India’s Electric Vehicle Sales Trend | July 2023

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Category-wise Electric Vehicle sales Jul 2023

In July 2023, India registered 1,15,836 EV sales as per Vahan data from 1352 out of 1438 RTOs across 34 out of 36 states/UTs (Telangana data not included). Electric two-wheelers (E2W) sales increased from 45,993 units last month to 54,272 units in July, while electric three-wheelers for passengers (E3W passenger) rose from 42,941 units to 48,240 units during the same period. Electric three-wheelers for cargo (E3W Cargo) sales grew from 5,087 units in June 2023 to 5,496 units in July. Electric four-wheelers (E4W) experienced a slight decline, with 7,471 units sold in July 2023 compared to 7,916 units in June.

Total Registered EV Sales – Jul 2023 – 1,15,836 I Jun 2023 – 1,02,362

Category wise-Sales Trend from Jul 2022 to Jul 2023

A total of 13,66,780 EVs were sold during the last 12-month period from Aug 2022 to Jul 2023. The sales figures for July 2022 started at 80,877 units and steadily increased month over month, reaching a peak of 158,300 units in May 2023. Despite a dip in June 2023 with 102,362 units sold on account of a decrease in subsidies, the sales gained again in July 2023, totalling 115,836 units.

Fuel wise 2W Sales Trend Jan 2023 – Jul 2023

The sales percentage for EVs in the 2W category was 4.42% in July 2023, up from 3.5% in June 2023.

High-Speed E-2W Sales Trend by OEM

Ola Electric leads the chart achieving an impressive YoY growth with sales surging from 3,865 units in July 2022 to 19,256 units in July 2023. Other top players for the month included TVS Motors, Ather Energy, Bajaj Auto, and Okinawa Autotech.

3W Passenger Sales Trend by Fuel Type Jan 2023 – Jul 2023

Electric 3W Passenger vehicles with L3M Electric fuel type experienced consistent growth, reaching 43,491 units in July 2023 from 29,908 units in January 2023. The sales for L5 electric passenger vehicles also showed a positive trend, with 4,749 unit sales in July 2023 as compared to 1,275 vehicles 6 months ago. CNG-only 3W Passenger vehicles also showed steady growth, increasing from 20,690 units in January to 26,710 units in July 2023. During this 6 month period, Diesel-powered 3W Passenger vehicles peaked at 6,954 units in March 2023 but declined to 3,830 units in July 2023.

E-3W Passenger Sales Trend by OEM

The top 5 brands for Jul 2023 in terms of the number of electric passenger 3Ws registered are Mahindra & Mahindra, YC Electric, Saera Electric, Dilli Electric, and Piaggio Vehicles.

3W Cargo Sales Trend by Fuel Type Jan 2023 – Jul 2023

The EV penetration in cargo 3W segment has been increasing with time, reaching 47% in Jul 2023 as compared to 34% in Jan 2023.

E-3W Cargo Sales Trend by OEM

OEM wise E- 4Wheeler Sales Jul 2023

Others include JLR, Porsche, Audi etc. | Source: Vahan Dashboard. Data as per 1352 out of 1438 RTOs across 34 out of 36 state/UTs.

Tata Motors is the clear leader, with more than 70% of the market share, followed by MG Motor and Mahindra & Mahindra.

OEM wise Electric Bus Sales Jul 2023

For deeper insights into India EV sales trends – segment-wise, OEM-wise and region-wise, check out the EVreporter Data Portal here and subscribe today at an introductory price.