Electric vehicles (EVs) sales in the country during January increased by 19.4 percent and 17.1 percent to 1,69,931 over the previous year. This information has been received from the Federation of Automobile Dealers Association (Fada) data. Fada collects data from 1,375 from the Ministry of Road Transport and Highways and 1,436 regional transport offices.
While passenger vehicles and two -wheelers recorded an increase in two points, commercial vehicles and three -wheelers recorded an increase in one point on an annual and monthly basis. The sales of passenger vehicles, two -wheelers, commercial vehicles and three -wheelers during January were 11,266, 97,734, 972 and 59,959 respectively. These included 32.3 percent, 18.8 percent, 12.1 percent and 2.2 percent respectively as compared to the same period of the previous year.
Ola e -Le Curtian in the two -wheeler retail sales category recorded the highest sales of 24,336 vehicles with a 76 percent increase compared to last month. However, the company’s sales fell by about 25 percent compared to last year. TVS Motor and Bajaj Auto recorded a jump of 55 percent and 95.6 percent on an annual basis in their sales.
Tata Motors, MG Motors, Mahindra & Mahindra and Hyundai Motor saw a significant increase in their monthly sales in terms of passenger vehicles. However, Tata Motors and Mahindra & Mahindra saw a decline compared to last year. Both electric vehicle manufacturers remained the same in the sale of commercial vehicles. The second half of the year 2024 saw EV sales and it reached 2,19,482 vehicles in October, which was the monthly figure of the year.
Although sales decreased to 1,92,575 and 1,32,302 vehicles (till December 29) in November and December, the monthly sales remained more than 1,00,000 vehicles throughout the year. Last year’s growth was a new boost as the Ministry of Heavy Industries restored subsidy to e-triphia vehicles carrying e-triphia vehicles under the PM e-Drive scheme for the remaining period of the current financial year (FY 25). Although the first year was earlier halted after the annual target of FY5 25 was stopped, but later it has been reduced from Rs 50,000 per vehicle to Rs 25,000.
The industry sold 80,546 vehicles within a few months starting the scheme. Fada is expected to increase significant increase in market share in all areas.
Fada Chairman CS Vighneshwar said, “Retail sales of electric vehicles have been increasing on its powerful path in January, due to the increasing acceptance of consumers towards clean traffic and the commitment of original equipment manufacturers (OEMs).”