Friday, September 30, 2022

Tata Motors grabbed 66.70% market share in electric cars’ segment in H1 FY21

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Despite the historic zero sales in April 2020 due to the Coronavirus lockdown, Tata Motors with its two electric cars, Nexon EV and Tigor EV has grabbed the lion’s share in the first six months of the current financial year (FY2020-2021). Combined the two zero-emission passenger vehicles, Tata Motors has sold 1,251 units between April and September 2020. Overall, Tata Motors recorded 66.70% market share with two of its models.

The Indian EV market registered 1,874 units of electric passenger cars between April-September 2020.

Among the electric cars available in the Indian market, The Tata Nexon EV continues its dominance as the bestselling model in this fiscal. The electric SUV 1,151 units in the first six months of the ongoing financial year, grabbing 61.40% market share. On the other hand, Tata Tigor EV has grabbed a 5.30% market share with 100 units sold between April-September 2020.

MG Motor India’s e-ZS electric SUV is the second in the list with 514 units sold in the last six months. The electric SUV has grabbed 27.40% market share outselling its direct competitor Hyundai Kona EV, which registered 100 units during the same period, grabbing 5.30% market share.

Electric cars sold between April-September 2020

ModelApril 2020May 2020June 2020July 2020August 2020September 2020FY2020-2021 (YTD)FY21 market share (YTD)
Tata Nexon EV0781882862963031,15161.40%
MG e-ZS0381458511912751427.40%
Tata Tigor EV0253724951005.30%
Hyundai Kona EV04162526291005.30%
Mahindra e-Verito00160290.50%
01453874264504661,874

Tata Nexon EV and Hyundai Kona EV were only two passenger electric cars in the country market that recorded sequential growth in the last six months.

The SAIC-owned British carmaker is now targeting to expand its network in 10 new cities, which are Agra, Aurangabad, Coimbatore, Dehradun, Indore, Kolkata, Ludhiana, Lucknow, Nagpur and Vizag.

Mahindra & Mahindra (M&M), which had a first-mover advantage in the Indian EV space, appears to be losing out the ground to its competitors. The company that introduced e2o, e2o Plus and e-Verito and now working on an electric version KUV100, now sells only e-Verito in the passenger EV segment. M&M has sold only 9 units of passenger electric cars in the last six months, registering a 0.50% market share.

Also Read: Auto sales zoom into fast lane in September, CV sales in red: All you need to know

Team AFT
Team AFThttps://autofintechs.com
The jack of all trades behind the Autofintechs.com

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