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Retail sales of electric vehicles (EVs) clocked 257,278 units in the third quarter (Q3) of the calendar year 2022. This represents a 183% year-over-year (YoY) growth compared to the 90,831 units sold in the same period last year.
The numbers were revealed in the data released by the Ministry of Road Transport and Highways through its Vahan Dashboard.
EV sales in July were 77,712 and 86,786 in August. In September, 92,780 units were sold.
In all, 148,167 electric two-wheelers (E2Ws) were sold in Q3 2022, a 224% YoY growth compared to 45,675 units sold during the same period last year. Hero Electric Vehicles led E2W sales.
The other market leaders were Okinawa, Ola Electric, Ampere, and Ather Energy.
In July, 44,486 units were sold, 50,933 in August, and 52,748 in September.
It is a positive sign that the sales of E2Ws are increasing, as they make up over 70% of the registered vehicles. More E2Ws on the roads should reduce air pollution and cut India’spetroleum import bill.
In total, 8,883 electric four-wheelers (E4W) light motor vehicles were sold in Q3 2022, a 179% YoY growth compared to 3,180 units sold during the same period last year. Tata Motors Passenger Vehicles led E4W sales in Q3 2022.
The other market leaders were MG Motor, Hyundai Motor, BYD India, BMW, and Audi.
In its recently announced EV policy, Chandigarh targeted 70% of all its new vehicle registrations to be EVs in the next five years. The union territory plans to electrify 35% of all new two-wheelers registrations to be E2W by September 2023 and 75% by September 2024. Chandigarh hopes to go all-electric in two-wheeler registrations by September 2026.
Among other states that announced EV policies recently, Punjab aims for 25% of annual vehicle registrations to be EVs by 2027. Ludhiana, Jalandhar, Patiala, Amritsar, and Bhatinda — the five cities causing the most vehicular emissions in the state —will focus on adopting E2W through fiscal incentives.
Odisha aims to accelerate the adoption of EVs, especially in the category of E2W, E3W, and E4W. It aims to achieve 20% of all vehicle registrations to be EVs by 2025, while Chhattisgarh has targeted 15% of all vehicle registrations to be EVs by 2027.