The latest buzzword in EV Inc? Women buyers, Energy News, ET EnergyWorld

[ad_1]

One out of every four electric vehicles sold in the Indian market is bought by a woman – more than double the share of female buyers of petrol and diesel cars.

Senior industry executives ET spoke with said ease of driving and ownership along with increasing environmental awareness are propelling many women to choose electric cars over those powered by petrol and diesel. With more women joining the workforce and becoming financially empowered to make decisions, the trend is expected to continue, they added.

Tata Motors, the country’s largest electric carmaker, said women account for 24 per cent of its EV sales while its closest rival MG Motor India put the number at 23-24 per cent. In contrast, women’s contribution to sales of fossil-fuel cars in the country remains in the range of 11 per cent to 12 per cent.

Tata Motors and MG Motor together account for about 85 per cent electric passenger vehicles sold in the country.

“The performance and the ease of owning them (EVs) is making them appeal to women,” said Gaurav Gupta, deputy managing director of MG Motor India.

Electric vehicles by default are automatic, peppy, and great in terms of driveability, he said.

Low maintenance an advantage
“They are easy to maintain, entail no visits to the petrol pumps and few visits to the service station for maintenance,” Gupta said.

Shailesh Chandra, managing director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, said the proportion of women buyers opting for electric powertrains is double compared to 11-12 per cent for petrol and diesel variants.

“We are seeing healthy traction for electric vehicles from the top seven metros – Delhi, Ahmedabad, Mumbai, Pune, Hyderabad, Bengaluru and Chennai,” he said. “Beyond that, the momentum is strong in Kerala. It is the second-largest state in terms of sales of electric vehicles with consumers in the mainstream segment also opting for the (electric) powertrain.”

Tata Motors – which sells EV versions of hatchback Tiago, sedan Tigor and SUV Nexon in the personal car segment – is “gunning for 100,000 units (in sales) this fiscal and so far is on track”, Chandra said.

He said overall industry sales “should more than double over last year”. About 55,000 electric passenger vehicles were sold in the local market in FY23.

Tata Motors plans to double its portfolio in this category with the launch of Harrier EV, Punch EV and Curvv EV over the next few months.

Chandra said electric vehicles account for 14-15 per cent of sales at Tata Motors, which is expected to go up to 25 per cent by 2027 and 50 per cent by the end of the decade.

MG Motor expects 25-30 per cent of its sales to come from electric vehicles in 2023, buoyed by the launch of its second EV model – hatchback Comet EV. Its other model in the market is ZS EV, an SUV.

At the higher end of the market, luxury carmaker Mercedes Benz is seeing nearly 15 per cent of its sales for electric vehicles coming in from women buyers.

“Overall, we register about 15 per cent of our sales from women buyers. For EVs, too, despite these being recent launches, the trend is similar at 13-15 per cent,” said Santosh Iyer, managing director of Mercedes Benz India.

  • Published On Sep 16, 2023 at 09:13 AM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETEnergyworld App

  • Get Realtime updates
  • Save your favourite articles


Scan to download App


[ad_2]

Leave a Reply

Your email address will not be published. Required fields are marked *