Tata, Mahindra capture 62% of India EV market as May volumes surge 79% to 26,319 units
Electric car sales jumped 79% YoY in May to 26,319 units, with Tata Motors at 38.9% share and Mahindra at 23.3%. JSW MG slid to 18.8% from 31.2% while Hyundai held just 1.7%. Vietnam's VinFast debuted at 4.7% share with 2,512 units, signalling intensifying competition in the premium EV segment.
India's electric car market surged 79% in May to 26,319 units, with Tata Motors and Mahindra capturing nearly 62% combined share. JSW MG and Hyundai lost ground while Vietnam's VinFast emerged as a notable new entrant.
Why this matters
Tata's 38.9% share extends momentum from sub-₹12 lakh EV bookings rising 2-2.5x, with supply now the bottleneck. Tata is eyeing a 50% capacity hike as demand doubles across the segment.
Retail-brand signals steady at 839 over the past 90 days.