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					</table><p>Electric vehicle (EV) sales in India reached 371,214 units in the third quarter (Q3) of 2023, a year-over-year (YoY) increase of 40% compared to 264,781 units sold in the same period last year.</p>
<p>Sales showed a minor drop from the 371,340 units <a href="https://www.mercomindia.com/electric-vehicle-sales-q1-2023" target="_blank" rel="noopener">sold</a> in the previous quarter.</p>
<p>EVs accounted for 7.3% of overall automobile sales, according to data released by the Ministry of Road Transport and Highways through its <a href="https://vahan.parivahan.gov.in/vahan4dashboard/vahan/dashboardview.xhtml" target="_blank" rel="noopener">Vahan Dashboard</a>.</p>
<p>India has over 2.7 million registered EVs as of September 2023.</p>
<p>The numbers do not include data for Telangana and Lakshadweep.</p>
<p><strong>Electric two-wheelers</strong></p>
<p>Two-wheeler EVs accounted for nearly 49% (181,019) of the total EVs sold during the quarter.</p>
<p><a href="https://olaelectric.com/">Ola Electric</a> had the highest sales in this category, with 56,734 units sold, followed by <a href="https://www.tvsmotor.com/">TVS</a> with 41,397 units.</p>
<p>Other significant electric two-wheeler companies in the market include Ather (20,925), Bajaj (17,757), and Greaves (8,689).</p>
<p>In May, the government <a href="https://www.mercomindia.com/electric-two-wheeler-subsidy-10000-june" target="_blank" rel="noopener">slashed</a> the subsidy for electric two-wheelers from ₹15,000 (~$181)/kWh to ₹10,000 (~$121).</p>
<p><strong>Electric three-wheelers</strong></p>
<p>Nearly 45% (167,888) of all EVs sold during the quarter were electric three-wheelers. <a href="https://mahindralastmilemobility.com/" target="_blank" rel="noopener">Mahindra and Mahindra</a> had the highest sales at 15,424 units, followed by YC Electric (11,570).</p>
<p>Saera Electric (8,718) units, Dilli Electric (7,531), and Piaggio (5,860) were the other major electric three-wheeler companies in the market.</p>
<p><strong>Electric four-wheelers</strong></p>
<p>Electric four-wheelers (cars) represented 5% of the total sales at 18,603 units.</p>
<p><a href="https://www.tatamotors.com/" target="_blank" rel="noopener">Tata Motors</a> accounted for the highest sales with 12,491 units, followed by <a href="https://www.mgmotor.co.in/" target="_blank" rel="noopener">MG Motors</a> with 3,205 units.</p>
<p>Other significant electric four-wheeler companies in the market include Mahindra (1,101), Hyundai (490), and BYD (324).</p>
<p>In August, a parliamentary committee <a href="https://www.mercomindia.com/parliament-panel-extension-fame-program-2027/" target="_blank" rel="noopener">recommended</a> that the government extend Phase II of the Faster Adoption and Manufacturing of Electric and Hybrid Vehicles program for at least three years beyond March 31, 2024, to make EVs more affordable.</p>


Electric Vehicle Sales Surge 40% YoY in Q3 2023 with 371,214 Units


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					</table><p>Electric vehicle (EV) sales in India reached 371,340 units in the second quarter (Q2) of 2023, a year-over-year (YoY) increase of 66% compared to 223,293 units sold in the same period last year.</p>
<p>Sales increased by 6% <a href="https://www.mercomindia.com/electric-vehicle-sales-q1-2023" target="_blank" rel="noopener">compared</a> to 349,676 units sold in the previous quarter.</p>
<p>EVs accounted for 7.2% of overall automobile sales, according to data released by the Ministry of Road Transport and Highways through its <a href="https://vahan.parivahan.gov.in/vahan4dashboard/vahan/dashboardview.xhtml" target="_blank" rel="noopener">Vahan Dashboard</a>. India has over 2.4 million registered EVs as of June 2023.</p>
<p>The numbers do not include data for Telangana and Lakshadweep.</p>
<p><strong>Electric two-wheelers</strong></p>
<p>Two-wheeler EVs accounted for nearly 59% (217,998) of the total EVs sold during the quarter.</p>
<p><a href="https://olaelectric.com/" target="_blank" rel="noopener">Ola Electric</a> had the highest number of sales in this category, with 68,245 units sold, followed by <a href="https://www.tvsmotor.com/" target="_blank" rel="noopener">TVS</a> with 36,973 units.</p>
<p>Other significant electric two-wheeler companies in the market include Ather (27,745), Ampere (19,561), and Bajaj (16,673).</p>
<p>In a gazette notification, the Ministry of Heavy Industries <a href="https://www.mercomindia.com/electric-two-wheeler-subsidy-10000-june" target="_blank" rel="noopener">announced</a> that the cap on incentives for e-2Ws is reduced to 15% of the total cost of the vehicles from the previous 40% under the Faster Adoption and Manufacturing of Hybrid &amp; Electric Vehicles Phase-II program.</p>
<p><strong>Electric three-wheelers</strong></p>
<p>Nearly a third (130,662) of all EVs sold during the quarter were electric three-wheelers. <a href="https://www.ycevehicles.com/" target="_blank" rel="noopener">YC Electric </a>had the highest sales at 6,632 units, followed by <a href="https://mahindralastmilemobility.com/" target="_blank" rel="noopener">Mahindra and Mahindra</a> (11,486).</p>
<p>Saera Electric (6,280) units, Dilli Electric (5,947), and Piaggio (4,843) were the other major electric three-wheeler companies in the market.</p>
<p><strong>Electric four-wheelers</strong></p>
<p>Electric four-wheelers (cars) represented 5% of the total sales at 18,917 units.</p>
<p><a href="https://www.tatamotors.com/" target="_blank" rel="noopener">Tata Motors</a> accounted for the highest sales with 10,846 units, followed by <a href="https://www.mgmotor.co.in/" target="_blank" rel="noopener">MG Motors</a> with 1,902 units.</p>
<p>Other significant electric four-wheeler companies in the market include Mahindra (1,297), BYD (454), and Hyundai (382).</p>
<p>Recently, a parliamentary committee <a href="https://www.mercomindia.com/parliamentary-panel-fame-program-by-two-years" target="_blank" rel="noopener">recommended</a> extending the FAME-II program by two years beyond its March 31, 2024, deadline.</p>


Electric Vehicle Sales Surge 66% YoY in Q2 2023 with 371,340 Units Sold


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					</table><p>Electric vehicle (EV) sales in India reached 349,676 units in the first quarter of 2023, a year-over-year (YoY) increase of 81% compared to 192,565 units sold in the same period last year.</p>
<p>Sales increased by 2% compared to 343,485 units sold in the previous quarter.</p>
<p>EVs accounted for 6% of overall automobile sales, according to data released by the Ministry of Road Transport and Highways through its <a href="https://vahan.parivahan.gov.in/vahan4dashboard/vahan/dashboardview.xhtml" target="_blank" rel="noopener">Vahan Dashboard</a>. The numbers do not include data for Telangana and Lakshadweep.</p>
<p>India has over 2 million registered EVs as of March 2023.</p>
<p><strong>Electric two-wheelers</strong></p>
<p>Out of the total EVs sold, nearly 62% (216,482) were electric two-wheelers. <a href="https://olaelectric.com/" target="_blank" rel="noopener">Ola Electric</a> had the highest number of sales in this category with 57,365 units sold, followed by <a href="https://www.tvsmotor.com/" target="_blank" rel="noopener">TVS</a> with 39,893 units. Other significant electric two-wheeler companies in the market include Ather (31,378), Ampere (19,557), and Hero Electric (18,917).</p>
<p><strong>Electric three-wheelers</strong></p>
<p>Nearly a third (115,520) of all EVs sold during the quarter were electric three-wheelers. YC Electric had the highest sales at 7,954 units, followed by <a href="https://www.saeraauto.com/" target="_blank" rel="noopener">Saera Electric</a> with (5,841) units. Mahindra and Mahindra (6,951), Dilli Electric (5,086), and Mahindra Reva Electric Vehicles (4,108) were the other major electric three-wheeler companies in the market.</p>
<p><strong>Electric four-wheelers</strong></p>
<p>Electric four-wheelers (cars) represented 4% of the total sales at 14,200 units.</p>
<p><a href="https://www.tatamotors.com/" target="_blank" rel="noopener">Tata Motors</a> accounted for the highest sales with 11,132 units, followed by <a href="https://www.mgmotor.co.in/" target="_blank" rel="noopener">MG Motors</a> with 1,259 units. Other significant electric four-wheeler companies in the market include BYD (558), Mahindra (243), and BMW (182).</p>
<p>India aims for EVs to make up 30% of all vehicles by 2030. The Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) program, state subsidies, and a wider range of consumer options have contributed to the rising sales. There is also increased awareness among consumers about the benefits of using environmentally friendly modes of transport.</p>
<p>Recently, a parliamentary committee <a href="https://www.mercomindia.com/parliamentary-panel-fame-program-by-two-years" target="_blank" rel="noopener">recommended</a> extending the FAME-II program by two years beyond its March 31, 2024, deadline.</p>
<p>EV sales in India <a href="https://www.mercomindia.com/ev-sales-clocked-record-one-million-units-2022" target="_blank" rel="noopener">reached</a> an unprecedented one million units in 2022, a jump of over 300% against the 322,877 units sold in 2021.</p>


Electric Vehicle Sales Surge 81% YoY in Q1 2023, 349,676 Units Sold


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					</table><p>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.</p>
<p>The numbers were revealed in the data released by the Ministry of Road Transport and Highways through its <a href="https://vahan.parivahan.gov.in/vahan4dashboard/vahan/dashboardview.xhtml" target="_blank" rel="noopener">Vahan Dashboard</a>.</p>
<p>EV sales in July were 77,712 and 86,786 in August. In September, 92,780 units were sold.</p>
<p><strong>Electric 2-wheelers</strong></p>
<p>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.</p>
<p>The other market leaders were Okinawa, Ola Electric, Ampere, and Ather Energy.</p>
<p>In July, 44,486 units were sold, 50,933 in August, and 52,748 in September.</p>
<p>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.</p>
<p><strong>Electric 4-wheelers </strong></p>
<p>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.</p>
<p>The other market leaders were MG Motor, Hyundai Motor, BYD India, BMW, and Audi.</p>
<p>In its recently announced EV policy, Chandigarh <u><a href="https://mercomindia.com/chandigarh-ev-policy-targets-70-of-all-vehicles-to-be-electric-by-2027/" target="_blank" rel="noopener">targeted</a></u> 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.</p>
<p>Among other states that announced EV policies recently, Punjab <u><a href="https://mercomindia.com/punjab-25-ev-registrations-2027-incentivizes-giga-battery-manufacturing/" target="_blank" rel="noopener">aims</a></u> 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.</p>
<p>Odisha aims to <a href="https://mercomindia.com/odisha-announces-ev-policy-electric-vehicle/" target="_blank" rel="noopener">accelerate</a> 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 <a href="https://mercomindia.com/chhattisgarhs-ev-policy-targets-15-percent-vehicles-electric-2027/" target="_blank" rel="noopener">targeted</a> 15% of all vehicle registrations to be EVs by 2027.</p>


Electric Two and Four-Wheeler Sales Increase 183% YoY in Q3 2022


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					</table><p>Retail sales of electric vehicles (EVs) clocked 390,399 units in the first half (1H) of the calendar year 2022. This represents a 333% year-over-year (YoY) growth compared to the 90,102 units sold in the same period last year.</p>
<p>The numbers were revealed in the data released by the Ministry of Road Transport and Highways through its <a href="https://vahan.parivahan.gov.in/vahan4dashboard/vahan/dashboardview.xhtml">Vahan Dashboard</a>.</p>
<p>EV sales reached 48,166 units in January and increased to 54,053 in February. The highest number of EVs in the first half of the year was clocked in March, with 77,250. In April, 72,588 EVs were sold and 65,879 in May, and 72,463 in June.</p>
<p>The EV sales (390,399) in 1H 2022 surpassed the sale of EVs in the entire year of 2021 (311,420).</p>
<p><strong><img loading="lazy" decoding="async" class="aligncenter wp-image-37945 size-full" src="https://mercomindia.com/wp-content/uploads/2022/07/EV-Sales-for-2022-Jan-to-June.png" alt="EV Sales for 2022 Jan to June" width="535" height="270" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/07/EV-Sales-for-2022-Jan-to-June.png 535w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/07/EV-Sales-for-2022-Jan-to-June-300x151.png 300w" sizes="(max-width: 535px) 100vw, 535px" /></strong></p>
<p><strong>Electric 2-wheelers (E2W)</strong></p>
<p>In all, 240,662 E2Ws were sold in 1H 2022, a 656% YoY growth compared to 31,823 units sold during the same period last year.</p>
<p>In January, 27,590 units were sold, February (32,458), March (49,643), April (49,189), May (39,520), and June (42,262).</p>
<p>Okinawa led E2W sales in the first half of the year. Hero Electric Vehicles, Ola Electric, Ampere, and Ather Energy were the other market leaders.</p>
<p>The rising sales of E2Ws are a positive sign as they account for over 70% of all the registered vehicles in India. More E2Ws on the roads are expected to help reduce air pollution besides cutting petroleum import bills.</p>
<p>According to a recent report by NITI Aayog and Technology Information Forecasting and Assessment Council (TIFAC), E2W sales could <a href="https://mercomindia.com/demand-incentives-key-for-greater-adoption-of-electric-two-wheelers-niti-aayog/">touch</a> 22.02 million in the financial year 2031 if battery costs reduce by 8% CAGR, vehicle power increases by 20% by FY 2024, and demand incentives continue until FY 2031.</p>
<p><strong>Electric 4-wheelers (E4W)</strong></p>
<p>In all, 1,814 E4Ws were sold in 1H 2022, a 706% rise YoY compared to the 225 units sold in the same period last year. In January, 204 units were sold, February (144), March (66), April (450), May (678), and June (272).</p>
<p>Tata Motors&#8217; passenger vehicles department led E4W sales during the period. Mahindra &amp; Mahindra, MG Motor India, and BYD Auto were the other companies that topped the sales list.</p>
<p>Several states, including <a href="https://mercomindia.com/haryana-announces-a-slew-of-financial-incentives-for-ev-manufacturers/" target="_blank" rel="noopener">Haryana</a>, <a href="https://mercomindia.com/assam-electric-vehicle-policy/" target="_blank" rel="noopener">Assam</a>, <a href="https://mercomindia.com/maharashtras-draft-ev-policy-25-e-public-transport-2025/" target="_blank" rel="noopener">Maharashtra</a>, <a href="https://mercomindia.com/delhi-new-ev-incentives-policy/" target="_blank" rel="noopener">Delhi</a>, and <a href="https://mercomindia.com/gujarat-unveils-electric-vehicle-policy/" target="_blank" rel="noopener">Gujarat</a>, have introduced policies to bolster EV and related-infrastructure production.</p>


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