, electric car retail sales are reported at 2,264 units. In a YoY comparison, this stands markedly improved from 434 units. In January, sales were reported at 1,360 units ensuring a 3 digit MoM growth.
Tata Motors electric car sales stood at 2,264 units in Feb 2022 – growing by 421% over Feb 2021 (YoY) and by 66% (MoM). Tata offers Nexon EV and Tigor EV in this space, which are entry level electric cars priced in the Rs 10-20 lakh range.
MG Motor ZS EV sales are reported at 38 units. YoY sales fell by more than two-thirds, down from 127 units. In January 2021, sales were reported at 59 units. MoM decline is reported at over a third.
Mahindra and Hyundai
In India, Mahindra has been in the electric space for longer than most. However, that’s not reflected in its monthly sales. Last month sales were reported at 12 units. A year earlier, this number stood at 10 units. In January 2022, 31 units were reported sold.
BYD India reports 10 units sold in January, and February 2022, each. BYD offers the e6 electric car in India. Hyundai India sold 6 electric cars last month. Hyundai Kona is the brand’s solo electric offering in India
Luxury Electric Cars
Audi India registered 7 units in sales last month. They offer the etron electric car in India. Jaguar Land Rover reported 6 units of I-Pace. In January 10 units were sold. Mercedes Benz AG reported 4 units sold in Feb’22, and 2 units sold in Jan ’22. They have the EQC on offer in India.
Porsche sold 4 units of Taycan in February, and 2 units in January. Olectra Greentech sold 2 units in January, and none in February 2022. In all, electric car sales in February 2022 rose to 2,352 units, up from 593 units YoY. In January 2022, total electric car sales were reported at just below 1.5k units.
Indian electric vehicle market
It’s no surprise that luxury car manufacturers have been at the fore when it comes to introducing electric cars to their product line-up here. With global demand for electric cars being much higher, it’s only a matter of time and product strategy for global names to introduce their electric line-up here.
With most manufacturers here not disclosing a clear business plan where electric vehicles are concerned, one can only wait and watch. Currently at its infancy, growth projections until the end of the decade look positive. With great changes expected within 5 years, market share of electric cars is expected to be at just over 10 percent.