November EV sales data: OLA and TATA on top, MG Motors at No. 2

Following heavy sales in the festive season of October, the registration of total electric vehicles in November remains moderate. However, the momentum of sales has continued to remain robust due to traditional manufacturers giving hard competition to market giants like Ola, The Hindu Businessline reported. 

According to the report, MG Motors, with its new product offering, has replaced Mahindra & Mahindra by acquiring second position in monthly sales. Meanwhile, Tata Motors secured the top rank.

After hitting a new sales record of 2.19 lakh units in Oct, the total registration of EVs (in all segments) in November stood at 1.92 lakh units, marking an increase of 25% from November 2023, citing Vahan data, the report added. 

Meanwhile, in the two-wheeler segment, electric scooters and bikes achieved sales of 1.19 lakh units, marking a 29% increase from November 2023 but registering a decline from 1.40 lakh units in October.

Although sales of electric two-wheelers fell from 41,775 units in October to roughly 29,200 units in November, Ola Electric maintained its leading position in the market. In spite of Bajaj's intense battle, TVS Motor managed to maintain its second-place ranking. Bajaj came in second with 26,163 units (down from 28,360 in October), while TVS sold about 26,980 units (down from 30,074 in October). The sales difference between TVS and Bajaj, two more established competitors, and Ola Electric has been progressively closing. The difference is probably going to close as both TVS and Bajaj bring their electric scooters to additional areas.

Hero MotoCorp's sales of electric two-wheelers decreased slightly to 7309 from 7337 units the previous month, while Ather's sales were approximately 12,750 units (16,156 units). The volumes of Greaves were around 4470 units (3900 units).

Activity in the electric vehicle market has surged since the introduction of the MG Windsor, a new electric vehicle from JSW MG Motor. Approximately 8,585 electric passenger vehicles (PVs) were registered overall in November, after reaching a record 11,150 in October. Despite having fewer numbers than October, November's monthly total was still the second-highest of this fiscal year.