FY'25 EV Retail Sales Data: Tata Motors, Switch Mobility, and Mahindra Lead the Charge

Key Highlights:

• Tata Motors remains the leader in the commercial EV market.
• Switch Mobility Automotive Ltd showed strong growth.
• Mahindra Group's market share grew from 6.09% in FY'24 to 9.72% in FY'25.
• Olectra Greentech Ltd and PMI Electro Mobility Solutions Pvt Ltd saw increases in their market share.
• The overall commercial vehicle EV market saw a slight increase in total sales.

The Federation of Automobile Dealers Associations (FADA) released vehicle retail sales data for FY'25. The commercial vehicle electric vehicle (EV) market has shown interesting shifts in FY'25 compared to FY'24. Here's the OEM-wise EV Market Share Data for FY’25:

Tata Motors Ltd remains the leader, although it saw a decline in market share, dropping from 65.91% in FY'24 to 48.46% in FY'25. The sales volume also decreased from 5,598 units to 4,286 units in FY'25.

Switch Mobility Automotive Ltd showed a remarkable growth, increasing its market share from 2.19% in FY'24 to 11.09% in FY'25. Their sales increased from 186 units in FY'24 to 981 units in FY'25.

The Mahindra Group also made impressive sales, growing its market share from 6.09% in FY'24 to 9.72% in FY'25. The company sold 860 units in FY'25, up from 517 units last year. Here's a deeper look at Mahindra's performance across its different divisions:

• Mahindra Last Mile Mobility Ltd experienced significant growth, with its market share increasing from 3.30% in FY'24 to 9.60% in FY'25. Sales surged from 280 units to 849 units.
• Mahindra & Mahindra Ltd saw a notable decline in market share, dropping from 2.59% in FY'24 to just 0.12% in FY'25. Sales decreased sharply from 220 units to 11 units in FY'25.
• Mahindra Electric Mobility Ltd had no recorded sales in FY'25, compared to 17 units in FY'24, where it held a 0.20% market share.

Olectra Greentech Ltd had a positive increase, growing from 5.14% in FY'24 to 8.03% in FY'25, with sales rising from 437 to 710 units in FY'25.

PMI Electro Mobility Solutions Pvt Ltd saw a moderate rise in market share from 4.50% to 5.45%, with an increase in sales from 382 to 482 units in FY'25.

JBM Auto Ltd experienced a drop in market share from 6.24% to 4.29%, as its sales decreased from 530 to 379 units in FY'25.

VE Commercial Vehicles Ltd showed a small increase in market share from 1.48% to 1.93%, with sales going up from 126 to 171 units in FY'25.

Pinnacle Mobility Solutions Pvt Ltd saw strong growth, rising from 0.87% to 1.56%, with an increase in sales from 74 to 138 units in FY'25.

IPL Tech Electric Pvt Ltd saw growth from 0.47% to 1.40%, with its sales increasing from 40 to 124 units in FY'25.

Omega Seiki Pvt Ltd had a slight increase, growing from 1.22% to 1.38%, with sales rising from 104 to 122 units in FY'25.

Others accounted for 6.68% of the market, with sales increasing from 500 to 591 units in FY'25.

In total, the commercial vehicle EV market saw a slight increase, with total sales of 8,844 units in FY'25 compared to 8,494 units in FY'24.

Also Read: Commercial Vehicle Retail Data FY'25: Tata Motors Tops Sales, Mahindra & Mahindra Sees Growth

CMV360 Says

The commercial EV market is diversifying, with emerging players like Switch Mobility Automotive Ltd and Mahindra Group making notable gains, while traditional leaders like Tata Motors Ltd experience a decline in sales. New brands are gaining traction, which shows a more competitive and dynamic market landscape for the future.