India’s Electric Vehicle sales trend | November 2023

Category-wise Electric Vehicle sales, Nov 2023 | India

Total Registered Electric Vehicle Sales – Nov’23 – 1,52,610 I Oct’23 – 1,39,812

In November 2023, India witnessed a significant surge in electric vehicle (EV) sales, totalling 1,52,610 units compared to the previous month’s figure of 1,39,812 units. The electric two-wheeler (E2W) category experienced substantial growth, with sales increasing from 74,942 in October to 91,243 in November. E3W L3 Passenger sales declined from 45,689 to 41,670, whereas E3W L5 Passenger sales saw a modest increase from 6,044 to 7,063. Cargo variants showed a marginal rise in both E3W L3 Cargo (3,022 to 3,201) and E3W L5 Cargo (2,083 to 1,832) categories. Electric four-wheelers (E4W) experienced a slight dip in sales, decreasing from 7,437 to 7,042 units. Electric buses (E Bus) and other categories also contributed to the overall sales figures, with E Bus sales rising from 229 to 252. These numbers highlight the growing adoption of electric vehicles in India, with particular prominence in the two-wheeler and three-wheeler segments, signaling a positive shift towards sustainable and eco-friendly mobility options in the country.

Category wise-Sales Trend from Nov 2022 to Nov 2023

14,92,620 EVs sold in the last 12 months from Dec 2022 to Nov 2023

P – Passenger | C – Cargo Source: Vahan Dashboard. Data as per 1355 out of 1442 RTOs across 34 out of 36 state/UTs

A total of 14,92,620 EVs were sold during the last 12-month period from Dec 2022 to Nov 2023. The sales figure for November 2022 started at 1,21,598 units and steadily increased month over month, reaching a peak of 1,58,420 units in May 2023. Despite a dip in June 2023, with 1,02,533 units sold due to a decrease in subsidies, the sales gained again July 2023 onwards.

Fuel wise 2-Wheeler Sales Trend, Jan 2023 – Nov 2023

The EV penetration percentage for EVs in the 2W category decreased from 4.96% in Oct 2023 to 4.06% in Nov 2023.

High-Speed E-2Wheeler Sales Trend by OEM

Source: Vahan Dashboard. Data as per 1355 out of 1442 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. Okinawa Autotech and Greaves Electric Mobility 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 1355 out of 1442 RTOs across 34 out of 36 state/UTs.

The top 3 brands for November 2023 regarding the number of electric passenger 3Ws registered are Mahindra & Mahindra, Piaggio Vehicles and Bajaj Auto.

Fuel wise 3W Cargo L5 Sales Trend

E-3W Cargo L5 Sales Trend by OEM

Source: Vahan Dashboard. Data as per 1355 out of 1442 RTOs across 34 out of 36 state/UTs.

In Nov 2023, the electric three wheeler cargo sales were led by Mahindra & Mahindra, Piaggio Vehicles and Euler Motors.

E-3W Passenger (Low-speed) Sales Trend by OEM

In November 2023, the electric three wheeler passenger L3 (Low speed) sales were led by YC Electric, SAERA Electric and Dilli Electric.

E-3W Cargo (Low-speed) Sales Trend by OEM

Source: Vahan Dashboard. Data as per 1355 out of 1442 RTOs across 34 out of 36 state/UTs.

In November 2023, the electric three wheeler cargo L3 (Low speed) sales were led by Dilli Electric and YC Electric.

OEM wise E-4W Sales, Nov2023

Others include Audi, Porsche, KUN Motors, etc.

Source: Vahan Dashboard. Data as per 1355 out of 1442 RTOs across 34 out of 36 state/UTs.

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

OEM wise Electric Bus Sales, Nov 2023

Source: Vahan Dashboard. Data as per 1355 out of 1442 RTOs across 34 out of 36 state/UTs.

Tata Motors sold the most electric buses in November 2023, followed by Olectra Greentech 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 | October 2023