Tata EV Market Share Falls to 49% Amid MG Windsor’s Rise

After a good sales record in October, boosted by festivals, demand for electric cars slowed down in November 2024. However, November was still the third-best month of the year, and total sales from January to November (89,557 units) have already exceeded the total sales for all of 2023.

Among all popular car manufacturers, Tata Motors is facing more competition, while MG Motor India is doing well with its Windsor EV and new Battery-as-a-Service (BaaS) strategy. Let's get more insights.

Tata Motors Sales Down by 18 Percent in November 2024

Tata Motors, the market leader in the Indian electric vehicle (EV) segment, continues to face strong competition from other manufacturers. The company offers a wide range of electric cars, including the Tiago EV, Tigor EV, Nexon EV, Punch EV, and Curvv EV. In January 2023, Tata sold 2,471 units, but by January 2024, its sales surged by 134%, reaching 5,790 units. Despite this strong start, sales began to decline month by month, except for April and October 2024, when the brand achieved a 15% growth. Unfortunately, sales dropped by 18% last month.

Looking at the year-to-date performance, Tata Motors’ sales between January and November 2024 stood at 57,084 units, a modest 4% increase compared to 54,947 units in the same period in 2023. In terms of market share, Tata held 68% in November 2023, but this dropped to 49% in November 2024.

Also Read: Mahindra BE 6e Base Variant Features Explained

What Could Be the Reason?

It might come as a surprise that Tata Motors is losing ground in the EV segment, despite having a wide range of electric vehicles in its portfolio. One reason could be the growing competition from new entrants in the market. For example, the MG Windsor, the brand's third electric model, has introduced an innovative Battery-as-a-Service (BaaS) strategy, which has helped it gain traction.

MG Windsor has seen steady sales growth from January to November 2024. In November alone, it sold 3,126 units, a massive 227% increase compared to 956 units in the same month in 2023. This success is largely driven by the MG Windsor EV, India’s first "Intelligent CUV"—a unique blend of sedan and SUV.

Overall, MG’s sales between January and November 2024 have risen by 107%, reaching 17,614 units, compared to just 8,527 units during the same period last year. As a result, MG’s market share jumped to 36% in November 2024, up from just 13% in November 2023.

With only three electric vehicles in its lineup, MG is now dominating the EV segment and giving Tata Motors serious competition.

Source: Autocar