Tata, Mahindra and MG led the EV sales chart in January 2025, making it the second-best month for electric vehicles after October 2024 in FY2025. Notably, with two months left to go in FY2025, India’s electric PV sales in the first 10 months sales are already 93 percent of FY2024’s retails of 91,303 units. January remained in the spotlight due to the Auto Expo, which saw launches and price announcements of multiple EVs. The mass market segment was headlined by the Maruti Suzuki e Vitara and Hyundai Creta Electric, both of which compete in the compact e SUV space.
Tata Motors registered EV retails of 5,037 units in January, down 13 percent YoY (January 2024: 5,790 EVs). This gives Tata a monthly market share of 45 percent compared to 68 percent in January 2024.
During the first 10 months of FY2025, a total of 48,565 Tata EVs have been sold, which is a 7 percent YoY decline. This translates into a current market share of 57 percent compared to 70 percent in April 2023-January 2024. In CY2024, the company had clocked retails of 61,435 units, up 2 percent YoY and a market share of 62 percent.
Tata continues to have the largest e-PV portfolio in India (for a mass-market carmaker) comprising the Nexon EV, Tigor EV, Tiago EV, Punch EV and the Curvv EV. Its upcoming Harrier EV is slated for launch in the first half of CY2025, while the Sierra EV will arrive in the second half.
MG: 4,225 EVs, up 251 percent YoY
Current market share: 37 percent, April 2024 – January 2025: 26 percent
JSW MG Motor India, which closed CY2024 on a very strong note with retails of 21,464 EVs and a 21 percent market share, maintains its growth in FY2025. In January 2025, the OEM sold 4,225 EVs, up 251 percent on a low year-ago base of 1,203 units. This gives it a 37 percent share of January sales, a three-fold jump from the 14 percent in January 2024. For the first 10 months of FY2024, with sales of 22,418 units, up 138 percent YoY, it gets a market share of 26 percent, double its 13 percent year ago.
The MG Windsor EV, the company’s third electric vehicle after the ZS EV and Comet EV, has been the leader in terms of sales. Launched in September 2024, strong demand for the Windsor EV has hugely accelerated sales from October onwards. Furthermore, JSW MG Motor India is also benefiting from its innovative Battery-as-a-Service (BaaS) program for its EVs.
Mahindra: 686 EVs, down 13 percent YoY
Current market share: 6 percent, April 2024 – January 2025: 7 percent
Mahindra & Mahindra, the third-ranked EV OEM, sold 686 XUV400 electric SUVs in January 2025, down 13 percent YoY (January 2024: 784 units). This performance gives the company a 6 percent market share. Total 10-month retails at 5,698 units are up 19 percent YoY and give the company a 7 percent share of the e-PV market in India.
Mahindra’s EV portfolio currently comprises the XUV400, which comes with 34.5kWh and 39.4kWh battery options, with MIDC ranges of 359km and 456km, respectively. It is yet to announce the Pack Two prices of the upcoming BE 6 and XEV 9e e-SUVs, with bookings and deliveries commencing shortly.
Hyundai: 321 EVs, up 91 percent YoY
Current market share: 2.85 percent, April 2024 – January 2025: 0.92 percent
Hyundai Motor India, the second-ranked passenger vehicle manufacturer in India after Maruti Suzuki India, is ranked number 4 for January 2025. The company struggled during the first 9 months of this fiscal with its sole EV offering – the Ioniq 5. But with the launch of the Creta Electric on January 17 at the Auto Expo, the sales numbers have begun rising. The 321 units in January 2025 are Hyundai’s best monthly sales in the current fiscal, which gives it a nearly 3 percent market share, and may improve in the coming months.
The cumulative 10-month total at 783 units is down 50 percent YoY but with the new Creta EV, Hyundai should fare much better in FY2025 and CY2025.
BYD: 312 EVs, up 91 percent YoY
Current market share: 2.77 percent, April 2024 – January 2025: 3.18 percent
BYD India, which sells the all-electric Atto 3 SUV, Seal sedan and the new eMAX 7 MPV registered total sales of 312 units, up 91 percent YoY (January 2024: 163 units). October 2024, which saw 393 BYD EVs sold, was its best month ever since the Chinese OEM began e-PV sales in India.
At the Auto Expo 2025 last month, BYD took the covers off the Sealion 7 EV, its second e-SUV after the Atto 3 in India. BYD is to announce the pricing strategy for Sealion 7 on February 17, with deliveries commencing in March.
Citroen: 269 EVs, up 768 percent YoY
Current market share: 2.39 percent, April 2024 – January 2025: 2.17 percent
Citroen India recorded retail sales of 269 EVs in January 2025, up 768 percent on a very low year-ago base of just 31 units. Its cumulative 10-month sales of 1,851 units are up 5 percent YoY. This gives the company both a monthly and 10-month market share of over 2 percent.
After hitting the best-ever monthly sales of 388 units in September 2024, and following it up with 256 units in October, retail sales fell sharply to 82 units in November and 00 units in December. The company, which retails the Citroen e-C3 (the electric avatar of the C3 hatchback), has a fair number of bookings from EV fleet operators. The eC3, which has a 29.2kWh battery pack and an ARAI-claimed range of 320km, could see increased sales momentum in CY2025.
Kia: 47 EVs, up 24 percent YoY
Current market share: 0.41 percent, April 2024 – January 2025: 0.42 percent
Kia India sold 47 EVs this January, up 24 percent from January 2024’s 38 units. Till September 2024, the company had only a single EV in the market – the EV6. In October, the company launched the six-seater EV9 SUV, priced at Rs 1.3 crore. The EV9 is being brought through the CBU route and is now Kia’s flagship offering in the country, sitting above the EV6.
Luxury EV sales in January 2025
As per Vahan retail sales data, demand luxury electric cars, sedans and SUVs rose by 13 percent in January 2025 to 332 units. However, cumulative 10-month retails at 2,434 units constitute flat sales (April 2023-January 2024: 2,432 units). Further, five of the seven luxury carmakers have seen their sales decline including the market leader. For the 10-month period under review, luxury EVs accounted for 2.86 percent of the overall Indian e-PV market of 84,937 units compared to 3.28 percent in April 2023-January 2024.
BMW India, the luxury EV market leader (1,046 units, down 14 percent), has sold 176 fewer units than its year-ago 1,222 EVs. This gives BMW a current market share of 43 percent compared to 50 percent in April 2023-January 2024.
Mercedes-Benz India, which has rolled out a flurry of new models in the past year, has registered the highest YoY growth in this segment. Its 10-month sales of 883 units are up 89 percent YoY, a robust performance which has helped its market share rise to 36 percent from 19 percent a year ago.
Volvo India, the No. 3 in the luxury EV makers list, has 318 EVs to its name, down 37 percent on the 508 units a year ago. As a result, its market share stands reduced to 13 percent from 21 percent a year ago.
Audi India, with retails of 143 units in CY2024, has seen flat sales, matching its CY2023 performance (143 EVs) for a market share of 5 percent versus 5.41 percent a year ago.
Porsche, which has sold 49 EVs in the April 2024-January 2025 period, is down by a sizeable 48 percent on its year-ago retails of 94 zero-emission cars and SUVs.
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