India’s Electric Vehicle Sales Trend | August 2023

Category-wise Electric Vehicle sales, Aug 2023

Total Registered Electric Vehicle Sales – Aug’23 – 1,26,466 I Jul ’23 – 1,16,295

In August 2023, the electric vehicle (EV) market showed growth compared to July 2023, with a total of 126,466 registered EV sales as per Vahan portal, up from 116,295 the previous month. Electric two-wheelers sales rose from 54,508 units in July to 62,455 units in August. Electric three-wheelers, both passenger and cargo, also experienced growth, reaching 51,095 and 5,651 units, respectively, in August. However, electric four-wheelers (E 4W) declined slightly from 7,704 units in July to 6,727 units in August. Electric buses (E Bus) saw an uptick, with 250 units sold in August, compared to 135 in July 2023.

Category wise-Sales Trend from Aug 2022 to Aug 2023

Source: Vahan Dashboard. Data as per 1353 out of 1439 RTOs across 34 out of 36 state/UTs

A total of 14,04,875 EVs were sold during the last 12-month period from September 2022 to August 2023. The sales figure for August 2022 started at 89,007 units and steadily increased month over month, reaching a peak of 158,369 units in May 2023. Despite a dip in June 2023 with 102,429 units sold on account of a decrease in subsidies, the sales gained again in July 2023, and afterwards.

Fuel wise 2-Wheeler Sales Trend

The sales percentage for EVs in the 2W category was 4.98% in August 2023, up from 4.43% in July 2023.

High Speed E – 2Wheeler Sales Trend by OEM

Source: Vahan Dashboard. Data as per 1353 out of 1439 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 Motor and Bajaj Auto. BGAUSS Auto leads the chart in YoY growth, with sales surging from 130 units in August 2022 to 922 units in Aug 2023. Hero Electric and Okinawa continue to decline.

Fuel wise 3-Wheeler Passenger Sales Trend

E – 3Wheeler Passenger Sales Trend by OEM

Source: Vahan Dashboard. Data as per 1353 out of 1439 RTOs across 34 out of 36 state/UTs.

The top 3 brands for Aug 2023 in terms of the number of electric passenger 3Ws registered are Mahindra & Mahindra, YC Electric, Saera Electric.

Fuel wise 3-Wheeler Cargo Sales Trend

The EV penetration in the cargo 3W segment has been increasing with time, reaching 46% in Aug 2023 as compared to 34% in Jan 2023.

E – 3Wheeler Cargo Sales Trend by OEM

Source: Vahan Dashboard. Data as per 1353 out of 1439 RTOs across 34 out of 36 state/UTs.

In August 2023, the electric three-wheeler cargo sales were led by Mahindra & Mahindra and Altigreen Propulsion Labs.

Manufacturer-wise Electric 4 Wheeler Sales performance

Others include JLR, Porsche, Volvo, etc.

Tata Motors is the clear leader, with more than 68% of the market share, followed by MG Motor and Mahindra & Mahindra.

Manufacturer-wise Electric Bus Sales performance

Source: Vahan Dashboard. Data as per 1353 out of 1439 RTOs across 34 out of 36 state/UTs.

Tata Motors is the clear leader again in this category, with more than 40% of the market share, followed by VE Commercial Vehicles and PMI Electro Mobility.

For deeper insights into India EV sales trends (including Telangana data) – segment-wise, OEM-wise, city and state-wise, check out the EVreporter Data Portal here and subscribe today at an introductory price.

Also Read: India’s Electric Vehicle Sales Trend | July 2023