EV Stocks to Watch After March 2025 Sales Surge: Top Performers & Market Trends
EV Stocks : India’s electric vehicle (EV) industry is accelerating at an unprecedented pace, fueled by strong government support, growing consumer awareness, and significant technological advancements. The latest sales data for March 2025 reveals key trends in the sector, showcasing which companies are gaining momentum and which are facing challenges.
With India poised to become the world’s largest EV market by 2030, investors are keeping a close eye on EV stocks. Let’s analyze the performance of the top EV players and what their latest sales numbers mean for the industry.
India’s EV Market: A Rapid Growth Story
The Indian EV market has been expanding exponentially. In FY24, EV adoption was highest in the passenger vehicle segment (57%), followed by electric two-wheelers (38%) and three-wheelers (5%). The industry is projected to surge from US$ 3.21 billion in 2022 to US$ 113.99 billion by 2029, growing at an impressive 66.52% CAGR.
By 2033, annual EV sales in India could touch 10 million units, with the government aiming for 30% of private cars and 70% of commercial vehicles to be electric by 2030. Given this backdrop, let’s dive into the latest EV stock sales figures from March 2025.
Top EV Stocks & Their March 2025 Sales Performance
1. Bajaj Auto Limited
- Stock Price: ₹7,968.65 (+1.20%)
- Market Cap: ₹2,22,530.61 crore
- EV Sales (March 2025): 34,863 units (+93% YoY, +62% MoM)
Bajaj Auto’s impressive 93% YoY growth and 62% MoM jump highlight its strengthening foothold in the EV segment. The strong sales figures indicate growing consumer trust and robust demand for its electric scooters.
2. TVS Motor Company Limited
- Stock Price: ₹2,448 (+1.14%)
- Market Cap: ₹1,16,301.33 crore
- EV Sales (March 2025): 30,453 units (+14% YoY, +61% MoM)
TVS Motor continues to solidify its position in the EV space, with steady annual growth and a strong monthly increase in sales. Its EV offerings remain attractive to consumers, driving consistent demand.
3. Ola Electric Mobility Limited
- Stock Price: ₹52.75 (-0.42%)
- Market Cap: ₹23,267.13 crore
- EV Sales (March 2025): 23,430 units (-56% YoY, +171% MoM)
Ola Electric faced a significant YoY drop of 56%, but its massive MoM recovery of 171% suggests a potential turnaround. The company must address supply chain challenges and competition to sustain long-term growth.
4. Hero MotoCorp Limited (Including Ather Energy)
- Stock Price: ₹3,761.25 (+1.05%)
- Market Cap: ₹75,229.08 crore
- Ather Energy Sales: 15,446 units (-11% YoY, +29% MoM)
- Vida EV Sales: 7,977 units (+95% YoY, +196% MoM)
Hero MotoCorp’s massive YoY surge in Vida EV sales (95%) and MoM growth of 196% reflect the company’s expanding EV portfolio. However, Ather Energy witnessed a slight annual dip, emphasizing the need for continued innovation.
5. Greaves Cotton Limited
- Stock Price: ₹214.50 (+0.09%)
- Market Cap: ₹4,986.73 crore
- EV Sales (March 2025): 5,641 units (+87% YoY, +52% MoM)
Greaves Cotton’s 87% YoY sales growth and 52% MoM increase highlight its growing presence in the EV space. The company’s strong momentum signals positive investor sentiment.
Key Financial Ratios of Top EV Stocks
| Company | Market Cap (₹ Cr) | Stock Price (₹) | YoY Growth (%) | MoM Growth (%) |
|---|---|---|---|---|
| Bajaj Auto | 2,22,530.61 | 7,968.65 | +93% | +62% |
| TVS Motor | 1,16,301.33 | 2,448 | +14% | +61% |
| Ola Electric | 23,267.13 | 52.75 | -56% | +171% |
| Hero MotoCorp (Vida EV) | 75,229.08 | 3,761.25 | +95% | +196% |
| Ather Energy | (Part of Hero MotoCorp) | – | -11% | +29% |
| Greaves Cotton | 4,986.73 | 214.50 | +87% | +52% |
Future Outlook for EV Stocks
With the EV market set to boom, investors should focus on companies that demonstrate consistent growth and adaptability. Bajaj Auto, TVS Motor, and Hero MotoCorp’s Vida EV segment are showing strong upward trends, while Ola Electric and Ather Energy need to stabilize their sales performance.
The government’s push for EV infrastructure, subsidies, and battery advancements will play a crucial role in shaping the industry’s future. As consumer preference shifts towards sustainability, EV stocks are likely to witness long-term gains.
FAQs: Quick Insights into EV Stocks & Market Trends
1. Which EV stock showed the highest YoY growth in March 2025?
Hero MotoCorp’s Vida EV segment grew 95% YoY, making it the top performer in terms of annual growth.
2. Why did Ola Electric’s sales decline 56% YoY?
Ola Electric faced supply chain issues and increased competition, leading to a sharp YoY sales drop, despite its strong 171% MoM recovery.
3. Which company recorded the highest MoM growth in March 2025?
Hero MotoCorp’s Vida EV segment surged 196% MoM, showing a remarkable increase in demand.
4. How is India’s EV market expected to grow by 2030?
India’s EV market is projected to reach US$ 113.99 billion by 2029, with 10 million annual sales by 2033. The government targets 30% private and 70% commercial EV adoption by 2030.
5. Which EV stock is the best investment for the future?
Bajaj Auto, TVS Motor, and Hero MotoCorp’s Vida EV show strong growth potential, making them attractive investment options for the long term.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.