India’s Electric Vehicle Sales Trend | March 2023
Category-Wise Electric Vehicle Sales, March 2023
Total Registered Electric Vehicle Sales – March’ 23 – 1,40,037 I Feb’ 23 – 1,06,964
Low speed 2Ws not included.
E-2W and E-3W (Cargo & Passenger) vehicles accounted for 1,31,080 of the total 1,40,037 electric vehicles sold in March 2023.
Category-Wise Sales Trend from March 2022 to March 2023
Low speed 2Ws not included.
- In March 2023, 85,850 high speed e-2Ws were sold, compared to 54,400 units sold in March 2022. Sales of the Electric 3W Passenger Vehicle (L3+L5) reached 39,450 units, an 83 per cent increase over the same month last year.
- Sales of Electric 3W Cargo Vehicles increased from 3,312 units in March 2022 to 5,780 units in March 2023, while the sales of e-4W rose from 3,718 units to 8,591 units over the last year.
EV Penetration in 2W Sales from March-22 to March-23
Low speed 2Ws not included.
In March 2023, electric vehicles made up 5.99% of the total 2Ws sold across India, up from 4.23% in March 2022.
High Speed E-2Ws Sales trend by OEM
Low speed 2Ws not included.
OLA Electric sold the highest number of e-2Ws in March 2023 followed by TVS Motors and Ather Energy. OLA Electric registered a 132.99% Y-o-Y increase in sales of their electric scooter. Hero MotoCorp sold 298 e-scooters during this month and Revolt Intellicorp sold 1,132 electric bikes this month.
3-Wheeler Passenger Sales Trend by Fuel Type, Mar’22 – Mar’23
In March 2023, 54% of the total 3W Passenger Vehicles (L3+L5) sold were electric, up from 52% 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 are the top 3 sellers of March 2023.
3-Wheeler Cargo Sales Trend by Fuel Type, Mar’22 – Mar’23
For the Goods 3W segment, the EV penetration (L3+L5) rose from 32% in March 2022 to 42% in March 2023.
Electric-3W Cargo Sales Trend by OEM
Both L3 and L5 Electric 3Wheelers are included in the analysis. Mahindra & Mahindra, Omega Seiki and Piaggio Vehicles are the top 3 sellers of March 2023.
E-4W Sales Trend by OEM
Source: Vahan Dashboard. Data as per 1350 out of 1436 RTOs across 34 out of 36 state/UTs.
For electric-4Wheeler segment, TATA Motors remained the undisputed leader with 7,150 EV Sales and a market share of 83.23% in Mar 2023.
E-Bus Sales Trend by OEM
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