Tata Motors sells 17,150 EVs in April-August, 90% of entire FY2022 EV tally

Sustained demand for Nexon and Tigor EVs gives Tata Motors a strategic advantage over its passenger vehicle rivals. But the EV market is set to see new rivals, starting with the Mahindra XUV400 .

By Ajit Dalvi calendar 09 Sep 2022 Views icon29014 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Sustained demand for Nexon and Tigor EVs gives Tata Motors a strategic advantage over its passenger vehicle rivals. But the EV market is set to see new rivals, starting with the Mahindra XUV400 .

Sustained demand for Nexon and Tigor EVs gives Tata Motors a strategic advantage over its passenger vehicle rivals. But the EV market is set to see new rivals, starting with the Mahindra XUV400 .

Tata Motors’ electric drive is gathering pace and how. The market leader in the electric passenger vehicle (ePV) space has, in the first five months of the ongoing fiscal year, sold 17,150 EVs, comprising the Nexon EV and Tigor EV. This is 89.76% of the carmaker’s total EV sales of 19,106 units in FY2022 with seven months still to go for FY2023 to come to a close. And today, on World EV Day, Tata Motors has confirmed that it is to expand its electric PV portfolio with a hatchback: the Tiago EV. The Tiago EV should go on to become India's most affordable EV. 

The company has to thank the game-changing Nexon EV for this sterling market performance, albeit it can be said Tata has faced little competition. That is until now. The just-revealed all-electric Mahindra XUV400, with a 456km certified range from its 39.4kWh lithium-ion battery pack, will be the first real rival to the Nexon EV, which has had a free run of the growing ePV market in India.

The Nexon EV, which is India's best-selling ePV, is also increasing its contribution to the overall Nexon portfolio’s sales. From 286 units and 0.66% of total Nexon (ICE & EV) sales in FY2020, the Nexon EV’s share grew to 5.96% in FY2021 with 3,805 units out of 63,756 Nexon sales, and rose further to 11.18% in FY2022 with 13,879 units out of total Nexon sales of 124,130 units.

With every passing year, the share of EVs to the carmaker’s overall passenger vehicle sales (which are seeing strong growth) is increasing. This can be gleaned from the rising trend – 0.06% in FY2018, when it introduced the Tigor EV, to 1% in FY2020, 1.89% in FY2021, 5.15% in FY2022 and7.62% in the first five months of FY2023.

Tata, which is gunning for overall PV sales of 500,000 units in FY2023, is targeting EVs to comprise 10% of that – 50,000 EV sales from the 19,105 units in FY2022 translates into 161% YoY growth. The company is currently averaging monthly sales of 3,430 EVs – while this is much better than the monthly average sales of 1,592 EVs in FY2022, it will need to accelerate this sizeably to around 4,400 units a month if the 50,000-units target is to be achieved this fiscal.

Game-changing EV
Launched on January 28, 2020, the eco-friendly compact SUV has seen rapid consumer acceptance. It had crossed the 1,000 mark on August 18, seven months after rollout, the 2,000-unit mark in 10 months on December 2, 2020, and drove silently past the 4,000 mark by end-March 2021, 14 months after launch. On March 23, the Tata Nexon EV was voted the ‘Green Car of the Year’ at the 2021 Autocar Awards. FY2022 with 13,879 units was a breeze and saw 38 Nexon EVs being sold every day, taking cumulative sales to just 30 units shy of the 18,000-units mark.

Considering the other Tata e-PV – the Tigor electric sedan – with 5,227 units, accounted for 27% of total EV sales of 19,106 units in FY2022, it can be estimated that the Nexon EV has sold around 12,460 units in the April-August 2022 period. Thus, it can also be surmised that there are over 30,000 Nexon EVs on Indian roads. The Tigor EV is India’s second best-selling EV with an estimated 11,847 units sold till date since launch in FY2018.

Tata, the Maruti of the electric PV market
In a manner similar to Maruti Suzuki India, which has a commanding 50% share of the PV market, Tata Motors remains high up on the leader board when it comes to EVs.

In FY2022, four EV OEMs – Tata Motors, MG Motor India, Mahindra & Mahindra and Hyundai Motor India – together sold a total of 21,821 ePVs. Of this, Tata had an overwhelming 87.55% share, with MG the next best with 11.57%.

In the ongoing fiscal’s first five months (April-August), these four EV makers have sold a total of 19,392 units, which is just 2,429 units shy of their entire FY2022 sales of 21,821 units, and an indicator of the burgeoning demand for ePVs. Tata Motors, with 17,150 units, has taken 88.48% of these sales, with MG (1,648 units & 8.49% share), Hyundai (448 units & 2.31% share) and M&M (146 units & 0.75% share) accounting for the balance.

New competition coming up in FY2023
In the light of high petrol, diesel and also CNG prices, personal car as well as fleet buyers are gradually making the shift to electric mobility. Recognising this trend, OEMs are readying a gaggle of new products which are slated to roll out in the coming months and CY2023.

BYD India, the local arm of the Chinese EV major, which has seen considerable demand coming its way for its all-electric e6 MPV launched in November 2021. Though specific wholesales numbers are not available, it is estimated that the BYD e6 has sold a total of 153 units between April-July 2022. Now, the company is gearing up to launch its second product, the Atto 3 electric SUV on October 11, 2022. The Atto 3 will be part of the Rs 25 lakh-Rs 35 lakh EV SUV segment in India, which includes models like the MG ZS EV and the Hyundai Kona Electric. 

Moreover, it's only time that India's largest carmaker – Maruti Suzuki India – drives into the EV market with an all-electric midsize SUV, slated to launch in 2025. But what essentially is required for EV sales in India to explode, is an all-electric product in the sub-Rs 10 lakh price range that makes it affordable for a predominant section of the society as India's passenger vehicle market is still nascent at 32 vehicles per thousand people.

​EV sales in India cross 210,000 units in Q1, charge towards new record in FY2023

TVS Raider 125 crosses 700,000 sales in 29 months, is top TVS bike in FY2024

auther Autocar Pro News Desk calendar24 Feb 2024

At 398,354 units in the first 10 months of FY2024, TVS Motor Co’s first 125cc motorcycle is currently its best-selling b...

Royal Enfield Super Meteor 650 sells 14,000 units in first year since launch

auther Autocar Pro News Desk calendar22 Feb 2024

Launched on January 16, 2023, the Super Meteor 650 continues to see strong demand; along with the 650 Twins, it has give...

Scooter exports scale new high, TVS and Honda drive resurgence

auther Autocar Pro News Desk calendar19 Feb 2024

With 421,096 units shipped overseas between April 2023 and January 2024, demand for made-in-India scooters is at its hig...