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Old 3rd February 2025, 20:34   #1
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January 2025: Electric Car Sales Figures & Analysis

Overall Electric Car Sales Trend

January 2025: Electric Car Sales Figures & Analysis-overallsalese4w.png

Sales Trend for Mass Market

January 2025: Electric Car Sales Figures & Analysis-e4wmass.png

Sales Trend for Premium Market

January 2025: Electric Car Sales Figures & Analysis-e4wpremium.png

MOM Change

Name:  E4WMoM.png
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Observations:
1. The year started on the right note for EVs. Second time in last one year EV sales have crossed the 10k cars per month mark. All thanks to Tata and MG.
2. Tata - Volumes have stabilized in the 4000-5000 range. They really need the overall market to expand to gather momentum now.
2. MG - 4th consecutive MOM increase. It goes on to show how price sensitive Indian market is.
3. Hyundai has sold 321 cars in the month some people did get hands on the all new Creta electric
4. Huge discount on XUV400 is pulling sales and Mahindra is gearing up for the next chapter in their EV journey.
5. BYD has steadied themselves at 300-350 odd cars a month. They are happy selling cells, battery packs to Indian companies
6. Out of the three German brands, BMW is just killing it.

Source - Vahan Dashboard

Last edited by ferrarirules : 3rd February 2025 at 20:37.
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Old 3rd February 2025, 22:16   #2
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Re: January 2025: Electric Car Sales Figures & Analysis

I test drove the MG Windsor a few weeks back. As an owner of a Nexon EV Max, I can quickly tell how the Windsor hits the ball out of the park with oodles of backseat space from that XL size wheelbase at a price point that makes the competition (read TaMo) look silly. The Windsor’s NVH levels are apalling for an EV. Add poor ride quality and low range to it but that hasn’t dampened enthusiasm for the car, which now commands a 3 month waiting period!

That said, the Nexon EV Max mechanicals are more sorted. I test drove the Punch EV today, and while it’s great as a city car with very well sorted mechanicals and handling, I just can’t see how someone who wants to switch to an EV will not consider the Windsor over it.

My guess is that the next set of born electric EVs with much longer wheelbase than what the same category ICE cars typically have, will showcase space as the next big differentiator over ICE cars after running costs.
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Old 4th February 2025, 07:42   #3
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Re: January 2025: Electric Car Sales Figures & Analysis

Quote:
Originally Posted by ferrarirules View Post
[left]Observations:
2. Tata - Volumes have stabilized in the 4000-5000 range. They really need the overall market to expand to gather momentum now.
These numbers prove that market expansion will not really benefit the market leader. Average monthly sales for Oct-Jan are now more than 10.2K units compared to a year ago (7.8K). Price escalations, poor reliability, slow charging speeds, etc.. really hurt the Tata EV market share and mindshare. They are not only losing market share in the expanding market but also losing in absolute volume YoY. While Vahan numbers show a 13% decline in latest month, the dispatch numbers are down 25% as per official information. This is despite more models (Currv EV) and price reductions compared to a year ago.

Quote:
2. MG - 4th consecutive MOM increase. It goes on to show how price sensitive Indian market is.
Windsor's success also shows how important it is to have a decent EV option at a decent price. Windsor not only changed MG's fortunes but also proved that the EV market is lagging due to overpriced products but not due to lack of infra, as the media claims.

There are so many incentives for EVs from Central and state governments. 5% GST, road tax waivers, PLI schemes should easily enable companies to price their EVs same as ICE vehicles. Tata themselves announced that they will get around $800 - $900 million from PLI schemes for EVs. This covers the entire amount they invested so far in EV development.
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Old 4th February 2025, 11:12   #4
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Re: January 2025: Electric Car Sales Figures & Analysis

I think we all can agree that the EV market in India has evolved very fast, be it battery technology, capacity, number of automakers offering products and charging infra, both in terms of number of chargers and charging speeds. All this in just 5 years since the first Nexon EV was launched during the pandemic!

The next 5 years will be all about democratising the technology for the masses. Take automatics for example. They’ve been around worldwide for decades. But AMT is what took automatics mainstream in India. In a similar vein, born electric architectures with its inherent advantages is what will do the trick for the mass market segment. The Windsor has just shown the way
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Old 4th February 2025, 11:54   #5
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Re: January 2025: Electric Car Sales Figures & Analysis

BMW numbers are quite good for the segment it is operating. Is this including new IX1? Or will we see its numbers only in Feb.

BYD numbers is nothing great compared to the portfolio it has. MG is doing great and Mahindra might see a steep increase in coming months.
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Old 4th February 2025, 16:37   #6
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Re: January 2025: Electric Car Sales Figures & Analysis

The numbers show that there is a market expansion that has happened with the launch of the Windsor.

Jan 2024, the total EV sales were 8,486
Jan 2025, the total EV sales are 11,254

Growth of 32.6% YoY.

Obviously, some Tata sales have been diverted to MG due to the immense VFM offered by the Windsor, but it doesn't mean that the market hasn't grown.

Windsor and the Curvv have, for the first time, introduced locally made EVs (outside of XUV 400) in the 4+m segment. This is the segment where the EVs have the highest GST advantage and can potentially kill the sales of all 4m+ ICE cars if done well.

Tata, it seems, wants to protect its ICE sales in the 4m+ segments, and that is the reason why it isn't pricing the Curvv the way it could. Just to give some context: The difference in ex-factory prices of the Nexon Creative 1.2 MT and the Curvv Creative 1.2 MT (same engine and GB) is just Rs. 17,167. But, the ex-showroom difference between Nexon 45 Creative and Curvv 45 Creative (same motor and battery capacity) is 3.5 lakhs (it could have been 17,167 + 5% GST = 18k)!

Tata wants to make insane margins on the Curvv EV while it still can and that is why Windsor is able to sell as many as it is. If Curvv prices are brought down to more honest levels, it will be able to win a lot more sales from ICE cars as well considering the battery capacity and range numbers on the Curvv 55 are not too far from *single car garage* levels.

These numbers will only increase with the introduction of the Creta Electric, BE6, XUV E9 and the eVitara. All these cars belong to this *high GST advantage* segments. Unfortunately, the pricing revolution can only come from manufacturers that have very little skin in the ICE car market (eg. MG). When they do come in, this market is becoming unstoppable.

Last edited by Turbanator : 6th February 2025 at 09:23. Reason: Small addition- "difference"
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Old 4th February 2025, 18:14   #7
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Re: January 2025: Electric Car Sales Figures & Analysis

Quote:
Originally Posted by antz.bin View Post
Just to give some context: The ex-factory prices of the Nexon Creative 1.2 MT and the Curvv Creative 1.2 MT (same engine and GB) is just Rs. 17,167.
Not true. In Delhi, it is 1.37 lakh.
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Old 4th February 2025, 21:10   #8
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Re: January 2025: Electric Car Sales Figures & Analysis

Quote:
Tata, it seems, wants to protect its ICE sales in the 4m+ segments, and that is the reason why it isn't pricing the Curvv the way it could. Just to give some context: The ex-factory prices of the Nexon Creative 1.2 MT and the Curvv Creative 1.2 MT (same engine and GB) is just Rs. 17,167. But, the ex-showroom difference between Nexon 45 Creative and Curvv 45 Creative (same motor and battery capacity) is 3.5 lakhs (it could have been 17,167 + 5% GST = 18k)!
That's an excellent point you make. Tata should put their money where their mouth is. They've been going on and on about EVs, but haven't done a lot to push sales.

They should use this GST benefit to their advantage with the Harrier.EV at least and launch it at under 20L.

Last edited by safari_lover : 4th February 2025 at 21:11.
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Old 6th February 2025, 09:14   #9
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Re: January 2025: Electric Car Sales Figures & Analysis

Quote:
Originally Posted by antz.bin View Post

Tata, it seems, wants to protect its ICE sales in the 4m+ segments, and that is the reason why it isn't pricing the Curvv the way it could.
I doubt if that is the case. That’s because every customer switching from ICE to EV is effectively cannibalising ICE sales. Therefore Tata Motors will gladly have its EVs cannibalise its own ICE portfolio to keep them in their fold, rather than lose the customer to a competitor’s EV.

This tells you a thing or two about Tata’s strategy. Unlike MG or Mahindra, Tata’s strategy is to preserve the familiarity and brand recall of their ICE portfolio and provide EV as a powertrain option and not a separate brand all together. Think Nexon, Punch, Currv, and now Safari and Harrier. They all have EV variants. The premise is that the customer will walk in for a Nexon or a Punch or a Currv and choose the EV variant. I for one bought the Nexon EV Max with the same thought process simply because the brand was proven in the ICE world and therefore less risky to buy than a ground up all electric, albeit with the shortcomings of a conversion product.

The downside of this strategy is that, the market will eventually mature and warm up to born EV architectures and Tata motors may feel the pinch if their EV portfolios do not differentiate from their ICE portfolios. Perhaps that’s where Avinya comes in.

In conclusion, as I said before, skateboard architectures that free up space in EVs as Windsor has shown will be the differentiator for an EV. Acceleration, NVH etc are for the motorheads. The general populace are not motorheads, instead looking for practicality like space and ease of driving etc.
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Old 8th February 2025, 10:20   #10
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Re: January 2025: Electric Car Sales Figures & Analysis

January e3W passenger sales: Mahindra and Bajaj Auto separated by just 125 units.

January 2025: Electric Car Sales Figures & Analysis-screenshot-20250208-101943.jpg
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