India’s Electric Vehicles Sales Trend | Feb 2023

March 5, 2023 EV Sales 4 min read

Category-Wise Electric Vehicle Sales, Feb 2023

Total Registered Electric Vehicle Sales – Feb’23 – 1,06,107 I Jan ’23 – 1,01,053

*Source: Vahan Dashboard. Low speed e-2Ws not included.*

E-2W and E-3W (Cargo & Passenger) vehicles accounted for 1,01,369 of the total 1,06,107 electric vehicles sold in Feb 2023, i.e. 95.5% of total EV sales in India.

Category-Wise Sales Trend from Feb 2022 to Feb 2023

*Source: Vahan Dashboard. Data as per 1348 out of 1434 RTOs across 34 out of 36 state/UTs*
*Low speed 2Ws not included.*

In Feb 2023, 65,702 high-speed e-2Ws were sold, compared to 35,709 units sold in Feb 2022. Sales of the Electric 3W Passenger Vehicle (L3+L5) reached 31,858 units, a 92% increase over the same month last year.

Sales of Electric 3W Cargo Vehicles increased from 2,518 units in Feb 2022 to 3,709 units in Feb 2023, while the sales of e-4W rose from 2,448 units to 4,556 units over the last year.

EV Penetration in 2W Sales from Feb 22 to Feb 23

In Feb 2023, electric vehicles made up 5.19% of the total 2Ws sold across India, up from 3.23% in Feb 2022.

High Speed E-2Ws Sales trend by OEM

*Source: Vahan Dashboard. Data as per 1348 out of 1434 RTOs across 34 out of 36 state/UTs*
*Note: Low speed Electric 2 Wheelers data is not included*

OLA Electric sold the highest number of e-2Ws in Feb 2023, followed by TVS Motors and Ather Energy. The top 4 order remain the same as last month.

3-Wheeler Passenger Sales Trend by Fuel Type, Feb 22 – Feb 23

*Source: Vahan Dashboard. Data as per 1348 out of 1434 RTOs across 34 out of 36 state/UTs*

In Feb 2023, 52% of the total 3W Passenger Vehicles sold were electric. The EV penetration % in the segment has remained almost the same YoY.

Electric-3W Passenger Sales Trend by OEM

Both L3 and L5 Electric 3-Wheelers are included in the analysis. Mahindra & Mahindra, YC Electric Vehicle and Saera Electric are the top 3 sellers for Feb 2023, like they were last month in Jan 2023.

3-Wheeler Cargo Sales Trend by Fuel Type, Feb 22 – Feb 23

For the Goods 3W segment, the EV penetration rose from 32% in Feb 2022 to 36% in Feb 2023.

Electric-3W Cargo Sales Trend by OEM

Both L3 and L5 Electric 3Wheelers are included in the analysis. Mahindra & Mahindra, Piaggio and Omega Seiki are the top 3 electric cargo 3W sellers for Feb 2023.

E-4W Sales Trend by OEM