Retail sales of electric passenger vehicles between January and May 2025 are already 60% of the record 99,600 units sold in CY2024 and bid fair to drive past the 150,000 mark for the first time in CY2025. While JSW MG Motor India has more than doubled its market share to 33%, Tata Motors’ share has slid to 39%, and Mahindra now has a 15% share. Luxury EV makers have also joined the party with over 1,800 units and 51% YoY growth.
02 Jun 2025 | 3183 Views | By Ajit Dalvi
While the overall passenger vehicle market has registered tepid sales in the first two months of the current fiscal year, the electric vehicle sub-segment is witnessing strong growth. While retail sales in April 2025 at 13,120 units marked a strong YoY growth of 69%, May 2025 sales of 12,197 units ...
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While the overall passenger vehicle market has registered tepid sales in the first two months of the current fiscal year, the electric vehicle sub-segment is witnessing strong growth. While retail sales in April 2025 at 13,120 units marked a strong YoY growth of 69%, May 2025 sales of 12,197 units are an increase of 53% year on year.
This takes India e-PV Inc’s cumulative January-May 2025 retail sales to 59,444 units, which constitutes handsome 44% growth (January-May 2024: 41,515 units). This total is already 60% of CY2024’s record sales of 99,600 units and translates into monthly average sales of 11,888 units, compared to the 8,300 units in CY2024. Given the current market scenario amid growing customer demand for new models and another seven months to go in the calendar year, manufacturers of electric cars, SUVs and MPVs should surpass both the 100,000 as well as 150,000-units mark for the first time in CY2025.
Let’s take a quick look at 14 electric PV manufacturers’ performance in the past five months and their market share standing year on year.
Market leader Tata Motors remains on top with cumulative January-May 2025 sales of 23,327 units, down 18% YoY (January-May 2024: 28,585 units). The company, which sells the Punch, Nexon, Currv, Tiago and Tigor in their electric avatars has sold 5,258 fewer EVs YoY, a performance which sees its market share slide to 39% from 69% a year ago. And it is facing the biggest challenge from JSW MG Motor India.
With the launch of the Windsor EV barely eight months ago, JSW MG Motor India has made inroads into Tata Motors’ customer share. The company, which also retails the ZS EV and Comet EV, has clocked five-month sales of 19,636 units, up by a massive 214% YoY (January-May 2024: 6,248 units). As a result, JSW MG’s EV market share has more than doubled to 33% from 15% a year ago.
Mahindra & Mahindra, which launched the two new electric origin SUVs – BE 6 ad XEV 9e – earlier this year, is ranked third with cumulative five-month sales of 9,199 units. This is a 171% YoY increase over the 3,390 XUV400s it sold in the same period last year. M&M’s market share reflects that growth, jumping to 15% from 8% a year ago. May 2025’s 3,737 e-SUVs sold is the highest-ever monthly sales the company has achieved to date on the EV front.
The launch of the Creta Electric in mid-January 2025 helped Hyundai Motor India move ahead of BYD India in the e-PV numbers game. Between January and May 2025, the Creta Electric and the Ioniq 5 together have sold 3,345 units, up 420% YoY on a low year-ago base of 643 units. While the Creta remains Hyundai’s best-selling model and is also India’s No. 1 midsize SUV, the market is yet to warm up to the Creta Electric, which was expected to see four-digit monthly numbers. Nevertheless, with the Creta Electric’s entry, Hyundai’s e-PV share has risen to 6% from 2% a year ago.
BYD India, the local arm of China’s and the world’s largest electric PV manufacturer, is beginning to gain traction in India. The company, which sells the all-electric Atto 3 SUV, Seal sedan, eMax 7 MPV and the Sealion 7 SUV, has registered five-month sales of 1,920 units, up 142% YoY, and a resultant market share increase to 2% from 1% in January-May 2024. May 2025 (493 units) is the company’s best month ever since the Chinese OEM began e-PV sales in India.
LUXURY EV MAKERS SELL 1,800 EVs IN JANUARY-MAY 2025, UP 51%
On the luxury EV market front, combined retail sales of the seven OEMs at 1,802 units are up 51% on year-ago sales of 1,194 units in January-May 2024. BMW India, the luxury EV market leader in CY2024 with 1,227 units and a 47% market share, has sold 1,018 EVs in the past five months, which marks 108% YoY growth and gives it a 56% share of the luxury e-PV market in the year to date.
Mercedes-Benz India, which has clocked retail sales of 534 units in January-May 2025, has seen its sales rise 49% YoY and gives it a 30% share of the luxury e-PV market.
Volvo Auto India’s sales at 177 units, however, are down 24% on year-ago sales of 234 units. Likewise, Audi (41 units, -38%) and Porsche (20 units, -53%) have also registered YoY sales declines.