The EV market in India expanded by 19% during 2024 because the Tata Punch secured the best-selling EV in the country for EV popularity.
On the Indian front, the sales of electric vehicles showed an upward trend in 2024 with 19% growth over the period, as per the data. This same automotive industry also reached an important milestone — the 1 lakh EV sales — in less than a year as well through these sales. Sample strove to parade EV consumer interest, electric four-wheeler percentage touched 2.5% of total passenger vehicles traction.
Tata Punch Dominates
As per the registration data, Tata Punch EV emerged as the highest-selling electric vehicle in India in 2024, with 22,724 units sold. Tata Motors, which has held onto a 62% share in the electric vehicle market segment, saw a marginal fall in its EV deliveries — from 66,690 units in 2023 to 66,561 units in 2024. The commercial success of the Punch model enabled Tata Motors to speed up electric vehicle consumer demand.
Competitive Landscape
The market sales for MG Motor vehicles escalated dramatically pushing the company to rank second in electric vehicles after Tata Motors. Reported merchandise data showed 2024 shipped factory units at 28,879 and held in 2023 at 12598. MG Motor: The above-mentioned high sales of MG Comet & MG Windsor EV in a row helped MG Motor to have widespread growth of its other product share in the market.
Mahindra’s Performance
The handling plants managed 28,879 unit releases and faced 12,598 units left in 2023 for this particular item. The remarkable market achievement of EV products by MG Motor resulted from their rapid and high-speed manufacturing of MG Comet and MG Windsor models.
Looking Towards the Future
The increasing popularity of electric vehicles in India confirms that countries worldwide adopt electric transportation. Customer adoption of electric vehicles will motivate suppliers to maintain research efforts because they need to build additional electric vehicle models. The Indian electric vehicle market shows strong potential because Tata Punch dominates while competitors MG and Mahindra experience ongoing success.
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