PUNE: Electric vehicles (EVs) sales in the country zoomed to a new high at 1.18 million units in the fiscal year ended on March 31, led by robust demand for two-and three-wheelers.
The electric vehicles also clocked 5 per cent of the total automobile sales in the country and charged past the 1,00,000 unit mark for the sixth month in a row this year.
India’s total passenger vehicles sales rose 27 per cent to 3.9 million units in fiscal year 2023. The previous peak was in FY19 when car sales hit 3.38 million units.
According to the government’s Vahan website data, cumulative sales on March 31 were 11,71,944 units milestone for the first time in a fiscal, recording a robust 155 per cent year-on-year jump over FY2022’s 4,58,746 units.
This indicated a massive surge in consumer demand for EVs for their low running costs as against stiff petrol, diesel and CNG prices.
Not surprisingly the charge of the EV brigade hit a new monthly peak of 1,40,509 units in March, beating the previous best of 121,389 units in November 2022. This sales pitch started in festive October 2022 and has continued right till March 2023.
According to experts, fleet operators and individuals buying two-and-three-wheelers are the main drivers of EV sales.
The latest Vahan retail data showed that the electric two-wheelers sales in March stood at 86,136 units, followed by electric three-wheelers at 46,941 units, electric four-wheelers, that is passenger vehicles and commercial vehicles at 7,345 units and e-buses at 87 units.
TVS Motor Company’s e-two wheeler sales grew 23 per cent month-on-month to 15,581 units in March, while market leader Ola Electric clocked 15 per cent growth at 20,283 units.
Other two-wheeler firms like Ampere recorded 47 per cent growth at 8,572 units and Ather Energy 16 per cent at 11,607 units last month.
