EV car registrations fall 23% in November; Tata Motors expands market share

Tata Motors strengthened its leadership with a 41 per cent market share, while JSW MG and Mahindra saw slight declines

EV four-wheelers registrations (electric motor cars) declined in November after a robust festive season spike in October.

Registrations declined by 23 per cent month-on-month in November, as per Vahan data collated at 10 am on December 1. The total registration of electric motor cars in November stood at 14,327 units, as against 18,559 units in October and 9,166 units in November 2024.

Tata Motors (manufacturers of Nexon, Punch and Tiago models) continues to be the top OEM with a 41 per cent market share, up from 40 per cent reported in October. The two other major OEMs – JSW MG (Windsor and Comet) and Mahindra Electric (XUV400 EV, XUV 9e, and BE 6) – saw a marginal decline in their market share.

Vietnam’s Vinfast, a recent entrant in the Indian EV market, is making rapid strides. Registration of Vinfast Auto (VF 7 and VF 6) more than doubled to 287 units in November, as against 135 in October. In contrast, Kia (EV6 and EV9 models), BYD India (Atto3, eMax7, Seal and Sealion 7), and BMW (iX, i4, iX3, i3 and i3s) saw a decline in registrations, according to Vahan data.

Anuj Sethi, Senior Director, Crisil Ratings, said the increase in EV sales in October 2025 (over September 2025) was primarily driven by festive-related demand. However, post the festive season, sales slowed in November 2025 (compared to October 2025) due to continued discounts on ICE PVs and a shortage of rare-earth magnets, which affected EV PV production.

“The reduction in tax rates along with additional discounts by original equipment manufacturers (OEMs) to boost ICE PV sales, has widened the price gap between entry-level EVs and ICE PVs to approximately 40 per cent, up from 26 per cent, favouring ICE PV sales,” he said.

Published on December 1, 2025