Tata Motors is currently leading the electric car segment by selling a total of 5,591 units in January 2024, thereby acquiring around 70% market share
The electric vehicle segment is steadily soaring in the Indian market as more players are jumping in with new products. Improvement in charging infrastructure coupled with a diversified product portfolio from different manufacturers has further helped the cause.
In line with this, let’s have a look at the electric vehicle sales in India in January 2024. A total of 8,164 electric cars were sold in the Indian market in the month of January 2024. This accounts for a MoM growth of 136.84 per cent, up from the 3,447 in December 2023.
Similarly, the EV segment registered a good 13.07 per cent YoY growth, comparing the January 2023 numbers which stood at 7,220 units. The 136.84 per cent MoM growth in electric car sales depicts the consumer mindset shifting in favour of EVs.
| Electric Car Manufacturers | Units Sold In January 2024 |
| Tata Motors | 5,591 |
| MG | 1,162 |
| Mahindra | 741 |
| Hyundai | 162 |
| BYD | 150 |
| Kia | 35 |
| Citroen | 28 |
| BMW | 146 |
| Mercedes-Benz | 57 |
| Volvo | 50 |
| Audi | 14 |
| Porsche | 8 |
Talking about the contributors to this growth, Tata Motors took the top spot by selling 5,591 electric cars in January 2024, accounting for 68.48 per cent of overall EV sales. This comes down to the company’s extensive EV portfolio and early mover advantage in the segment. Tata Motors is followed by MG Motor India which sold 1,162 units last month, accounting for 167.13 per cent MoM growth as compared to December 2023.
Mahindra & Mahindra is not too far behind with 741 units sold in January with a single product, the XUV400 EV. Hyundai and BYD sold 162 and 150 cars last month, respectively. Kia India is the only manufacturer which registered a MoM decline of 27 per cent by selling just 35 units of the EV6. Citroen’s EV sales stood at 28 units, which is the lowest for the mass-market segment in India.
Amongst the luxury car manufacturers, BMW aced the electric car sales by selling 146 units in January 2024. It is followed by Mercedes-Benz and Volvo which sold 57 and 50 electric cars, respectively. Audi India sold only 14 EVs with an extensive line-up of 5 cars. Similarly, Porsche sold 8 units of the Taycan EV registering a strong YoY downfall of around 70 per cent.