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Business Standard
4 days ago
- Automotive
- Business Standard
Datanomics: India EV penetration subdued even as biggies enter market
According to the data from Federation of Automobile Dealers Association (FADA), the EV penetration in India was just 7.8 per cent in FY25, marginally up from 7.1 per cent in FY24 premium Yash Kumar Singhal New Delhi Listen to This Article The electric vehicle ecosystem is set to get a boost in India with Tesla's first store in the country opening its doors on Tuesday in Mumbai. Its rival, Vietnamese EV firm VinFast, has also started bookings for its VF6 and VF7 models. However, the government's target to raise EV sales to 30 per cent of vehicle sales, or attain 30 per cent EV penetration, by 2030, looks unachievable at the current pace of adoption. Report card According to data from the Federation of Automobile Dealers Association (Fada), the EV penetration in India was just 7.8 per cent in 2024-25 (FY25), marginally up
Economic Times
12-07-2025
- Automotive
- Economic Times
Luxury car sales enter the slow lane in H1
Agencies Automobile retail sales in India rose 5% year-on-year in June, with all segments—including passenger vehicles and two-wheelers—reporting growth, FADA said. New Delhi: Luxury vehicle sales in India lost momentum in the first half of 2025, as stock market uncertainty and geopolitical tensions made buyers wary, industry executives said. Some 22,900 luxury cars were sold in the first six months of the year, according to industry estimates-an increase of 1.8% over the same period in 2024. In the mainstream passenger vehicle market, sales grew by about 2% till May and then declined in June. Industry body Society of Indian Automobile Manufacturers (SIAM) is yet to release data for car sales for the January to June period. Market leader Mercedes-Benz, which had posted 10% growth in sales in the last quarter to 4,238 units, recorded muted growth for the six-month period to 9,013 units. "Our sales last quarter were driven by demand for top-end vehicles and electric cars, where volumes increased by 20% and 157%, respectively. We do not have many cars and are not participating in the entry luxury segment, where our sales are lower," said Mercedes-Benz India's managing director, Santosh Iyer. "But that said, there is a lot of uncertainty in the broader market on account of the geopolitical situation, tariff decisions, price increases... For the (luxury vehicle) industry, for the entire year, we expect volumes to grow modestly in 2025."The German automaker's India unit has pending orders of about 1,500 cars, with a waiting period on some high-end models stretching to January 2026. But given the high base of more than 50,000 units in 2024, the company expects the industry to grow in single-digits in 2025. Audi India's head, Balbir Singh Dhillon, said, "As an industry, we are facing headwinds as slowing demand-driven by price increases from a weakening exchange rate and heightened market uncertainty amid evolving geopolitical tensions-continues to impact performance."The company's sales in the first six months of the year fell by 14% to 2,128 units. Singh, however, is confident of growth in the forthcoming months, which he said would be "driven by growing customer aspirations, exciting product launches and focus on delivering exceptional customer experiences".German rival BMW managed to buck the trend to report a 10% increase in sales at 7,774 units between January and June Pawah, president and CEO of BMW Group India, said, "Consumer sentiment was impacted to a certain extent in the second quarter due to the geo-political situation and increasing exchange rates. But with our strategic planning, fresh product portfolio and smart financial solutions, we carried forward the performance momentum." The company expects "to close 2025 on a high note with double-digit growth". In 2024, luxury car sales grew by about 8% to more than 50,000 units. This category has a little over 1% market share in India-the lowest among major economies. India, however, offers ample growth potential in the medium to long-term, given that it is home to one of the highest number of billionaires worldwide, industry experts said. Between 2023 and 2028, India will see the highest increase for any country in the number of ultra-high-net-worth individuals (UHNWIs), with a net worth of $30 million or more, as per Knight Frank's flagship study, 'The Wealth Report 2024'. The number of ultra-rich Indians is expected to surge by 50% to 19,908 in 2028 from 13,263 in 2023. India will be followed by China (47%), Turkiye (42.9%), and Malaysia (35%), according to the report.
Time of India
09-07-2025
- Automotive
- Time of India
EV sales in India rise 28.6% to 1,80,238 in June: FADA
Electric vehicle (EV) sales in India rose 28.60 per cent to 1,80,238 units in June over the period year-ago, driven by massive jump in e-passenger vehicle volumes, Federation of Automobile Dealers' Association ( FADA ) said in a statement on Tuesday. Electric passenger vehicle sales, as per FADA data, stood at 13,178 units in the previous month compared to 7,323 e-PVs in June 2024, registering a sharp increase of 79.95 per cent year-on-year. The e-passenger vehicles' share in the overall electric vehicle market shot up to 4.4 per cent in June 2025 from 2.5 per cent in June 2024, it said. Electric three-wheeler volumes during the month under review were recorded at 60,559 units, up 15.79 per cent from 52,302 units in the same month last year. The e-three-wheeler segment, as per FADA data, rose to 60.2 per cent in the total EVs demand in June 2025 against 55.4 per cent in the period a year earlier. Electric two-wheeler retail sales during June 25 surged 31.69 per cent at 105,355 units as against 80,003 e-two-wheelers retailed in June 2024, the automobile dealers' body said. Electric commercial vehicle retail sales for the period under review was seen at 1,146 units as compared to 515 units in June 2024, a growth of 122.5 per cent year-on- year, FADA said. Electric mobility is gathering unprecedented momentum across all segments, underpinned by the PM e-Drive Scheme 's mandate to make electric vehicles more accessible and affordable, said FADA President, C S Vigneshwar. "In June 2025, electric two-wheelers commanded 7.3 per cent of the market, up from 5.8 per cent a year ago, demonstrating growing consumer confidence in EV technology. Electric three-wheelers now account for over 60 per cent of all three-wheeler sales, cementing their role in last-mile connectivity, while PV, EV penetration rose to 4.4 per cent and electric CV doubled to 1.56 per cent YoY," he said. By expanding charging infrastructure and fostering domestic innovation, this visionary initiative is driving record EV sales nationwide and charting a path to a cleaner, smarter, and self-reliant mobility future for India, he added.
NDTV
09-07-2025
- Automotive
- NDTV
EV Demand Gains Momentum, Recording 28.6 Pc Growth In Sales: FADA
Mumbai: Electric vehicle (EV) sales in India rose 28.60 per cent to 1,80,238 units in June over the period year-ago, driven by massive jump in e-passenger vehicle volumes, Federation of Automobile Dealers' Association (FADA) said in a statement on Tuesday. Electric passenger vehicle sales, as per FADA data, stood at 13,178 units in the previous month compared to 7,323 e-PVs in June 2024, registering a sharp increase of 79.95 per cent year-on-year. The e-passenger vehicles' share in the overall electric vehicle market shot up to 4.4 per cent in June 2025 from 2.5 per cent in June 2024, it said. Also Read - Mahindra XUV 3XO REVX Launched At Rs 8.94 Lakh Electric three-wheeler volumes during the month under review were recorded at 60,559 units, up 15.79 per cent from 52,302 units in the same month last year. The e-three-wheeler segment, as per FADA data, rose to 60.2 per cent in the total EVs demand in June 2025 against 55.4 per cent in the period a year earlier. Electric two-wheeler retail sales during June 25 surged 31.69 per cent at 105,355 units as against 80,003 e-two-wheelers retailed in June 2024, the automobile dealers' body said. Electric commercial vehicle retail sales for the period under review was seen at 1,146 units as compared to 515 units in June 2024, a growth of 122.5 per cent year-on- year, FADA said. Electric mobility is gathering unprecedented momentum across all segments, underpinned by the PM e-Drive Scheme's mandate to make electric vehicles more accessible and affordable, said FADA President, C S Vigneshwar. "In June 2025, electric two-wheelers commanded 7.3 per cent of the market, up from 5.8 per cent a year ago, �demonstrating growing consumer confidence in EV technology. Electric three-wheelers now account for over 60 per cent of all three-wheeler sales, cementing their role in last-mile connectivity, while PV, EV penetration rose to 4.4 per cent and electric CV doubled to 1.56 per cent YoY," he said. By expanding charging infrastructure and fostering domestic innovation, this visionary initiative is driving record EV sales nationwide and charting a path to a cleaner, smarter, and self-reliant mobility future for India, he added.
Time of India
08-07-2025
- Automotive
- Time of India
EV sales surge 29% to 1.8L units in June: FADA
Representative image MUMBAI: Electric vehicle (EV) sales in India rose 28.6% to 1,80,238 units in June over the year-ago period, driven by massive jump in e-passenger vehicle volumes, Federation of Automobile Dealers' Association (FADA) said in a statement on Tuesday. Electric passenger vehicle sales, as per FADA data, stood at 13,178 units in the previous month compared to 7,323 e-PVs in June 2024, registering a sharp increase of nearly 80% year-on-year. The e-passenger vehicles' share in the overall electric vehicle market shot up to 4.4% in June 2025 from 2.5% in June 2024, it said. Electric three-wheeler volumes during the month under review were recorded at 60,559 units, up 15.8% from 52,302 units in the same month last year. The e-three-wheeler segment, as per FADA data, rose to 60.2% in the total EVs demand in June 2025 against 55.4% in the period a year earlier. Electric two-wheeler retail sales during June 25 surged 31.7% at 105,355 units as against 80,003 e-two-wheelers retailed in June 2024, the automobile dealers' body said. Electric commercial vehicle retail sales for the period under review was seen at 1,146 units as compared to 515 units in June 2024, a growth of 122.5% year-on- year, FADA said. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
