Last month (June) was a mixed bag for the Tatas. Tata Nexon, the country's top selling four-wheeler EV by a mile, was caught in an unfortunate fire mishap leading to many embarrassed faces. This is the first time a Tata brand vehicle is caught in such an accident.
But on the other hand, electric vehicle sales from the Tata stable attained new heights with quarterly sales of 9,283 in Q1 FY23 and highest-ever monthly sales of 3,507 units in June. The company saw a massive 433% YoY growth. Nexon EV Max, which was launched in May, has witnessed strong demand.
"Going forward, we expect the supply side, including that of critical electronic components to progressively improve. We will continue to keep a close watch on the evolving demand and supply situation and take appropriate actions," Shailesh Chandra, Managing Director, Tata Passenger Electric Mobility said.
Sales in single digit, but two car brands in top-4
Tata Motors is by far the leader in the EV segment in the country having more than 70% of the market share in the electric four-wheeler category. The Nexon EV and Tigor EV are among the top four electric cars sold in India for the month of June. While Nexon's dominance is well known., Tigor EV occupied the third slot in the list of top-selling EVs in the country. But its numbers will reveal how the Indian EV market is underdeveloped.
Believe it or not, Tata Tigor EV version sold a sum total of 8 units in June, and for that it is placed at the fourth spot. This is the sad reality of the Indian EV market. Just about 7.4% of the vehicles that Tata Motors sells are EVs.
MG Motor, which is placed second, has around 27% market share. The new generation ZS EV, which was launched here recently, sold around 250 units last month. The carmaker has been able to see an increase of 145% in sales percentage. The MG ZS electric SUV 2022 is a tweaked version of its ICE counterpart, the MG Astor. First launched in 2020, the ZS EV is the company's first electric SUV in the country.
MG Motor India seems to be gung-ho on the prospects of its EVs in India, and expects 25% of its total volumes to accrue from electric vehicle sales by next year. The company is in the process of investing Rs 2,000 crore on capacity expansion and new product development in India.
Hyundai Kona electric, Hyundai Motor's only electric offering in India so far, is the 4th on the list for the top electric cars sold in India for the month of June. Its achievement: It sold seven units of the car. Hyundai is, however, betting big on Ioniq 5, which it plans to introduce in the Indian market later this year.
