Electric Four-Wheeler Sales: December 2023
December 2023 painted a mixed picture for the Indian electric four-wheeler market, with some brands celebrating growth while others grappled with declines. Let’s delve into the top 11 performers’ sales data and analyze the underlying trends. Here is the Electric Four-wheeler (Electric car and Bus) Sales Data for December 2023.
Electric Car Sales December 2023
| Sr. N. | EV Company | Sales in Nov. | Sales in Dec. | MoM Growth |
| 1. | Tata.ev | 4,905 | 4,684 | -4.50 |
| 2. | MG Motor | 935 | 950 | 1.60 |
| 3. | Mahindra XUV400 | 518 | 662 | 27.79 |
| 4. | BMW India | 280 | 160 | -42.85 |
| 5. | BYD India | 139 | 168 | 20.86 |
| 6. | JBM Auto | 23 | 137 | 495.65 |
| 7. | Hyundai Motor | 165 | 123 | -25.45 |
| 8. | Mercedes-Benz India | 44 | 64 | 45.45% |
| 9. | Volvo India | 70 | 54 | -22.85 |
| 10. | PCA Auto (Citroen) | 127 | 49 | -61.41 |
| 11. | Kia Motors | 37 | 30 | -18.91 |
–Tata Motors retained its pole position, despite a slight 4.50% dip in sales compared to November. Their 4,684 units sold demonstrate their continued stronghold in the market.
–MG Motor, on the other hand, enjoyed a modest 1.60% increase, pushing their December sales to 950 units. This indicates a steady climb for the brand in the electric car space.
–Mahindra’s XUV400 surprised everyone with a significant 27.79% surge in sales, reaching 662 units in December. This could be attributed to the festive season demand or strategic marketing efforts.
-However, not all news was positive. Established players like BMW India and Hyundai Motor witnessed notable declines of 42.85% and 25.45%, respectively. This could be due to various factors, including price points, competition, or model availability.
–BYD India and JBM Auto bucked the trend with moderate growth of 20.86% and 61.49%, respectively. This highlights the potential of niche players who cater to specific market segments.
–Mercedes-Benz India and Volvo India maintained their December sales figures compared to November, indicating niche appeal and consistent brand loyalty.
–PCA Auto (Citroen) and Kia Motors experienced dips of 61.41% and 18.91%, respectively. These declines could be due to recent market entries or adjustments in their sales strategies.
Overall Market Trends:
The December 2023 electric four-wheeler market showcased a diverse landscape with growth for some, stagnation for others, and even declines for established players.
Factors like festive season demand, strategic marketing, and specific vehicle offerings seem to have influenced individual brand performances.
The continued dominance of Tata Motors and the encouraging rise of Mahindra’s XUV400 indicate a promising future for electric SUVs.
The mixed performance of other brands highlights the need for strategic adjustments and targeted market approaches to ensure sustained growth.
Looking Ahead:
The Indian electric four-wheeler market is predicted to see continued expansion in 2024. Government incentives, improved charging infrastructure, and a wider range of vehicle options are expected to fuel this growth. However, competition is likely to intensify, making it crucial for brands to adapt their strategies and cater to specific consumer demands to secure their place in this dynamic market.
Also Read:- Electric Two-wheeler Sales Data: December 2023