India’s Electric Vehicle sales trend | May 2024

Category-wise Electric Vehicle sales, May 2024 | India

Total Registered Electric Vehicle Sales – May’24 -1,39,738 I Apr’24 -1,15,596

In May 2024, electric vehicle (EV) sales in India saw an increase across most categories compared to April 2024. Electric Two-Wheelers (E2W) sales rose from 65,364 to 76,848 units, E-rickshaw sales increased from 31,798 to 39,476 units, and E3W L5 Passenger sales surged from 4,274 to 7,479 units. E-carts grew from 4,210 to 5,531 units, and E3W L5 Cargo sales went up from 1,745 to 2,243 units. Electric Four-Wheelers (E4W) experienced a slight decline, from 7,674 to 7,571 units. Electric Buses (E Bus) sales increased marginally from 211 to 220 units, and the ‘Others’ category rose from 320 to 370 units.

Category wise-Sales Trend from May 2023 to May 2024

16,66,172 EVs sold in the last 12 months from June 2023 to May 2024

Source: Vahan Dashboard. Data as per 1360 out of 1503 RTOs across 34 out of 36 state/UTs

From May 2023 to May 2024, India experienced a steady rise in electric vehicle (EV) sales, culminating in a total of 16,66,172 units. The journey began in May 2023 with 158,459 units sold. June 2023 saw a minor dip to 102,641 units due to reduced subsidies, but sales rebounded in July 2023 with 116,625 units. This upward trend continued, with 127,192 units in August and 128,548 units in September. October 2023 saw a further rise to 140,618 units, followed by 154,104 units in November and 141,904 units in December. The momentum carried into 2024, with January recording 144,981 units and February 141,653 units. March 2024 marked a significant milestone with a peak of 212,829 units sold, the highest in the twelve-month period. Although there was a decrease to 115,596 units in April 2024, sales climbed to 139,738 units in May 2024.

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

The penetration percentage of electric vehicles (EVs) in the two-wheeler (2W) category surged from 4% in April 2024 to 5% in May 2024.

High Speed E-2Wheeler Sales Trend by OEM

Source: Vahan Dashboard. Data as per 1360 out of 1503 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 Motors and Bajaj Auto. Greaves Electric Mobility and Ather Energy registered 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 1360 out of 1503 RTOs across 34 out of 36 state/UTs.

The top 3 brands for May 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 1360 out of 1503 RTOs across 34 out of 36 state/UTs.

In May 2024, the electric three wheeler goods sales were led by Mahindra Last Mile Mobility, OMEGA Seiki and Euler Motors.

E-rickshaw Sales Trend by OEM

In May 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 1360 out of 1503 RTOs across 34 out of 36 state/UTs.

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

OEM wise E-4W Sales, May 2024

Others include Audi, Porsche, JLR etc.

Source: Vahan Dashboard. Data as per 1360 out of 1503 RTOs across 34 out of 36 state/UTs.

Tata Motors is the clear leader, with over 66% of the market share, followed by MG Motors and Mahindra & Mahindra.

OEM wise Electric Bus Sales, May 2024

Source: Vahan Dashboard. Data as per 1360 out of 1503 RTOs across 34 out of 36 state/UTs.

PMI Electro Mobility sold the most electric buses in May 2024, followed by Tata Motors and JBM Auto.

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

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