New Delhi, August 7: According to data released by the Federation of Automobile Dealers Associations (FADA) on Friday, retail sales of electric vehicles in July soared to a record high of 327,901 units, marking an impressive year-on-year growth of over 66%.
This surge indicates that nearly one in every eight vehicles sold in the country during the month was electric, reflecting a growing acceptance among consumers in this sector.
Electric two-wheelers led the charge, surpassing the 200,000-unit mark for the first time. Their retail sales jumped by 88.3% year-on-year to reach 204,362 units, while their market share increased from 7.7% a year ago to 11.2%.
TVS Motor maintained its top position in this segment with sales of 55,499 units, followed by Bajaj Auto with 45,613 units and Ather Energy with 30,357 units. Ola Electric sold 14,106 units during the month.
Meanwhile, electric three-wheelers also solidified their strong position, with sales rising by 25.3% year-on-year to 87,055 units. The market share of electric three-wheelers increased to 65.1%, indicating that electric mobility has become the preferred choice in this category.
Mahindra Group led the electric three-wheeler market with sales of 14,191 units, followed by Bajaj Auto with 13,442 units.
In the passenger vehicle segment, retail sales of electric vehicles surged by 83.1% year-on-year to 32,928 units. Their market share rose from 5% in July last year to approximately 8%. Tata Motors remained the leader in the electric passenger vehicle market with sales of 13,678 units, followed by Mahindra & Mahindra with 7,742 units and JSW MG Motor India with 5,689 units.
Additionally, electric commercial vehicles recorded one of the highest growth rates, with retail sales increasing by around 181% year-on-year to 3,556 units. Their market share more than doubled from 1.65% a year ago to 3.57%. Tata Motors led this sector with sales of 1,306 units.
FADA Vice President Sai Giridhar commented that the figures indicate that the adoption of electric vehicles is no longer a future prediction but a current market reality.
He stated, “Two-wheelers have crossed the 200,000 mark for the first time, electric vehicles have become the default choice in three-wheelers, commercial vehicles are undergoing fleet electrification, and demand for passenger electric vehicles remains strong despite supply chain challenges.”
According to FADA, the broad-based growth across all vehicle categories reflects the rapid shift towards electric mobility in India.
Leave a Comment