India’s Electric Vehicle sales trend

Category-wise Electric Vehicle sales April 2024| India

Total Registered Electric Vehicle Sales – Apr’24 -1,14,910 I March’24 -2,12,502

In April 2024, electric vehicle (EV) sales in India showcased an overall decrease across different categories compared to March 2024. Electric two-wheelers (E2W) substantially decreased from 139,288 units in March to 65,057 units in April. Similarly, E-rickshaw sales experienced a decline from 37,352 to 31,796 units. The category of E3W L5 Passenger vehicles also witnessed a notable decrease from 11,777 to 4,271 units. E-cart sales slightly decreased from 5,090 to 4,220 units. However, there was a significant drop in E3W L5 Cargo vehicles, plummeting from 6,554 to 1,745 units. Electric four-wheelers (E4W) also declined from 9,383 to 7,290 units. Sales of electric buses (E Bus) decreased from 414 to 211 units. Additionally, other EV categories collectively saw a decline, from 1,757 to 320 units.

Category wise-Sales Trend from April 2023 to April 2024

16,83,600 EVs sold in the last 12 months from May 2023 to April 2024

Source: Vahan Dashboard. Data as per 1360 out of 1503 RTOs across 34 out of 36 state/UTs

From April 2023 to April 2024, India witnessed a steady rise in electric vehicle (EV) sales, totaling 1,683,600 units. The sales trajectory commenced in April 2023 with 111,355 units, followed by a peak in May 2023 at 158,459 units. A minor dip was observed in June 2023, with sales declining to 102,639 units due to reduced subsidies. However, sales rebounded from July 2023 onwards, reaching 116,628 units in July, 127,188 units in August, and 128,545 units in September. October 2023 saw a further increase to 140,348 units, followed by 154,056 units in November and 141,878 units in December. The trend continued into 2024, with January recording 144,397 units sold and February totaling 141,510 units. March 2024 marked a significant milestone as EV sales peaked at an all-time high of 212,502 units. However, there was a slight decrease in April 2024, with sales totaling 114,910 units, ending the twelve-month period on a slightly lower note compared to the preceding month.

Fuel wise 2-Wheeler Sales Trend, Apr 2023 – Apr 2024

The penetration percentage of electric vehicles (EVs) in the two-wheeler (2W) category declined from 9.1% in March 2024 to 4% in April 2024.

High Speed E-2Wheeler Sales Trend by OEM

Source: Vahan Dashboard. Data as per 1360 out of 1503 RTOs across 34 out of 36 state/UTs

Note: Low speed Electric 2 Wheelers data is not included

Top players for the month are OLA Electric, TVS Motors and Bajaj Auto. Greaves Electric Mobility and Ather Energy registered strong Y-o-Y decline.

Fuel-wise 3W Passenger L5 Sales Trend

E-3W Passenger L5 Sales Trend by OEM

The top 3 brands for April 2024 regarding the number of electric passenger 3Ws registered are Mahindra Last Mile Mobility Ltd, Bajaj Auto and Piaggio Vehicles.

Fuel wise 3W Goods L5 Sales Trend

E-3W Goods L5 Sales Trend by OEM

In April 2024, the electric three wheeler goods sales were led by Mahindra Last Mile Mobility, OMEGA Seiki and E Royce Motors.

E-rickshaw Sales Trend by OEM

In April 2024, the e-rickshaw sales were led by YC Electric, SAERA Electric and Dilli Electric.

E-cart Sales Trend by OEM

Source: Vahan Dashboard. Data as per 1360 out of 1503 RTOs across 34 out of 36 state/UTs.

In April 2024, the e-cart sales were led by YC Electric Vehicle and Dilli Electric.

OEM wise E-4W Sales, April 2024

Others include Audi, Porsche, JLR etc.

Source: Vahan Dashboard. Data as per 1360 out of 1503 RTOs across 34 out of 36 state/UTs.

Tata Motors is the clear leader, with over 67% of the market share, followed by MG Motors and Mahindra & Mahindra.

OEM wise Electric Bus Sales, April 2024

Source: Vahan Dashboard. Data as per 1360 out of 1503 RTOs across 34 out of 36 state/UTs.

Tata Motors sold the most electric buses in April 2024, followed by Olectra Greentech and JBM Auto.

For deeper insights into India’s EV sales trends (including Telangana data) – Segment-wise, OEM-wise, city- and state-wise- check out the EVreporter Data Portal here and subscribe.

Also Read: India’s electric vehicle sales trend | March 2024