Nearly 91,000 Electric Cars Were Sold In India In FY2024, Up 91% YoY

Between April 2023 and March 2024, the EV industry collectively sold 90,996 electric cars in the country, a 91.37 per cent growth compared to 47,551 electric vehicles in FY2023.

By Seshan Vijayraghvan

1 mins read

Published on April 9, 2024

Highlights

According to FADA, India's total electric car sales un FY2024 was 90,996 units
Tata Motors lead the charger accounting for 58 per cent of total EPV sales
BMW India was the top-selling brand among luxury EV makers

Nearly 91,000 electric passenger vehicles were sold in India during the Financial Year 2023-24. According to the data released by the Federation of Automobile Dealers Associations (FADA) of India, between April 2023 and March 2024, the EV industry collectively sold 90,996 electric cars in the country, witnessing a 91.37 per cent growth compared to 47,551 electric vehicles sold during the same period in FY2023.

Tata cumulatively sold more passenger EVs in FY2024 than all other mass market and luxury brands combined

Home-grown automaker, Tata Motors led electric passenger vehicle sales in India by a huge margin. In fact, Tata cumulatively sold more passenger EVs in FY2024 than all other mass market and luxury brands combined.

Also Read: Electric Two-Wheeler Sales See 30 Per Cent Growth In FY2024

Between April 2023 and March 2024, Tata sold 64,217 electric passenger vehicles. MG Motor India took the second spot with 11,611 units, followed by Mahindra & Mahindra which sold 6,071 electric passenger vehicles. Among luxury brands, it was BMW India that took the top spot with 1,420 EVs, followed by Volvo Cars India (596 units), Mercedes-Benz India (562 units), Audi India (164 units) and Porsche (133 units).

Tata Motors, MG Motor India and Mahindra are leading the EV segment right now

In March 2024 alone, electric passenger vehicle sales stood at 9,503 units, a 7.5 per cent growth compared to 8,840 electric vehicles sold during the same period. At the same time, compared to 7,231 electric vehicles sold in February 2024, electric car sales saw a month-on-month growth of over 31 per cent.

During the month of March 2024, Tata Motors sold 7,005 electric vehicles, followed by MG India at 1,131 units and Mahindra at 661 units. BMW India again took the top spot among luxury brands with 71 electric cars. It was followed by Mercedes-Benz at 51 units, Volvo at 44 units and Porsche at 29 units.