Demand for the BEVs (Battery Electric Vehicles) and strong hybrid EVs is all-time high in the country. In Q1 2023, the combined sales of BEVs (21,109 units) and strong hybrid EVs (22,389 units) stood at 43,498 units against 30,319 units of Q4, 2022. While Tata Motors continued to dominate the BEV segment (73%) with the Tiago EV and Nexon EV, Toyota lead the strong hybrid EV market (83%) with the Innova Hycross. What’s more interesting is the Tata Tiago EV outnumbered the Nexon EV with a big margin.
In Q1 2023, the home-grown automaker retailed a total of 8,358 units of the Tiago EV and 4,994 units of the Nexon EV. Mahindra’s XUV400 stood at number third with sales of 2,092 units, followed by the Tata Tigor (1,996 units), MG ZS (1,533 units) and Citroen eC3 (1,101 units). BYD started deliveries of the Atto 3 electric SUV in January and within three months registered sales of 864 units.
Talking about the strong hybrid EV market, Toyota Innova Hycross recorded total sales of 9,251 units in the first quarter of 2023. Toyota’s Hyryder SUV was the second top-selling strong hybrid vehicle with sales of 8,788 units, while its re-badged Maruti Suzuki SUV (Grand Vitara) recorded sales of 3,490 units. The Honda City hybrid sedan was the fifth best-selling strong hybrid vehicle in Q1, 2023. The Japanese automaker managed to sell 325 units of the electric sedan.
Upcoming BEVs and Strong Hybrid EVs
In order to tap the growing BEV market, car manufacturers such as Maruti Suzuki, Hyundai, Tata, Mahindra, Skoda and Volkswagen will bring in more EVs in coming years. The first electric car from Maruti Suzuki will be based on the EVx concept and it will hit roads in early 2025. Hyundai, Tata and Mahindra will introduce the electric iterations of the Creta, Punch and XUV700 SUVs respectively.
Honda Cars India will unveil its new compact SUV with strong hybrid powertrain on 6th June 2023, followed by its launch. Maruti Suzuki will introduce a new hybrid premium MPV by July 2023 that will be based on the Toyota Innova Hycross. The Indo-Japanese carmaker will expand its strong hybrid vehicle range with the new-generation Swift and Dzire.
