India’s Electric Vehicle sales trend | August 2024

Category-wise Electric Vehicle sales, Aug 2024 | India

Total Registered Electric Vehicle Sales – Aug’24 – 1,56,227 I Jul’24 – 1,79,889

In August 2024, India’s electric vehicle (EV) market showed varied performance across different categories. Electric two-wheelers (E2W) saw a decline to 88,472 units from 107,475 in July. E-rickshaw sales remained relatively stable at 44,336 units, while E3W L5 Passenger vehicles decreased to 10,227 units from 11,431. The E-cart segment dropped to 4,392 units, and E3W L5 Cargo/Goods vehicles declined to 1,788 units. Electric four-wheeler (E4W) sales also fell to 6,336 units, and E-bus sales halved to 243 units.

EV Sales Trend from Aug 2023 to Aug 2024

17,97,523 EVs sold in last 12 months from Sep 2023 to Aug 2024

Source: Vahan Dashboard. Data as per 1365 out of 1429 RTOs across 35 out of 36 state/UTs. Telangana Data not included. Low speed e-2W sales data not included.

EV Sales were 128,555 units in September 2023 and steadily increased, peaking at 213,047 units in March 2024. Despite a dip to 115,872 units in April, sales rebounded to 140,612 units in May and 140,057 units in June. July 2024 saw a remarkable surge to 179,039 units, while August recorded 156,227 units, indicating a decline.

Fuel wise 2-Wheeler Sales Trend, Aug 2023 – Aug 2024

The penetration percentage of electric vehicles (EVs) in the two-wheeler (2W) category declined from 7.4% in July 2024 to 6.6% in Aug 2024.

High Speed E-2Wheeler Sales Trend by OEM

Source: Vahan Dashboard. Data as per 1365 out of 1429 RTOs across 35 out of 36 state/UTs

Note: Low speed Electric 2 Wheelers data is not included

Top players for the month are OLA Electric, TVS Motors and Bajaj Auto, all three registering M-o-M declines. Greaves Electric registered a strong Y-o-Y decline.

Fuel-wise 3W Passenger L5 Sales Trend

E-3W Passenger L5 Sales Trend by OEM

Source: Vahan Dashboard. Data as per 1365 out of 1429 RTOs across 35 out of 36 state/UTs

The top 3 brands for Aug 2024 regarding the number of electric passenger 3Ws registered are Mahindra Last Mile Mobility Ltd, Bajaj Auto and Piaggio Vehicles.

Fuel wise 3W Goods L5 Sales Trend

E-3W Goods L5 Sales Trend by OEM

Source: Vahan Dashboard. Data as per 1365 out of 1429 RTOs across 35 out of 36 state/UTs

In Aug 2024, Mahindra Last Mile Mobility, Bajaj Auto and OMEGA Seiki led the electric three-wheeler goods sales sales.

E-rickshaw Sales Trend by OEM

In Aug 2024, the e-rickshaw sales were led by YC Electric, SAERA Electric and Dilli Electric.

E-cart Sales Trend by OEM

Source: Vahan Dashboard. Data as per 1365 out of 1429 RTOs across 35 out of 36 state/UTs

In Aug 2024, the e-cart sales were led by Dilli Electric and YC Electric Vehicle.

OEM wise E-4W Sales, Aug 2024

Others include Kia, Porsche, JLR etc.

Source: Vahan Dashboard. Data as per 1365 out of 1429 RTOs across 35 out of 36 state/UTs

Tata Motors is the clear leader, with over 64% of the market share, followed by MG Motors and Mahindra & Mahindra.

OEM wise Electric Bus Sales, Aug 2024

Source: Vahan Dashboard. Data as per 1365 out of 1429 RTOs across 35 out of 36 state/UTs

Tata Motors sold the most electric buses in Aug 2024, followed by Olectra Greentech and PMI Electro Mobility.

For deeper insights into India’s EV sales trends (including Telangana data) – Segment-wise, OEM-wise, city-wise, RTO-wise and state-wise – check out the EVreporter Data Portal here and subscribe.

Also Read: India’s electric vehicle sales trend | July 2024