- CarGraze
- Dec 02, 2024
- Car News
November EV Sales Report: Top 10 Electric Vehicle Companies in India
The Indian EV market is growing rapidly, and November’s sales figures are finally here! Let’s explore the Top 10 EV companies based on their sales performance. We’ll analyze their market share, month-on-month (MoM) growth and other key trends shaping the electric vehicle industry.
Whether you’re an EV enthusiast or a prospective buyer, this comprehensive report has all the insights you need.
November EV Market Overview
November’s total EV sales reached 8,592 units, showcasing a 76% year-on-year growth. However, post-festive season slowdowns resulted in a 26% MoM decline compared to October.
Let’s dive into the top 10 players and their performance.
Top 10 EV Companies Breakdown
| Rank | Company | Units Sold (Nov) | Units Sold (Oct) | MoM Growth (%) | Market Share (%) |
| 1 | Tata Motors | 4,196 | 6,449 | -34% | 48% |
| 2 | Hyundai | 20 | 36 | -42 | 0.2% |
| 3 | MG Motors | 3,126 | 2,712 | 15% | 36% |
| 4 | BMW India | 326 | 370 | -13% | 3.7% |
| 5 | Mercedes Luxury | (Segment Combined) | - | - | - |
| 6 | Mercedes-Benz | 994 | 56 | >1000% | 1.0% |
| 7 | Citroen India | 82 | 255 | -67% | 0.9% |
| 8 | Kia | 67 | 45 | 48% | 0.7% |
| 9 | Volvo India | 32 | 19 | 68% | 0.3% |
| 10 | BYD India | 20 | 35 | -42% | 0.2% |
Key Insights from November
- BYD India saw a sharp decline of 42% in sales, dropping from 8th to 10th place.
- Volvo emerged as a surprise performer, with 68% MoM growth, securing 9th position.
- MG Motors continues to rise, achieving a 15% growth and increasing its market share to 36%, up from 25%.
- Tata Motors retained its dominance with a 48% market share, despite a 34% MoM dip in sales.
- Mercedes-Benz experienced a remarkable performance with a dramatic rise in units sold.
What Does This Mean for Buyers?
- More Choices: As competition grows, consumers can expect better features and affordability.
- Luxury EV Surge: High-end EVs like those from Mercedes and BMW are becoming popular, signalling a change in market dynamics.
- Tata Motors Leadership: With nearly half of the market share, Tata Motors sets benchmarks for affordability and reliability in the Indian EV market.
Stay updated with the latest EV trends and sales reports. Bookmark OUR WEBSITE for next month’s breakdown and analysis!
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