TVS Motor tops E2W segment in April; monthly EV sales moderate after record highs
TVS Motor Leads E2W Segment in April 2025: Indian EV Market Analysis
Table of Contents
The Indian electric vehicle market shows robust year-on-year growth in April 2025, with TVS Motor leading the E2W segment at 19,736 units. While overall numbers moderated from March’s record highs, the sector demonstrates strong momentum across all segments.
EV Market Overview: April 2025
Key Market Metrics
- Total EV registrations: 1.67 lakh units
- Year-on-Year Growth: 44% increase from April 2024
- Month-on-Month: Moderation from March’s 2.05 lakh units
- Strong performance across all segments
Despite a seasonal moderation from March’s peak, April 2025 demonstrates robust year-on-year growth, indicating sustained momentum in India’s EV adoption.
Electric Two-Wheeler Segment Performance
E2W Segment Highlights
- Total registrations: 91,791 units
- 40% growth compared to April 2024 (65,555 units)
- Moderate decline from March 2025’s peak
- Strong competition among top manufacturers
TVS Motor’s Market Leadership
TVS Performance Metrics
- April 2025 sales: 19,736 units
- 154% growth from April 2024 (7,762 units)
- iQube product range expansion
- Retail network expansion plans
K N Radhakrishnan, Director & CEO of TVS Motor, highlighted the iQube’s strong market position, supported by multiple battery options (2.2 kWh, 3.4 kWh, and 5.1 kWh) and plans for retail expansion beyond 900 outlets.
Competitor Performance Analysis
Key Player Performance
| Manufacturer | April 2025 Sales | YoY Growth |
|---|---|---|
| Ola Electric | 19,709 units | -42% vs Apr’24 |
| Bajaj Auto | 19,001 units | Significant growth |
| Ather Energy | 13,167 units | 218% vs Apr’24 |
| Hero MotoCorp | 6,123 units | 540% vs Apr’24 |
| Greaves Mobility | 4,018 units | 50% vs Apr’24 |
Other EV Segment Performance
Segment-wise Analysis
- Electric Three-Wheelers:
- April 2025: 62,531 units
- 49% YoY growth
- 5% MoM growth
- Electric Passenger Vehicles:
- April 2025: 12,204 units
- 58% YoY growth
- Market leaders: Tata Motors, MG Motor, Mahindra
The robust performance across all EV segments indicates growing consumer acceptance and improving market maturity in India’s electric vehicle sector.
Published on May 1, 2025
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