AtliQ Motors, a leading automotive company in the USA specializing in electric vehicles (EV), is planning to expand its market presence in India, where its market share is currently less than 2%. To support this expansion, a detailed market study of the existing EV/Hybrid market in India was conducted. This analysis provides insights into the current state of the market, identifies growth opportunities, and presents strategic recommendations to increase AtliQ Motors' market share in India.
The primary objective of this project is to perform a comprehensive analysis of the Indian EV market to support AtliQ Motors' strategic decision-making. The analysis aims to:
- Identify top-performing states in EV sales.
- Analyze the growth rate of EV sales over the years.
- Compare the performance of top brands in the 2-wheeler and 4-wheeler segments.
- Forecast future EV sales to guide strategic planning.
- Provide actionable insights and recommendations for market expansion.
The analysis is based on the following data sources:
- EV Sales Data: Dataset containing sales data for electric vehicles across various states in India, segmented by vehicle type (2-wheelers and 4-wheelers) and brand.
- Date Information: Dimensional data providing fiscal years and quarterly details.
- Additional Research Data: Supplementary data collected to support the analysis, including government incentives and infrastructure availability.
The dashboard provides an interactive and comprehensive view of the Indian EV market, covering the following key areas:
- Growth Rate Visualization: Displays the dynamic growth rate of EV sales in 2023 and 2024 compared to the base year 2022.
- Top States by EV Sales: Highlights the top states in terms of EV sales, segmented by quarters.
- EV Sales Distribution: A pie chart segmenting sales between 2-wheelers and 4-wheelers.
- Year and Vehicle Category Selection: Slicers to dynamically filter the data based on the year and vehicle category.
- Map Visualization: Geographical representation of EV sales penetration across states in India, with markers indicating sales volumes.
- EV Sales Progression (2022-2024): A waterfall chart showing the progression of EV sales across states over the years.
- Quarterly EV Sales: A line chart depicting the trend in EV sales for top states on a quarterly basis.
- Top and Bottom Brands: Bar charts showing the top-performing and least-performing brands in the EV market.
- Delhi vs Karnataka Penetration: A comparison chart showing the penetration rates of EVs in the states of Delhi and Karnataka.
- EV Sales Forecast: A line chart projecting EV sales for subsequent years, helping to identify potential growth areas.
- CAGR for 4-Wheelers: Analysis of the Compound Annual Growth Rate (CAGR) for the top brands in the 4-wheeler segment.
- Strategic Recommendations: Based on the analysis, this section provides actionable insights for AtliQ Motors to expand its market share in India.
- Brand Ambassador & Marketing Strategies: Suggestions on potential brand ambassadors and marketing strategies tailored to the Indian market.
- Growth Trends: The analysis shows a significant growth in EV sales in states like Gujarat, Karnataka, and Kerala. The CAGR for 4-wheelers indicates a strong upward trend, suggesting potential areas for investment.
- Top Performing States: Gujarat, Karnataka, and Maharashtra consistently emerge as the top-performing states in EV sales.
- Brand Performance: Brands like OLA Electric and TVS dominate the 2-wheeler segment, while newer entrants show potential in the 4-wheeler market.
- Future Projections: The forecasted EV sales suggest that the Indian market is on the brink of rapid expansion, with significant opportunities in both 2-wheeler and 4-wheeler segments.
- Focus on High-Growth States: Concentrate marketing and sales efforts in states like Gujarat, Karnataka, and Maharashtra, which show high growth potential.
- Expand Charging Infrastructure: Partner with state governments to enhance EV charging infrastructure, particularly in urban areas.
- Leverage Government Incentives: Utilize existing government subsidies and incentives to offer competitive pricing and attract cost-sensitive consumers.
- Brand Ambassadors: Collaborate with local celebrities and influencers who resonate with the target demographic to promote EV adoption.
- Navigate through the tabs: Each tab provides a different aspect of the analysis, from overall trends to brand performance and future projections.
- Use slicers for custom views: The slicers allow you to filter data based on specific years and vehicle categories, providing a tailored view of the market.
- Interactive elements: Hover over the charts and map to view detailed insights and data points.
This analysis equips AtliQ Motors with the necessary insights to make informed decisions as it expands its presence in the Indian EV market. By focusing on high-growth states, enhancing infrastructure, and leveraging strategic partnerships, AtliQ Motors can significantly increase its market share and establish itself as a leader in the Indian EV industry.
- Data Source: Vahan Sewa for providing the dataset used in this analysis.
- Special Thanks: Codebasics for organizing this challenge and providing the platform to showcase data analytics skills.
