In an era where sustainability takes the driver’s seat, the automotive landscape is experiencing a significant shift toward eco-conscious choices. Electric vehicles (EVs) are the frontrunners of this green revolution, and 2023 has proved to be their standout moment. The global automotive industry is steering decidedly toward cleaner options, and 2023 stands as a testament to the widespread embrace of electric cars. The surge in electric cars is undeniable, highlighted by the remarkable leap in sales figures. In 2023, an impressive 81,903 electric vehicles found new owners, soaring past the 2022 sales of 38,209.
Let’s take a look at the performance of the prominent electric car players in 2023, their year-on-year growth, market share in 2023, etc.
Table of Contents
1] TATA MOTORS
Securing the top position in 2023, Tata Motors emerged as the leader in electric car sales with a remarkable total of 59,670 units, a substantial surge from their 2022 sales of 31,972. The company’s standout performance is underscored by an impressive year-on-year growth rate of 87%, the highest among its counterparts. Tata Motors also commands a significant market share, boasting 73%, affirming its dominance and widespread acceptance in the evolving electric vehicle market.
Read More: Tata Unveils A Revolutionary Pure EV Architecture Acti.ev for Upcoming Models
2] MG MOTOR
MG Motors claimed the second spot with 9,433 units sold, reflecting a moderate upturn from the 3,429 units sold in 2022. With, 175% year-on-year growth, MG Motors demonstrates a noteworthy expansion in the electric vehicle market. With a 12% market share, MG Motors solidifies its standing among industry players, though the sales figures suggest a measured progress in the competitive landscape.
3] MAHINDRA AND MAHINDRA
Claiming its third position in the 2023 electric car market, Mahindra and Mahindra recorded total sales of 4,201 units, showcasing a significant surge from the previous year’s sales of 280 vehicles. The year-on-year growth is particularly notable, soaring impressively by 1400%. Despite this commendable performance, Mahindra and Mahindra’s market share stands at 5%, reflecting a comparatively smaller presence in the electric vehicle landscape.
4] BYD INDIA
In the electric car rankings for 2023, BYD India secured the fourth position with total sales of 1,998 units, marking a substantial increase from the previous year’s sales of a mere 453 units. Impressively, their year-on-year growth reached a remarkable 341%, underscoring a robust advancement in the electric vehicle market. However, the market share for BYD India stands at 2%, indicating a modest footprint within the competitive landscape.
5] PCA AUTOMOBILES (Citroen)
Stellantis Group’s Indian entity, PCA Automobiles, an affiliate of Citroën, stands out in the electric vehicle market with impressive sales figures in 2023. Having sold 1,938 units, the company made a remarkable leap from no vehicles sold in 2022. This surge is indicative of a substantial and commendable entry into the market. Despite the positive momentum, PCA Automobiles, holds a 2% market share, suggesting a relatively modest but promising presence in the competitive landscape.
6] HYUNDAI MOTOR
Taking the sixth spot on the list, Hyundai Motors reported sales of 1,596 units in 2023, showcasing a notable uptick from their 2022 sales of 619 units. Their year-on-year growth stands at 158%, reflecting a positive trajectory in the electric vehicle market. However, Hyundai Motors holds a market share of only 2%, indicating a relatively modest presence in comparison to other players in the field.
