Electric Vehicles Sales in India — Trends & Insights September 2023

 In the quest for a sustainable future, electric vehicles (EVs) have taken center stage worldwide, and India is no exception. The Indian electric vehicle market is witnessing encouraging growth, mirroring the nation’s shift towards eco-friendly mobility. Let’s delve into the evolving trends and observe the remarkable surge in EV sales in India for September 2023.




Electric Vehicles Sales in India — September 2023 Trends The transformation towards electric mobility was prominently evident in September 2023, showcasing a significant uptick in EV sales. Industry research data revealed a month-on-month increase of about 1%, tallying an impressive 127,735 units sold. Even more noteworthy was the year-on-year surge of 36% in EV sales compared to September 2022.

The surge in registrations was primarily driven by electric two-wheelers and passenger-type electric three-wheelers, accounting for a substantial 90.85% of total registrations for the month.

EV Sales by State Rankings in September 2023 State-wise EV registrations for September 2023 unveiled the following rankings:

  1. Uttar Pradesh (20.57%)
  2. Maharashtra (11.06%)
  3. Karnataka (9.40%)
  4. Gujarat (6.40%)

These rankings shed light on the distribution of EV sales, with Uttar Pradesh leading, followed closely by Maharashtra and Karnataka.

Category-wise EV Sales in September 2023 High-Speed Electric Two-Wheelers (HS E2W) September 2023 witnessed a 2% increase in high-speed electric two-wheeler sales, totaling 63,715 units. The top 10 players commanded 90.75% of total registrations, with Ola Electric taking the lead with 18,635 units sold (29.2% market share).

Electric Three-Wheelers (E3W) Passenger E3W sales grew by 2.4%, reaching 52,337 units, while cargo E3W sales declined by 9.6% to 5,107 units. Mahindra led the E3W market with an 8.64% share.

Electric Cars Sales Trends In September 2023, E-car sales totaled 6,020 units, marking a 9.9% decrease from the previous month. Tata Motors maintained a dominant market share of 68.85%.

Electric Buses Sales Figures September 2023 saw 258 E-buses sold, indicating a slight 4% decrease from the prior month. Tata Motors led this segment with a market share of 65.50%.

Conclusion

The promising trends of EV sales in India for September 2023 reflect the nation’s commitment to a sustainable future. India is poised to play a significant role in the global EV market. These trends signify India’s potential to lead the charge towards a more environmentally conscious future. With expanding EV infrastructure and diverse offerings, the Indian EV landscape is set for exciting developments in the coming years.

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