These 2 Auto Companies Control 98% Sales Of Electric Cars In India: Check Top Electric-Car Players

These 2 Auto Companies Control 98% Sales Of Electric Cars In India: Check Top Electric-Car Players
These 2 Auto Companies Control 98% Sales Of Electric Cars In India: Check Top Electric-Car Players
  • Tata Motors and MG Motors command 98% of the Indian EV market. 
  • Tata commands 87% of the total EV market followed by MG’s market share which is 11%.
  • EV car sales reached a new high of 0.7% of total car sales in the financial year 2021-2022.

The Indian market

Tata Motors and MG Motors command 98% of the Indian EV market. EV car sales reached a new high of 0.7% of total car sales in the financial year 2021-2022. The Tata Nexon EV became the best-selling EV in India, its market share being a whopping 63%. The Tata Tigor EV came in second place with its new battery and motor. It captured 24% of the Indian market share. In third place we had the CKD MG ZS EV with the market share of 11%. The SUVs had a 76% market share and the remaining 24% was commanded by Sedans.

The manufacturers

Tata commands 87% of the total EV market followed by MG’s market share which is 11%. Hyundai and Mahindra have been border players in the EV market with one product each. Audi is leading the EV market when it comes to luxury EV offerings with the market share of 48%

The production types

87% of the cars were produced by Tata Motors and Mahindra locally in India, however, the batteries were imported from China. 12% of the cars were brought through the Completely Knocked Down (CKD) route. The remaining 1% came as Completely built Up (CBU) import. The Indian EVs are still not favourable when it comes foreign trade until the country starts producing EV batteries under the PLI scheme. Our country still depends on various imported minerals or processed input materials.

GST support by the Government

Since the year 2019, the GST council has lowered the GST incidence on EVs to 5% irrespective of vehicle length. This has lessened the price gap between ICE and BEV vehicles in India. In the financial year of 2021-22 is estimated to be Rs. 891 crores. Imported luxury cars account for 9.4% of the GST support. 

Data source: SIAM library and Luxury car sales analysis.

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