India’s Electric Vehicle Sales Trend | May 2023
Category-Wise Electric Vehicle Sales, May 2023
Total Registered Electric Vehicle Sales – May’23 – 1,57,311 I Apr ’23 – 1,10,999
- EV Sales increased this month by 46,312 units as compared to last month, when an overall decrease in EV sales was observed.
- E-2W and E-3W (Cargo & Passenger) vehicles accounted for 1,49,438 of the total 1,57,311 electric vehicles sold in May 2023.
- The 57% Month-on-month rise in e-2W sales can be attributed to the impending reduction in purchase subsidies from June 2023.
Category-Wise Sales Trend from May 2022 to May 2023
- In May 2023, 1,04,829 high speed e-2Ws were sold, compared to 42,415 units sold in May 2022. Sales of the Electric 3W Passenger Vehicle (L3+L5) reached 39,437 units, an 82 per cent increase over the same month last year.
- Sales of Electric 3W Cargo Vehicles increased from 2,673 units in May 2022 to 5,172 units in May 2023, while the sales of e-4W rose from 2,959 units to 7,414 units over the last year.
EV Penetration in 2W Sales from May-22 to May-23
Note: Low speed Electric 2 Wheelers data is not included
In May 2023, electric vehicles made up 7.14% of the total 2Ws sold across India, up from 3.11% in May 2022.
High Speed E-2Ws Sales trend by OEM
Note: Low speed Electric 2 Wheelers data is not included
OLA Electric continues to be top seller of e-2Ws in May 2023 also, followed by TVS Motors and Ather Energy. OLA Electric registered a 207% Y-o-Y increase in sales of their electric scooter. Hero Electric sold 2,109 e-scooters during this month and has seen a decline of 29% in Y-o-Y growth.
Top 30 Electric-2Wheelers Sellers in India | May 2023
3-Wheeler Passenger Sales Trend by Fuel Type, May’22 – May’23
In May 2023, 58% of the total 3W Passenger Vehicles (L3+L5) sold were electric, down from 60% in the same month last year.
Electric-3W Passenger Sales Trend by OEM
Both L3 and L5 Electric 3-Wheelers are included in the analysis. Mahindra & Mahindra, YC Electric Vehicle and Saera Electric continues to be top 3 sellers in the country during this month also.
3-Wheeler Cargo Sales Trend by Fuel Type, May’22 – May’23
For the Goods 3W segment, the EV penetration (L3+L5) rose from 33% in May 2022 to 46% in May 2023.
Electric-3W Cargo Sales Trend by OEM
Source: Vahan Dashboard. Data as per 1350 out of 1436 RTOs across 34 out of 36 state/UTs. The aim of these graphs is to represent an overall trend of the new EV registrations in India.
Both L3 and L5 Electric 3Wheelers are included in the analysis. Mahindra & Mahindra, Piaggio Vehicles and Dilli Electric continues to be top 3 sellers of May 2023.
E-4W Sales Trend by OEM
For the electric-4Wheeler segment, TATA Motors remained the undisputed leader with 5,815 EV Sales and a market share of 78.4% in May 2023.
E-Bus Sales Trend by OEM
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Very informative contents