India’s Electric Vehicle sales trend | November 2024

Category-wise Electric Vehicle sales, Nov 2024 | India

Total Registered Electric Vehicle Sales – Nov’24 – 1,91,554 I Oct’24 – 2,19,021

India’s electric vehicle (EV) sales in November 2024 showed a month-on-month decline in most categories compared to October 2024, as per Vahan Dashboard data. Electric Two-Wheelers (E2W) declined by 14.9% to 118,944 units, and E-Rickshaws fell by 8.2% to 40,386 units. Electric Three-Wheelers (L5 Passenger) was the only category to record growth, rising by 3.9% to 15,355 units, while E-Carts dropped by 7.9% to 5,423 units, and Electric Three-Wheelers (L5 Cargo/Goods) decreased by 11.2% to 2,251 units. Electric Four-Wheelers (E4W) saw a significant decline of 22.9% to 8,613 units, and Electric Buses dropped sharply by 59.5% to 161 units.

Category wise-Sales Trend from Nov 2023 to Nov 2024

19,46,896 EVs sold in last 12 months from Dec 2023 to Nov 2024

Source: Vahan Dashboard. Data as per 1369 out of 1431 RTOs across 35 out of 36 state/UTs. Telangana Data not included. Low speed e-2W sales data not included.

According to Vahan Dashboard data covering 1,369 of 1,431 RTOs across 35 states and UTs (excluding Telangana and low-speed e-2Ws), EV sales stood at at 141,957 units in December 2023 and peaked at 213,064 units in March 2024. A dip followed in April, with sales falling to 115,897 units, but demand rebounded steadily, reaching a record high of 219,021 units in October 2024 before dipping to 191,554 in November 2024.

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

The penetration percentage of electric vehicles (EVs) in the two-wheeler (2W) category declined from 6.8% in Oct 2024 to 4.6% in Nov 2024.

High Speed E-2Wheeler Sales Trend by OEM

Source: Vahan Dashboard. Data as per 1369 out of 1431 RTOs across 35 out of 36 state/UTs. Low speed Electric 2W data is not included

Top players for the month are OLA Electric, TVS Motors and Bajaj Auto, with legacy players closing in for the top spot.

Fuel-wise 3W Passenger L5 Sales Trend

E-3W Passenger L5 Sales Trend by OEM

Source: Vahan Dashboard. Data as per 1369 out of 1431 RTOs across 35 out of 36 state/UTs

The top brands for November 2024 regarding the number of electric passenger 3Ws registered are Mahindra Last Mile Mobility and Bajaj Auto while Piaggio Vehicles was a distant third.

Fuel wise 3W Goods L5 Sales Trend

E-3W Goods L5 Sales Trend by OEM

Source: Vahan Dashboard. Data as per 1369 out of 1431RTOs across 35 out of 36 state/UTs

In November 2024, the electric three-wheeler goods sales were led by Bajaj Auto, Mahindra Last Mile Mobility and Euler Motors.

E-rickshaw Sales Trend by OEM

In November 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 1369 out of 1431 RTOs across 35 out of 36 state/UTs

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

OEM wise E-4W Sales, Nov 2024

Others include Porsche, Rolls- Royce, JLR etc.

Source: Vahan Dashboard. Data as per 1369 out of 1431 RTOs across 35 out of 36 state/UTs

Tata Motors led the chart with over 48% of the market share, followed by MG Motors and Mahindra & Mahindra.

OEM wise Electric Bus Sales, Nov 2024

Source: Vahan Dashboard. Data as per 1369 out of 1431 RTOs across 35 out of 36 state/UTs

Tata Motors sold the most electric buses in November 2024, followed by Olectra Greentech and Aeroeagle Automobiles.

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 | October 2024