Electric Four Wheeler Sales Report August 2023
The electric four-wheeler segment has been seeing growth this year. It is on an upswing with the electrification of four-wheelers aiming to create a cleaner and greener transportation future for the country. However, the E4W sales declined quite a bit in August 2023. The segment experienced a 13% downfall over the previous month.
Tata Motors maintained its market leader position in August 2023 as well, followed by MG Motors and Mahindra and Mahindra. The top 3 positions remain the same. Meanwhile, Hyundai Motors and PCA Automobiles acquired the 4th and the 5th rank respectively.
TOP 10 ELECTRIC FOUR WHEELER COMPANIES
|Sr.N.||COMPANY NAME||JULY||AUGUST||MOM Growth||Market Share|
|5.||CITROEN (PCA AUTO)||216||110||-49%||3%|
Tata Motors sold the highest number of electric four-wheelers. It sold 4,598 units and acquired the highest market share of 81 percent in August 2023.
MG Motors sold 1,146 units delivering good results with a market share of 18 percent and maintaining its position at the second spot.
Mahindra and Mahindra delivered just 377 units and managed to maintain its third position in August as well with a market share of 6 percent.
Hyundai Motors managed to jump from the 6th spot in July and acquire the 4th position in the leader board. It sold 182 units and delivered great results with a market share of 2 percent.
PCA Automobiles slipped to the 5th position losing to Hyundai Motors. It sold 110 units and managed to acquire a market share of 3 percent.
Tata Motors Lion’s Share in the Market
Tata Motors’ continued dominance in the EV market is a testament to the company’s commitment to providing great quality and sustainable vehicles. It is making significant strides in the EV segment and has made a significant 54.9% YoY growth as well. Despite the challenges posed by market dynamics, Tata Motors continues to be a prominent player and has the lion’s share of the Indian E4W segment. The company’s main focus on affordable electric mobility continues to give them an exceptional advantage, contributing to their overall performance in the rapidly evolving electric industry.