July EV sales of PV continue to gain momentum led by

TATAMOTORS

and

M&M

Retail sales of electric passenger vehicles (EVs) nearly doubled in July 2025, surging by 93% year-on-year (Y-o-Y) to 15,528 units. This strong growth was attributed to an expanding model lineup, improved availability, and state-level subsidies. In contrast to the car segment, electric two-wheeler sales saw a drop of 4.3% Y-o-Y to 102,973 units. The decline was partly due to output cuts caused by a shortage of rare-earth magnets. The EV share in the passenger vehicle category grew to 4.7% in July, more than doubling from 2.4% in July 2024. In the two-wheeler space, EV penetration reached 7.5%, a slight increase from 7.4% a year ago.

and JSW MG: Continued to lead the electric passenger vehicle market. Tata Motors recorded sales of 6,047 units, growing 28.4% month-on-month (M-o-M) and 18.6% Y-o-Y. , , and BYD: All three posted notable Y-o-Y growth. Hyundai's sales surged by an impressive 938.9% Y-o-Y, while BYD's sales increased by 28.9%. This was driven by new EV SUVs and compact models. : Experienced the sharpest fall, with sales plummeting 57.3% M-o-M. Established Players: and fared better, with sales reportedly down double-digits M-o-M but still managing Y-o-Y growth of 13% and 10% respectively. Fada President C.S. Vigneshwar noted that India's EV transition is steadily moving beyond early adopters. He emphasized that consistent policy support, accessible financing, and rapid expansion of charging infrastructure are crucial for sustained growth. Challenges and Future Outlook → Rare-Earth Magnet Shortage: The decline in electric two-wheeler sales was partly due to manufacturers facing output cuts following a shortage of rare-earth magnets. → Overall Sales: Despite the strong EV numbers, overall passenger vehicle retail sales declined marginally, indicating a softer overall retail environment