With hikes in the prices of fuel and the swelling consciousness after the pandemic, there is a gradual shift toward electric mobility in the nation, evidenced by the exponential increase in EV Sales in India.
Highlight:
- India witnessed a major growth of 30% in EV sales in 2022 compared to 2021 figures.
- Tata Motors currently leads the electric four-wheeler segment with 80% market domination.
- Total EV sales figure is mainly contributed by the sales of electric two-wheelers in India.
EVs are the hottest trend in India right now as major automotive giants already launched their initial variants of India-specific electric vehicles. The exponential growth in EV Sales in India is aided by several factors like the rise in fuel prices, friendly GOI policies, and subsidies.
Along with the automotive giants, many emerging startups have helped turn the wheel of the EV revolution in India with their state-of-the-art electric vehicles.
Here is an update on the total EV Sales in India during 2021-2022. We have provided a Year to Year (YOY) and Month to Month (MOM) comparison for a better referral.
EV Sales in India 2022-2021 (YOY comparison):
Electric two-wheeler sales in India 2022:
Electric scooters being the hottest trend in India, the electric two-wheeler market witnessed a whopping growth of 149% with 49,607 unit sales in 2022, compared to 10,558 units in 2021.
Hero Electric currently leads the two-wheeler segment at an annual growth of 149% with 13,023 unit sales in 2022. The most trending electric scooter company, Ola Electric sold 9,127 units this year, after commencing the delivery in Dec 2021.
Followed by Okinawa Autotech with 8284 units, and Ampere vehicles with 6338 units in 2022.
Electric Car Sales in India 2022:
Electric car sales in India in the first quarter of 2022 reported a three-fold growth with 3594 units in sales compared to 848 units in FY 2021. Tata Motors currently leads the electric four-wheeler segment by selling 3324 units, followed by MG Motors at 90 unit sales in 2022.
Hyundai and Mahindra have similar sales figures so far at 18 units in 2022 compared to 15 and 5 units respectively in 2021.
Electric Commercial vehicles sales in 2022:
Electric commercial vehicle sales have declined by -5% in 2022 compared to 2021. In spite of that, the total Commercial Electric vehicles sales in India in the month of March 2022 is 105 units whereas JBM Auto is the highest seller of Electric commercial Vehicles with 35 units in sales.
Followed by PMI Electro with 19 units and Olectra Greentech with 18 units. Along with that, JBM Auto sold 35 units in March 2022, whereas in February 2022 it was only 10 units.
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Electric Vehicles Sales India Feb 2022-March 2022 (MOM Comparison):
The year 2022 has been a great year so far for the EV market in India despite the recent recovery from Global Pandemic. Print media and Social media have made a great impact on the general awareness about EVs in India. Let’s have a quick look at the MOM EV sale figures in India.
Electric two-wheeler Sales
With 77% MOM growth, Hero Electric sold 5663 more electric scooter units on March 22 compared to 7360 units in the Month of February 2022.
Currently, Hero electric leads the electric two-wheeler market segment in India with 13023 unit sales in March 2022 compared to February 2022.
Followed by the most trending Ola Electric scooters with 9127 units, with 134 % growth, and Okinawa Autotech with 8284 units with 40% growth compared to February 2022 sales.
Electric Car Sales
In the Electric Passenger Vehicle segment, the top 3 companies are Tata Motors, MG Motor, and BYD India with 3324 units,90 units, and 18 units respectively.
With a 60% MOM growth, Tata Motors is leading the sales figures in the Electric four-wheeler market as of March 2022.
Also, the total sale of Electric cars in the month of March is 3594 units. Furthermore, Tata Motors sold 3324 units of Electric cars in March 2022, whereas in the month of February the company sold 2072 units.
Electric Commercial vehicle Sales
Post the pandemic, commercial EV sales in India have declined by -27%, in March 2022. JBM Auto has managed to sell 35 units of Electric Commercial Vehicle with an overall growth of 250% in the month of March.
Followed by PMI Electro Mobility Solution with 19 units and Olectra Greentech with 18 units. Moreover, the electric commercial vehicle sold by JBM Auto in March 2022 is 35 units, on the other hand, the total sale in February 2022 was 10 units.
The increase in EVsales in India is majorly due to the ever-increasing fuel prices, incentives offered by central and state governments subsidies under FAME I and II, and product availability.
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