Electric Vehicle Retail Sales Zoom Over Three-Fold in Fiscal Year 2022

According to data produced by automobile dealers’ group Federation of Automobile Dealers Associations (FADA), electric vehicle retail sales in the country increased by over threefold last fiscal year, with two-wheeler offtake leading the market. Total electric vehicle (EV) retail sales reached 4,29,217 units in 2021-22, up from 1,34,821 units in 2020-21. Electric passenger vehicle retail sales reached 17,802 units in FY22, up from 4,984 units in FY21.

Tata Motors, a domestic automaker, topped the segment with 15,198 units sold and a market share of 85.37%. In 2020-21, the Mumbai-based firm’s retail sales totalled 3,523 units. MG Motor India came in second with 2,045 units sold previous fiscal year and a market share of 11.49%. With 156 and 128 units delivered, Mahindra & Mahindra and Hyundai Motor India came in third and fourth place, respectively, with market shares of less than 1%. 

The electric two-wheeler retail sales in FY22 were 2,31,338 units, up from 41,046 units in FY21.

Hero Electric topped the segment with 65,303 units sold, accounting for 28.23% of the domestic market. Okinawa Autotech came in second with 46,447 vehicles sold in FY22. Ampere Vehicles came in third place with 24,648 units sold. With 19,971 units registered in FY22, Ather Energy, funded by Hero MotoCorp, came in fourth. In FY22, Bengaluru-based Ola Electric was in sixth place with 14,371 units sold, while TVS Motor Company was in seventh place with 9,458 registrations.

According to FADA, which gathered statistics from 1,397 of the total 1,605 regional transport offices, total electric three-wheeler sales in the last fiscal year totalled 1,77,874 units, up from 88,391 units the previous fiscal year. Sales of electric commercial vehicles increased to 2,203 units in FY22, up from 400 units in FY21.

Source:IBEF