However, December 2024 brought a slight decrease in sales, reflecting the dynamic nature of the market.
Tata Motors, the longstanding electric 4W leader, continued to dominate the market in December and maintained market leadership, followed by MG Motors and Mahindra.
Let’s look closer at the top 10 original equipment manufacturers (OEMs) in the electric four-wheeler industry for December 2024.
| Company | Nov Sales | Dec Sales | MoM Growth (%) | Market Share (%) |
| Tata Motors | 4,374 | 4,037 | -7.7 | 47.36 |
| JSW MG Motor India | 3,627 | 3,421 | -5.68 | 39.68 |
| Mahindra & Mahindra | 575 | 383 | -33.39 | 5.39 |
| BYD India | 140 | 221 | 57.86 | 2.03 |
| BMW India | 116 | 110 | -5.17 | 1.27 |
| Hyundai Motor India | 114 | 90 | -21.05 | 1.15 |
| Mercedes-Benz | 104 | 96 | -7.69 | 1.13 |
| PCA India (Citroen) | 82 | 77 | -6.1 | 0.9 |
| Kia India | 41 | 43 | 4.88 | 0.47 |
| Volvo Auto India | 32 | 47 | 46.88 | 0.44 |
Tata Motors continues to maintain its first position in the electric four-wheeler market leaderboard in December 2024 as well. The company reported a substantial decrease in retail sales, with sales figures falling to 4,037 units compared to 4,374 units in November.
This decrease resulted in a month-over-month growth rate of -7.7% and a substantial market share of 47.36%.
MG Motors failed to surpass Tata Motors this month but surely is going to catch up soon. It retained its second position on the leaderboard in December 2024.
The company sold 3,421 electric four-wheelers, a slight decrease from the 3,627 units sold in November. Its month-on-month growth stands at -5.68%, with a market share of 39.68%.
Mahindra and Mahindra continues to maintain its third spot on the leader board in December 2024.
The company sold 383 electric vehicles in November, which is a substantial decrease from the 575 units sold in November 2024.
Mahindra recorded a month-on-month growth of -33.39% and now holds a market share of 5.39%.
BYD maintained the fourth spot in the leaderboard with a sales figure of 221 units in December 2024. In a surprising turn of events, MG Motors is the only brand to have positive MoM growth this month.
The company had a slight rise from the 140 units sold in November, reflecting a 57.86% month-on-month growth. BYD India Pvt Ltd now holds a 2.03% market share.
BMW, jumped up to the fifth position in the leaderboard this month.
It reported sales of 110 units in December 2024, a reduction from the 116 units sold in November. This represents a reduction in month-on-month growth by -5.17% and its market share currently stands at 1.27%.
Tata Motors and MG Motors dominated the Indian E4W segment with a combined market share of over 86% in December 2024. BYD India and Volvo Auto India also emerged as growing players with positive MoM growth, while many others experienced a decline, with negative MoM growth.
The overall decline in MoM sales across major brands in December 2024 suggest possibility of a market slowdown or a shift in consumer preferences.
It’s interesting to compare the battery in your phone with that in an electric vehicle and to look at our…
Indian Union Commerce Minister Piyush Goyal on Friday said that India’s electric vehicle industry doesn’t need more subsidies as it…
Ather India has updated its popular 450 electric scooter range in India with a primary focus on performance and safety…
Affordability is an important factor when choosing a vehicle for daily use. While electric scooters are becoming popular for being…
The global push toward sustainable energy solutions has put electric vehicles (EVs) at the forefront of transforming the automotive sector.…
As the world shifts towards sustainable transportation, India is at the forefront of the EV transformation. With a growing population…
This website uses cookies.
