Electric Car Sales March 2024 – Tata, MG, Mahindra, Citroen, Hyundai, BYD, Kia

Thanks to the Government of India’s favourable policies regarding promotion of electric vehicles (EVs), sales in this segment are increasing by leaps and bounds. There are several cars currently on sale in this segment and there were nearly 91,000 electric cars sold in India during the period FY 2024 (April 2023 and March 2024). In March 2024, electric vehicle sales grew 7.50% YoY and 31042% MoM to 9,503 units. There had been 8,840 units sold in March 2023 and 7,231 units sold in February 2024 thus showing the growing demand that this segment has experienced.

Tata Motors, with an EV lineup that includes the Tiago, Tigor, Punch and Nexon has seen sales of 7,005 units in March 2024 to command a 73.71 percent market share. Though this was a 4.21 percent YoY decline from 7,313 units sold in March 2023, sales improved dramatically by 41.77% on a MoM basis from 4,941 units sold in February 2024. Apart from a healthier lineup, Tata Motors’ EV are also more affordable priced between Rs 7.99 – 19.29 lakh. (ex.sh). There is now the Tata Curvv EV that is currently being tested ahead of launch sometime in the 2nd quarter of financial year 2024-2025.

MG Motor has the Comet and ZS in its electric segment and has seen sales of 1,131 units last month. This was a 118.76% YoY growth while MoM sales also showed off strong growth by 7.41%. The Comet and ZS are priced from 6.99-25.08 lakh. MG has also started testing the Cloud EV which will be its 3rd electric car when launched in India later this year or by early 2025.

Mahindra XUV400, the sole electric model in the company lineup has seen sales of 616 units last month, up 155.21% from 259 units sold in March 2023. MoM sales also grew by 6.27% from 622 units sold in February 2024. Mahindra will be expanding its EV lineup to include the XUV.e8, XUV.e9 and BE.05, each of which have been seen while on speed tests at the company’s track in Chennai. In the Citroen electric lineup is the eC3 priced from Rs 11.61-13.35 lakh. Sales dipped to 178 units in the past month from 209 units sold in March 2023 while it was outstanding growth of 125.32% when compared to just 79 units sold in February 2024.

Among the higher priced electric cars in the