[pqr]

FY 2021-22 Indian EV market analysis



Market

• EV car sales reached 0.7% of total car sales in FY 2021-22
• Tata and MG together command 98% of the Indian EV market
• Tata Nexon EV was the best-selling EV in the country with a 63% market share
• Tata Tigor EV with all-new heart transplant (battery and motor) captured 24% market share
• CKD MG ZS EV is the third best-selling EV with an 11% market share
• Luxury EV accounts for 0.9% of the total EV market
• SUV command 76% market share and rest 24% are sedans

Manufacturer

• Tata commands 87% of the total EV market, followed by MG’s 11% share
• Hyundai and Mahindra with one product each remained fringe players
• Audi leads the luxury EV market in terms of offerings with a luxury EV market share of 48%

Production type

• 87% of cars were produced by Tata Motors and Mahindra locally with imported Chinese cell
• 12% of cars came through the CKD route
• Rest 1% came as CBU import by the luxury car manufacturers
• Effectively it remains unfavorable in terms of foreign trade till India starts making EV cells under the PLI scheme
• Still there will be huge dependence on imported minerals or processed input material

GST support by the Government

• Since 2019 GST council has reduced the GST incidence on EVs to 5%, irrespective of vehicle length
• This has bridged the higher price gap between ICE and BEV vehicles in India
• GST support in the FY 2021-22 is estimated to be ₹ 891 crores
• Imported luxury cars account for 9.4% of the GST support

Data source: SIAM library and https://www.team-bhp.com/forum/india...2021-22-a.html (Luxury car sales analysis in India | FY 2021-22)

[shobhit.shri]

Tata should also consider relaunching Indica/Indigo EV to take on the taxi market. They are on a roll, and I feel taxis would love to have the cost-effectiveness of an EV.

[ninjatalli]

Excellent start to reports/analytics on EV market of India. Looking forward to more such reports/details from all in the future.


The language in the below sections need to be corrected - similar to the first bullet point, the % figures quoted covers only EV sales in 2021-22 and not the total EV market. The relevant bullet points (e.g. the ones in bold) or the heading need to be corrected accordingly.

If we look at total Indian EV market, I'm sure Mahindra (with it's huge head start with it's eVerito product) would have a more larger share; and so will others too.

Originally Posted by pqr

Market

• EV car sales reached 0.7% of total car sales in FY 2021-22
• Tata and MG together command 98% of the Indian EV market
• Tata Nexon EV was the best-selling EV in the country with a 63% market share
• Tata Tigor EV with all-new heart transplant (battery and motor) captured 24% market share
• CKD MG ZS EV is the third best-selling EV with an 11% market share
• Luxury EV accounts for 0.9% of the total EV market
• SUV command 76% market share and rest 24% are sedans

Manufacturer

• Tata commands 87% of the total EV market, followed by MG’s 11% share
• Hyundai and Mahindra with one product each remained fringe players
• Audi leads the luxury EV market in terms of offerings with a luxury EV market share of 48%

[drift87]

Also note that out of the total volume of EVs in the India market, three wheeler constitute around 65% and 25% is held by the two wheeler category. The remaining 5% is a mix of everything else including cars, this segment is just waiting to explode.

[abhkop]

Originally Posted by shobhit.shri

Tata should also consider relaunching Indica/Indigo EV to take on the taxi market. They are on a roll, and I feel taxis would love to have the cost-effectiveness of an EV.

Xpress-T EV is targeted at taxi segment. Tata has grown leaps and bounds since moving away from Indica/Indigo. Not feasible to go back to those models both brand wise and product wise.

[rd18]

Tata certainly in an advantageous position since "the early bird catches the worm".

credit to them for changing the mindset of people that EV can run powerful cars like Nexon. It was their best calling car and a SUV which attracted customers.

Previous EV launches like bikes and cars was very basic. Never a full fledged heavy SUV was seen running on EV.

With Nexon EV Max, and Tigor EV, they keep their range as #NewForvever.
So many have upgraded their Nexon EV to Nexon EV Max after launch.

And I didn't know all abbreviations, so this what they mean:

• CBU - Completely Built Unit (high custom duty on import)
• CKD - Completely Knocked Down (lower custom duty on import, assembled locally).

Source - https://gomechanic.in/blog/cbu-skd-ckd/

[splitinfinitive]

Originally Posted by drift87

...this segment is just waiting to explode.

I'd personally not use the "waiting to explode" phrase in conjunction with electric cars .

(gentle joke, no offence intended)

[RGK]

Tata has the benefit of being able to manufacture all components, including mechanics, electrical, and plastics. They are in a better position than all of their opponents in every way.

Tata has the advantage of being one among the first to market in this field, and we hope they continue to improve and innovate on a regular basis.

[VikramCS]

Nice read. Tata Nexon seems very successful, not many challengers currently. There was news floating around about Altroz EV launch as well, which, if launched at an attractive price can be a runaway success given the popularity of ICE Altroz.

During my recent outstation trip, i was surprised to see a large hotel offering dedicated charging point in their car-parking. Other owners (including me), ventured around the car (Nexon EV), charging point and were waiting for the car-owner for a quick chat. Car owner was probably busy with his delicious thali, could not meet

Seems EVs are slowly gaining popularity and Tatas have a great start.

[Mafia]

The need of the hour is a electric hatchback at less than 10L.

Looking the range of most EVs, they are mostly city use.

Tata tigor will make a good base for an EV

It is something for Tata to hold the lions share of the market

[vigneshnr]

Tata has turned out to be a forerunner in indian EV space. I sincerely think that Tata's Nano can make a strong comeback.

As a concept it was relevant then and even more now.. considering the price band shifts in car segments.

Tata Nano EV at 3.5 lacs to 5 lacs would be great for city commute and short runs.

Some news articles were pointing to it as well.

https://www.bestelectriccars.co.in/t...-electric-car/

[am1m]

Originally Posted by pqr

Tata Nexon EV was the best-selling EV in the country with a 63% market share

That passes the smell test- I've certainly seen more Nexon EVs on the road than any other electric car- probably seen more Nexon EVs than even Athers on the roads!

[sunilsreenivasg]

Originally Posted by vigneshnr

Tata Nano EV at 3.5 lacs to 5 lacs would be great for city commute and short runs.

Just that, they shouldn't market it as cheap electric car. We don't want our ride to be explicitly told that it is cheap, even though it is! That's where, they burned their hands earlier.

Such a gem! Market just killed it

[satishchugh]

Originally Posted by Mafia

The need of the hour is a electric hatchback at less than 10L.

and I fail to understand why this is not happening. Though people can debate it, I think first successful electric car in India was Reva and it proved the use case. A small car like Wagon R, Celerio, i10, Tiago even with 200 KM range but in <10 Lakh solves the city use case. When an automatic ICE small car costs in 6.5-7.5 Lakh range, people will be ready to pay 2.5 Lakh premium for brining the running cost to 1/10th.

Tata Tigor EV @12.5 Lakh with 300 KM range, shows that a smaller car (say Tiago) with 200 KM range can be built with <10 lakh sticker price.

I wish it happens in next 1 year and I hope Maruti does it with their Wagon R - it can increase electric car volumes by 10x. And that will help spread the charging infrastructure, opening the market even further. I wish...

[SoumenD]

Originally Posted by Mafia

The need of the hour is a electric hatchback at less than 10L.

And for TATA, they don't even need to reinvent the wheel(extensive R&D) for this. They are already selling the Tigor now in EV format. They can maybe detune the engine a bit and use it for the lighter Tiago with a sub 10L sticker price. Looking at the rate TATA EVs are selling, this might as well give them the advantage of scale.

I see so many Nexon EVs on road now on a daily basis. Can literally count more nexon EVs than Ola/Ather scooters in Bangalore let alone iQube/chetak.