According to Vahan’s recent data on mobility sales performance, EV sales in retail sector in April 2023, have risen by 41% year on year to 109,283 units (April 2022: 77,493 units).
This data, sourced from Vahan makes April the seventh month in a row that overall EV sales in India have crossed the 100,000-unit mark.
While April 2023 retails are better than those in January 2023 (102,709 units) and February 2023 (107,039 units), they are down 28% on March 2023’s 140,541 units.
Of the total 109,283 EVs retailed in April 2023, two- and three-wheeled EVs – the most affordable products in the zero-emission segment – account for 60% and 34% share respectively.
The electric two-wheeler industry, which has all of 103 players in the growing marketplace, has chalked retail sales of 65,730 units in April 2023, up 23.42% (April 2022: 53,257 units). The Top 10 account for 59,474 units or 90% of total retails in April. While only OEM (Ola Electric) has registered five-figure sales, seven others have clocked four-figure retails.
Ola Electric, the market leader in FY2023 with an over-21% share, continues its dominance with a strong opening in FY2023. The company has retailed a total of 21,573 units in April 2023, its best-ever monthly sales yet, beating the 21,389 units of March 2023.
In third place is Ampere Electric, which was the surprise package of FY2023 and had taken second rank in the Indian electric two-wheeler industry. In April, Ampere Vehicles, the EV arm of Greaves Cotton, sold a total of 8,265 units. Ampere, which has a portfolio of three models – the Zeal, Magnus and Primus – is seen a sustained uptick in demand for its EVs.
Bengaluru-based Ather Energy, which saw 7,680 of its smart electric scooters being bought across the country, takes fourth rank in the Top 10 list. It is followed by Bajaj Auto with 3,607 units of the Chetak scooter, Hero Electric (3,287) and Okinawa Autotech (3,217). Okaya EV is the last of the OEMs with four-figure sales (1,508).
The other ‘low-hanging fruit’ of the EV industry, three-wheeled EVs sold a total of 37,500 units, up 73.40% (April 2022: 21,626 units).
Mahindra Last Mile Mobility, the market leader in FY2023 with over 35,000 units and a 9% share, has kicked off FY2024 on a strong note: 3,487 units in April 2023. The company maintains its 9% share of the market and is expanding production. On April 18, a new line for Treo e-three-wheelers was inaugurated at the Haridwar plant.
YC Electric, the No. 2 e-three-wheeler OEM in FY2023, maintains its rank in April with 2,773 units.
Four other players have sold in excess of 1,400 units each – Saera Electric (1,818), Dilli Electric (1,716), Piaggio Vehicles (1,405) and Mini Metro (1,006).
The electric car and SUV segment has recorded its second-best monthly sales in April 2023 – 5,147 units. This is a 185% YoY increase (April 2022: 1,803 units) and 1,946 units behind the best-ever monthly sales of 7,093 units in March 2023.
Electric PV market leader Tata Motors, which has the biggest EV portfolio in India in the form of the Nexon EV, Tigor EV, Tiago EV and the Xpres-T (for fleet buyers), sold a total of 3,748 units.
That new competition has arrived in the form of Mahindra & Mahindra, which had launched its all-electric XUV400 – the first real rival to the Tata Nexon EV, which is the best-selling ePV in India.
As per Vahan data, M&M, which also retails the e-Verito, clocked sales of 499 units in April 2023, which gives it a market share of 9.69% and also takes it ahead of MG Motor India (317 units). PCA India, which retails the Citroen eC3, the electric version of the C3 hatchback, moves into fourth place with 226 units, ahead of BYD India (137 units). Luxury carmakers contributed 130 units or 2.52% to total sales in this sub-segment of electric cars and SUVs.
Compared to 165 electric buses sold in April 2022, a year later the number is down 52% to 79 buses, possibly because Tata Motors may not have participated in any fresh tenders from the Central and State governments for procurement. Olectra Greentech is the leader in April 2023 with 27 units, followed by PM Electro Mobility with 16 units.
JBM Auto and Ashok Leyland’s EV arm (Switch Mobility) are tied in third place with 13 units each. The only other OEM to figure in last month’s retails is Mytrah Mobility with 10 units.
The shift from IC engine vehicles to EVs is underway in India, which has outlined EVs to account for 30% of its mobility requirements by 2030.