[ferrarirules]

Overall Electric Car Sales Trend



Sales Trend for Mass Market



Sales Trend for Premium Market



MOM Change

Observations:
1. The year started on the right note for EVs. Second time in last one year EV sales have crossed the 10k cars per month mark. All thanks to Tata and MG.
2. Tata - Volumes have stabilized in the 4000-5000 range. They really need the overall market to expand to gather momentum now.
2. MG - 4th consecutive MOM increase. It goes on to show how price sensitive Indian market is.
3. Hyundai has sold 321 cars in the month some people did get hands on the all new Creta electric
4. Huge discount on XUV400 is pulling sales and Mahindra is gearing up for the next chapter in their EV journey.
5. BYD has steadied themselves at 300-350 odd cars a month. They are happy selling cells, battery packs to Indian companies
6. Out of the three German brands, BMW is just killing it.

Source - Vahan Dashboard

[navinmra]

I test drove the MG Windsor a few weeks back. As an owner of a Nexon EV Max, I can quickly tell how the Windsor hits the ball out of the park with oodles of backseat space from that XL size wheelbase at a price point that makes the competition (read TaMo) look silly. The Windsor’s NVH levels are apalling for an EV. Add poor ride quality and low range to it but that hasn’t dampened enthusiasm for the car, which now commands a 3 month waiting period!

That said, the Nexon EV Max mechanicals are more sorted. I test drove the Punch EV today, and while it’s great as a city car with very well sorted mechanicals and handling, I just can’t see how someone who wants to switch to an EV will not consider the Windsor over it.

My guess is that the next set of born electric EVs with much longer wheelbase than what the same category ICE cars typically have, will showcase space as the next big differentiator over ICE cars after running costs.

[sri_tesla]

Originally Posted by ferrarirules

[left]Observations:
2. Tata - Volumes have stabilized in the 4000-5000 range. They really need the overall market to expand to gather momentum now.

These numbers prove that market expansion will not really benefit the market leader. Average monthly sales for Oct-Jan are now more than 10.2K units compared to a year ago (7.8K). Price escalations, poor reliability, slow charging speeds, etc.. really hurt the Tata EV market share and mindshare. They are not only losing market share in the expanding market but also losing in absolute volume YoY. While Vahan numbers show a 13% decline in latest month, the dispatch numbers are down 25% as per official information. This is despite more models (Currv EV) and price reductions compared to a year ago.

2. MG - 4th consecutive MOM increase. It goes on to show how price sensitive Indian market is.

Windsor's success also shows how important it is to have a decent EV option at a decent price. Windsor not only changed MG's fortunes but also proved that the EV market is lagging due to overpriced products but not due to lack of infra, as the media claims.

There are so many incentives for EVs from Central and state governments. 5% GST, road tax waivers, PLI schemes should easily enable companies to price their EVs same as ICE vehicles. Tata themselves announced that they will get around $800 - $900 million from PLI schemes for EVs. This covers the entire amount they invested so far in EV development.

[navinmra]

I think we all can agree that the EV market in India has evolved very fast, be it battery technology, capacity, number of automakers offering products and charging infra, both in terms of number of chargers and charging speeds. All this in just 5 years since the first Nexon EV was launched during the pandemic!

The next 5 years will be all about democratising the technology for the masses. Take automatics for example. They’ve been around worldwide for decades. But AMT is what took automatics mainstream in India. In a similar vein, born electric architectures with its inherent advantages is what will do the trick for the mass market segment. The Windsor has just shown the way

[sunikkat]

BMW numbers are quite good for the segment it is operating. Is this including new IX1? Or will we see its numbers only in Feb.

BYD numbers is nothing great compared to the portfolio it has. MG is doing great and Mahindra might see a steep increase in coming months.