Battery Electric Vehicles (BEV) sales reached an all-time high level of 26,794 units in Q2-2023, which is 2.7% of total PV sales.
Strong-hybrid vehicle sales dropped to 14,399 units as Toyota dropped production despite having a strong order backlog.
Combined sales of strong-hybrids and BEVs dropped to 4.1%, from 4.3% in Q1-2023.
Tata and Toyota continue to dominate the BEV and strong-hybrid EV markets with 71% and 69%, respectively.
Tata Tiago EV is the best-selling BEV product, and Toyota Innova Hycross is the best-selling strong-hybrid EV in Q2 2023.
Battery EV (BEV) sales overtook Strong-hybrid EV (HEV) sales in Q2-2023 as Toyota dropped production of HEVs despite having a strong order backlog. Combined sales of BEV and HEV dropped to 4.1% from 4.3% in Q1-2023 in the Indian passenger vehicle market, with each contributing 2.7% and 1.4%, respectively.
BEV sales touched a new level of 26,749 units in Q2-2023, due to the introduction of a new product by MG and continued sales momentum from Tata.
As the BEV market expands with new products from rivals - Tata's market share has fallen to 71%.
MG has been doing consistent numbers, as BYD and Citroen’s dispatch dropped in Q2-2023.
Toyota continues to lead HEV sales with a drop in share due to less production and dispatch.
Maruti comes next, and Honda’s sales have less traction due to higher pricing.
The introduction of the MG Comet increased hatchback share in the BEV segment to 49%, and SUVs are next at 39%. Currently, the HEV segment is limited by UV-dominated body styles.
The Tata Tiago EV was the best-selling BEV in Q2-2023.
Amid production constraints on Tata BEVs, Tata seems to have shifted production from Nexon EV to Tiago EV.
Deliveries of the Mahindra XUV400 were flat, and deliveries of the Citoren eC3 dropped in Q2-2023.
The BYD Atto3 average monthly sales dropped to 137 units in Q2-2023 from 288 in Q1-2023.
The Innova Hycross was the best-selling HEV in Q2-2023, followed by Maruti’s Grand Vitara.