The Indian automobile sector is getting better with new and improved electric vehicles. EV Cars Sales February But, the lack of convenient charging stations at key points is holding back progress.
The Federation of Automobile Dealers Associations (FADA) says electric cars are 1.5 to 2% of the market. Electric two-wheelers are about 5 to 5.5 per cent. Buyers face issues with charging infrastructure. High initial costs and limited range are also to blame.
They’ve hurt sales in this segment. The year 2024 started well. Demand rose, and automakers launched many new electric car models in India. But, sales in February 2024 were much lower.
Retail sales of electric cars in February 2024 stood at 7,231 units. This is an increase of 51.72 per cent from 4,766 units sold in February 2023. However, the monthly sales performance declined by 11.43 per cent from 8,164 units sold in January 2024.
EV Cars Sales February 2024
Every automaker saw YoY growth with the only exceptions being BYD and Kia. But the month-on-month sales ended in losses with lower sales across all segments. In February 2024, analysts compared electric car sales to the sales in February 2023. Only PCA Automobiles (Citroen) showed the best growth.
| Rank | OEM EV Cars | EV Cars Sales | Sales Feb- 24 | Sales Jan-24 | Groth(%) |
|---|---|---|---|---|---|
| 1 | Tata | Tiago,Tigor, Punch, Nexon | 4,941 | 3,925 | 25.89% |
| 2 | MG | Comet, Zs | 1,053 | 362 | 191% |
| 3 | Mahindra | XUV400 | 622 | 7 | 8,785% |
| 4 | BYD | E6,Atto3 | 143 | 242 | -41.91% |
| 5 | BMW | iX1,i4,iX,i7 | 127 | 59 | 115% |
| 6 | Hyundai | Kona, loniq5 | 118 | 50 | 136% |
| 7 | Citroen | eC3 | 79 | 0 | – |
| 8 | Volvo | xc40,C40 | 43 | 36 | 19.44% |
| 9 | Mercedes | EQB, EQE, EQS, EQS, AMG | 42 | 33 | 27.27% |
| 10 | Kia | EV6 | 21 | 30 | 0.29% |
| 11 | Audi | e-tron, e-tron GT, RS e-tronGT, Q8 e-tron and Q8 Sportback e-tron | 20 | 9 | 0.28% |
| 12 | Others | 22 | 0 | 0.30% | |
| Total | 7,231 | 4,766 | 100% |
Tata Motors EV Cars Sales Feb 2024
Tata Motors has the largest number of electric cars in India, selling 4,941 electric cars last month. It will increase to 25.89 per cent. Sales increased from 1,925 units in February 2023.
But, monthly sales declined by 11.63 per cent from 5,591 units in January 2024. Tata Motors sells Nexon EV, Tiago EV, Punch EV and Tigor EV. The price of these is available in the market from Rs.7.99 to Rs.19.29 lakhs.
MG Motors EV Cars Sales Feb 2024
2nd place is MG Motors. The company is selling the Comet and ZS in the electric segment at Rs 6.99 to Rs 25.08 lakh. MG recently slashed the prices of the Comet EVs, making them more affordable at INR 6.99 lakh.
The company has also added new ZS EV variants. The Excite Pro sits above the base Executive trim and the Exclusive Plus trim below.
MG’s EV sales grew 190.88% year-on-year to 1,053 units. This is up from 362 units sold in February 2023. But sales declined by 9.38%. They fell from 1,162 units sold in January 2024. This is when we compare electric car sales from February 2024 to January 2024.
Mahindra EV Cars Sales Feb 2024
Mahindra’s EV retail monthly performance is impressive. Sales in February 2023 are 7 units. But, in February 2024, they increased by 8785.71 per cent to 622 units. Its monthly performance declined by 16.06 per cent from 741 units sold in January 2024.
The Mahindra XUV400 Electric segment prices range from Rs.15 to Rs.15. Lakh to Rs.19.39 Lakhs. The XUV400 recently received an update. Now they call it XUV400 Pro.
EV Cars Sales February
The company plans to launch 5 new models under the EV platform, INGLO. BYD and BMW sold more electric vehicles than Hyundai with 143 units in February 2024. But,
the company reported a decline compared to both last year and last month. 242 units were vended in February 2023 and 150 units in January 2024. China-based Build Your Dreams currently sells the Auto 3 SUV and e6 MPV in India.
They are selling from Rs.29.15 lakhs to Rs.34.49 lakhs. The automaker has launched the SEAL EV sedan in India. It can offer a range of 510-650 km depending on the car variant.
