The EV industry has grown by a whopping 234% on a year-on-year basis for the time frame of April to September 2021 compared to the same period in 2020. Ever-increasing price of fuel, preference for zero emission vehicles coupled with subsidies and benefits offered by State and Central Governments under the FAME II initiative in India, has resulted in an increased demand for electric passenger vehicles.
Although the electric passenger vehicle segment drives less than 1 percent of total passenger vehicle sales in India but demand is growing. Even with a handful of automakers partaking in the EV industry, sales figures for the first half of FY2022 (6,261 units) have already surpassed EV sales in all of FY2021 which had stood at 5,905 units. Electric Car Sales India H1 FY 2022 Taking into account the first half of this calendar year, April - September 2021, total EV sales of these automakers stood at 6,261 units, up 234 percent over 1,872 units sold in the April to September 2020 period. This was a difference of 4,389 units.
Leaders in this segment include automakers such as Tata Motors (Nexon and Tigor EV), MG Motors (ZS EV), Hyundai (Kona) and Mahindra (Verito). Tata Motors has been dominating the EV space with its two models Nexon EV and Tigor EV. The company also has the Xpres T EV, however, this electric sedan is exclusively for fleet customers. These account for over 70 percent of electric vehicles sold during the 6 month period of 2021.
The Tata Nexon EV is leading the box office of the electric car sales in India. Nexon EV also happens to be the highest-selling electric car in the country. The number of Tata Nexon EVs sold from April to September 2021 is 3,618 units compared to a mere 1,152 units in the same time frame last year. This marks a notable 214% acceleration in sales year on year. The margin of lead is simply inspiring.
MG ZS EV was at No. 2 with 1,789 units sold in the April-September 2021 period, an increase of 250 percent or 1,278 units over just 511 units sold during the same 6 month period last year. The MG ZS EV commands a 29 percent share.
The Tata Tigo EV realized 701% rise in sales over the last year. In 2020, Tata sold just 100 units of the Tigor EV, whereas, in 2021, this number is 801 units.
Even as Hyundai Cars India was the prototype in this segment with its Kona electric launched ahead of all others, sales have not been encouraging. Hyundai Kona sales have dipped 50 percent from 101 units sold in April-September 2020 to 51 units in the same period of this year.
At the bottom of the list of electric passenger vehicles was the Mahindra Verito with just 2 units sold in the April to September 2021 period, down from 8 units sold in the same period of 2020 relating to a 75 percent de-growth.