India’s Electric Vehicle sales trend | October 2024

Category-wise Electric Vehicle sales, Oct 2024 | India

Total Registered Electric Vehicle Sales – Oct’24 – 2,17,716 I Sept’24 – 1,60,237

In October 2024, India’s EV sales surged across categories, led by electric two-wheelers (E2W), which grew from 90,372 units in September to 139,097. Electric three-wheelers (E3W) saw an increase, with passenger models reaching 14,776 units and cargo models 2,533. Electric rickshaw sales slightly declined from 44,025 in September to 43,969 in October, while e-carts grew from 4,571 to 5,892 units. Electric four-wheelers (E4W) saw a substantial rise from 6,097 to 10,561 units, and electric buses increased from 388 to 398 units.

Category wise-Sales Trend from Oct 2023 to Oct 2024

19,07,923 EVs sold in last 12 months from Nov 2023 to Oct 2024

Source: Vahan Dashboard. Data as per 1366 out of 1430 RTOs across 35 out of 36 state/UTs. Telangana Data not included. Low speed e-2W sales data not included.

India’s electric vehicle (EV) market saw substantial growth from November 2023 to October 2024, with a total of 1,907,923 units sold, according to Vahan Dashboard data covering 1,366 of 1,430 RTOs across 35 states and UTs (excluding Telangana and low-speed e-2Ws). Sales began at 154,152 units in November 2023 and peaked at 213,063 units in March 2024. A dip followed in April to 115,898 units, but demand rebounded steadily, reaching a record high of 217,716 units in October 2024.

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

The penetration percentage of electric vehicles (EVs) in the two-wheeler (2W) category declined from 7.5% in Sept 2024 to 6.8% in Oct 2024.

High-Speed E-2Wheeler Sales Trend by OEM

Source: Vahan Dashboard. Data as per 1366 out of 1430 RTOs across 35 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. Bajaj registered the strongest Y-o-Y growth.

Fuel-wise 3W Passenger L5 Sales Trend

E-3W Passenger L5 Sales Trend by OEM

Source: Vahan Dashboard. Data as per 1366 out of 1430 RTOs across 35 out of 36 state/UTs

The top 3 brands for October 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 1366 out of 1430 RTOs across 35 out of 36 state/UTs

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

E-rickshaw Sales Trend by OEM

In October 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 1366 out of 1430 RTOs across 35 out of 36 state/UTs

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

OEM wise E-4W Sales, Oct 2024

Others include Skoda, Porsche, JLR etc.

Source: Vahan Dashboard. Data as per 1366 out of 1430 RTOs across 35 out of 36 state/UTs

Tata Motors is the clear leader, with over 58% of the market share, followed by MG Motors and Mahindra & Mahindra.

OEM wise Electric Bus Sales, Oct 2024

Source: Vahan Dashboard. Data as per 1366 out of 1430 RTOs across 35 out of 36 state/UTs

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

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 | September 2024