Electric vehicle sales have been on a high. As adoption increases, it is not just the two-wheelers and the three-wheelers but electric cars are also clocking a steady up move. As per data on the Vahan dashboard, the first half of 2022, accounted for a three-fold jump in EV sales and the cumulative sale of electric cars in July 2022 stood at 4,445 units. This is a 3.5 times increase compared to last July and even compared to the previous month, it is up 14.15 percent compared to total June sales.
Market leader in this segment, Tata Motors has continued to maintain a lead. In July, the company recorded a 90.5 percent share of the total registrations. Besides Tata Motors, the other players like MG Motor, BYD, Audi, BMW, Hyundai, and Mahindra & Mahindra also clocked steady rise.
Electric sales for the entire first quarter came in at 72,474 units with a steady increase every month. In fact, the EV sales recorded in the first six months of this fiscal at 390,399 units is significantly more than the total EVs sold in 2021 (3,11,420 EVs).
|Sales in July 2022||Sales in July 2021||Y-o-Y increase||M-o-M increase||Sales in June 2022||Sales in May 2022||Sales in April 2022|
|4,445 units||967 units||459.67%||14.15%||3,894 units||3,796 units||2659 units|
The official July sales data from SIAM (Society of Indian Automobile Manufacturers) indicates a marginal recovery in demand. Total passenger vehicle sales reflected the overall sales trend at 293,865 units, up 11.12 percent from 264,442 vehicles sold in July 2021.
While EV sales in India have seen exponential growth in recent times, the latest data shared by the Ministry of Road Transport and Highways (MoRTH) outlines that currently, 13,92,265 EVs are plying on Indian roads out of which electric cars account for 5.58 percent share (as per Vahan data).