India’s Electric Vehicle sales trend | October 2023

Category-wise Electric Vehicle sales, Oct 2023 | India

Total Registered Electric Vehicle Sales – Oct’23 – 1,39,232 I Sep’23 – 1,28,257

In October 2023, India witnessed positive trends in electric vehicle (EV) sales across different categories as per Vahan portal. Electric two-wheelers (E2W) saw a significant uptick, with sales surging from 63,969 units in September to 74,623 units. Electric four-wheelers (E4W) also saw growth, with 7,210 units sold in October, compared to 6,289 units in the previous month. Electric three-wheelers (E3W) had varying results within subcategories: Level 5 passenger E3W sales increased to 6,030 units, while Level 3 passenger E3W sales decreased slightly to 45,681 units. Level 3 cargo E3W sales dropped to 3,023 units, and Level 5 cargo E3W sales increased to 2,084 units. On the other hand, electric buses (E Bus) saw a decline in sales, dropping to 229 units from 254 units in September.

Category wise-Sales Trend from Oct 2022 to Oct 2023

14,60,846 EVs sold in last 12 months from Nov 2022 to Oct 2023

P – Passenger | C – Cargo

Source: Vahan Dashboard. Data as per 1354 out of 1441 RTOs across 34 out of 36 state/UTs

A total of 14,60,846 EVs were sold during the last 12 months period from Nov 2022 to Oct 2023. The sales figure for October 2022 started at 1,17,498 units and steadily increased month over month, reaching a peak of 1,58,396 units in May 2023. Despite a dip in June 2023 with 1,02,534 units sold due to a decrease in subsidies, the sales gained again in July 2023, and afterwards.

Fuel wise 2-Wheeler Sales Trend

The sales percentage for EVs in the 2W category showed a slight increase from 4.87% September 2023 to 4.95% in October 2023. This followed a decrease from 4.98% in August.

High Speed E-2Wheeler Sales Trend by OEM

Source: Vahan Dashboard. Data as per 1354 out of 1441 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 1354 out of 1441 RTOs across 34 out of 36 state/UTs.

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

Fuel wise 3W Cargo L5 Sales Trend

E-3W Cargo L5 Sales Trend by OEM

Source: Vahan Dashboard. Data as per 1354 out of 1441 RTOs across 34 out of 36 state/UTs.

In October 2023, the electric three wheeler cargo sales were led by Mahindra & Mahindra, Piaggio Vehicles and Altigreen Propulsion.

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

In October 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 1354 out of 1441 RTOs across 34 out of 36 state/UTs.

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

OEM wise E-4W Sales, Oct 2023

Others include Audi, Porsche, Renault, etc.

Source: Vahan Dashboard. Data as per 1354 out of 1441 RTOs across 34 out of 36 state/UTs.

Tata Motors is the clear leader, with over 74% of the market share, followed by MG Motors and Mahindra & Mahindra.

OEM wise Electric Bus Sales, Oct 2023

Source: Vahan Dashboard. Data as per 1354 out of 1441 RTOs across 34 out of 36 state/UTs.

Tata Motors sold the most number of electric buses in October 2023, followed by Olectra Greentech and Switch Mobility.

For deeper insights into India 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 | September 2023