EV Sales Trend in India | Q2 FY 2022-23 (Jul-Sep 2022)

EV sales – JULY 2021 to SEP 2022 | Trend from last 5 quarters – Q2 FY 21-22 to Q4 FY 21-22 and Q1 FY 22-23 to Q2 FY 22-23
  • The total number of Electric vehicles sold from Q3 FY 21-22 to Q2 FY 22-23 (last 4 quarters) in India comes out to be 8,32,360 units.
  • EV sales registered a Y-o-Y growth rate of 188% between the second quarter of FY 21-22 (95,425 units) and the second quarter of FY 22-23 (2,74,705 units).
Source: Vahan Dashboard, Telangana Transport portal and Tata Motors Official sales data. Vahan Data as per 1402 out of 1612 RTOs across 33 out of 37 state/UTs. Low-speed 2W data not included.
Category wise EV sales in Q2 FY 22-23 (JULY 2022 to SEP 2022)
Source: Vahan Dashboard, Telangana Transport portal and Tata Motors Official sales data. Vahan Data as per 1402 out of 1612 RTOs across 33 out of 37 state/UTs. Low-speed 2W data not included.
  • Electric vehicle sales are dominated by 2-Wheelers and 3-Wheelers, with a combined volume share of almost 92% for Q2 FY 22-23.
  • Electric 2-Wheeler sales for Q2 FY 22-23 witnessed a Q-o-Q growth of 16% with 1,62,215 units sold, whereas the Electric 3-Wheeler sales registered a Q-o-Q growth of 41% with 89,726 units.
  • For 3-Wheelers, L3 Category EVs dominate compared to high-spec L5 Category.
  • The trend for Electric 4-Wheelers has seen an increase in the number of units sold, but the category-wise share remains the same i.e. 5%.
Electric Vehicles Region Wise Sales Trend
Source: Vahan Dashboard, Telangana Transport. Data as per 1402 out of 1612 RTOs across 33 out of 37 state/UTs and Telangana Regional Transport open data. Low-speed 2W data not included.
Category-wise Trend in Top 10 Indian States for Q2 FY 22-23
Source: Vahan Dashboard, Telangana Transport. Data as per 1402 out of 1612 RTOs across 33 out of 37 state/UTs and Telangana Regional Transport open data. Low-speed 2W data not included.
  • Uttar Pradesh has the highest share (17.23%) of electric vehicles sold, with 47,334 units in Q2 FY 22-23. Of the total EVs sold in Uttar Pradesh, 84% (39,667 units) are low-speed L3M category or e-rickshaw category.
  • E-2Wheeler sales are maximum for the states of Maharashtra, Karnataka, Gujarat, Tamil Nadu and Telangana, with a combined share of 59% in the high-speed 2-Wheeler category and sales of more than 10,000 units each for Q2 FY 22-23.
  • Uttar Pradesh, Assam and Bihar have the maximum sales in the 3-Wheeler category with an approximate sales share of 45%, 15% and 11%, respectively.
  • Maharashtra has the highest sales of E-4W with 3,030 units (23%) for Q2 FY 22-23, followed by  Telangana and Delhi with 1,478 (11%) and 1,345 (10%) units sold, respectively.
  • Delhi and Maharashtra have seen a decline in the sales of e-bus as compared to the last quarter. Karnataka and Uttar Pradesh have the highest e-Bus sales, with 181 and 133 units sold, respectively for Q2 FY 22-23.
Electric Vehicles OEM-Wise Sales Trend
Electric 2-Wheeler sales Q-o-Q performance comparison for top 10 OEMs
Source: Vahan Dashboard. Data as per 1402 out of 1612 RTOs across 33 state/UTs. Low-speed 2W data not included.
  • For the high-speed E-2Wheeler segment, there are 80 OEMs listed on the Vahan portal as of Sep 2022. The cumulative sales of the top five OEMs in Q2 FY 22-23 account for 71% (1,02,786 units) of the overall sales.
  • The overall E-2Wheeler sales witnessed sales of 1,62,215 units in Q2 FY 22-23 compared to the last Q1 FY 21-22 of 1,39,605 units.
  • Hero Electric dominates the market with a 19% share (27,456 units) and increased its sales by 72.30% in Q2 FY 22-23, followed by Okinawa Autotech with a 17% market share (24,937 units sold) but a decline of 8.65% over the last quarter.
  • Ola Electric registered a decline of 39.2% in sales in FY Q2 22-23 as compared to last quarter, where Ola Electric sales were the highest.
Electric 3-Wheeler Passenger (L3M + L5M) sales Q-o-Q performance comparison for top 10 OEMs
Source: Vahan Dashboard. Data as per 1402 out of 1612 RTOs across 33 state/UTs.
  • For the E-3Wheeler segment, the list of manufacturers is vast, with around 242 OEMs for the cargo segment and 377 OEMs for the passenger segment. The majority of these OEMs produce only Low-speed L3 category vehicles, and only a few OEMs make good High-speed L5 category cargo and passenger models.
  • With all Electric 3-Wheeler sales, the passenger segment sold 89,726 units in Q2 FY 2022-23.
  • The top 10 OEM manufacturers in the passenger segment contribute only 42% of the total sales, with major players like Mahindra & Mahindra, YC Electric, Saera Electric and Champion Polyplast.
Electric 3-Wheeler cargo (L3N + L5N) sales Q-o-Q performance comparison for top 10 OEMs
Source: Vahan Dashboard. Data as per 1402 out of 1612 RTOs across 33 state/UTs.
  • The cargo segment sold only 4,992 units and 3,989 units for L3N and L5N category vehicles, respectively.
  • We observed a Q-o-Q 2% decrease in sales for the L3N category and a 1% decrease in sales for the L5N category.
  • 98,707 units of 3-Wheelers were registered in the Vahan portal for Q2 FY 22-23, and the majority of the sales share is dominated by the Passenger category with 89,726 units (91%) and whereas 8,981 units were sold for Cargo category models.
  • The top 10 OEM manufacturers in the Cargo segment contribute only 57% of the total market share, with major players like Mahindra Electric, Piaggio Vehicles, E-Royce Motors, Omega Seiki and Dilli electric. E-Royce registered a decline of 26.86% as compared to the last quarter.
Electric 4-Wheeler sales Q-o-Q performance comparison for top OEMs
Source: Vahan Dashboard, Company official release. Vahan Data as per 1402 out of 1612 RTOs across 33 state/UTs.
  • Tata Motors continues to dominate the E-4Wheeler market with 11,522 units (88%) sold for the Q2 FY 22-23 and has a Q-o-Q growth rate of 24.12%.
  • Mahindra Electric registered the sharpest Q-o-Q growth of 278%.
  • Tata Motors, Audi, Mahindra Electric and other OEMs have launched their new models recently, and with the upcoming 4-Wheeler models launching in India, the demand and sales for electric cars are expected to go higher.
Electric bus sales Q-o-Q performance comparison for top OEMs
Source: Vahan Dashboard, Company official release. Vahan Data as per 1402 out of 1612 RTOs across 33 state/UTs.
Excerpt from EVReporter Quarterly Report Q2 FY 2022-23.
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