Ola Electric and Tata Motors continue to lead the market in electric two-wheeler (e2W) and passenger vehicle (PV) segments respectively in retail sales, as per January retail sales data shared by Federation of Automobile Dealers Associations (FADA) on Wednesday.

In the e2W segment, Ola Electric sold 32,252 units in January, growing by around 76 per cent year on year (YoY) compared with 18,353 units in January 2023.

The Chennai-based TVS Motor Company was the number two player in the e2W segment with a y-o-y growth of 45.49 per cent to 15,224 units during the month (10,464 units).

Bajaj Auto was the third player with sales of 10,829 units in January, a growth of 233 per cent YoY (3,255 units). Ather Energy followed at 9,247 units during January (9,227 units), a marginal growth, the data shared by FADA indicated.

The grand total of all the e2W (including other players) put together grew 26.14 per cent YoY to 81,608 units in January (64,694 units).

electric PVs

In the electric PV segment, Tata Motors recorded retail sales of 5,591 units in January, a growth of 125.26 per cent YoY (2,482 units).

MG Motor followed with sales of 1,162 units during the month (435 units), recording a YoY growth of 167.13 per cent.

With both the companies (Tata Motors and MG Motor) announcing discounts on their EVs recently by up to ₹1.20 lakh, their February sales are expected to go up.

Mahindra & Mahindra, which had sold zero EV in January 2023, has sold 741 units of its EV XUV400 during January 2024.

Hyundai Motor India sold 162 units of its EVs during the month (117 units).

In the luxury car segment, BMW India led the EV market with 146 units (126 units), followed by Mercedes-Benz India with retail sales of 57 units in January (44 units).

In the electric three-wheeler segment, the total retail sales went up 54.45 per cent YoY to 53,298 units (34,508 units), the data shared by FADA added.