Electric vehicle retail sales zoom over three-fold in FY22

Total electric vehicle sales reached 4,29,217 units in 2021-22, with two-wheeler sales leading the segment

Total electric vehicle sales reached 4,29,217 units in 2021-22, with two-wheeler sales leading the segment

Electric vehicle sales in the country more than tripled last year, with two-wheeler sales leading the way in the segment, according to data collected by the FADA of car dealers.

Total electric vehicle (EV) sales reached 4,29,217 units in 2021-22, tripling from 1,34821 units in the 2020-21 fiscal year, the industry association said.

Total EV sales were 1,68,300 units in fiscal 2019-20, it noted. According to the Federation of Automobile Dealers Associations (FADA), retail sales of electric passenger cars were 17,802 during the last fiscal year, a threefold increase from 4,984 units in FY21.

Tata Motors, a homegrown automaker, led the segment with sales of 15,198 units and market share of 85.37% in the vertical direction. The Mumbai-based company’s retail sales totaled 3,523 units in 2020-21.

MG Motor India took second place with sales of 2,045 units last fiscal year with a market share of 11.49%.

It had sold 1,115 units in fiscal year 2020-21.

Mahindra & Mahindra and Hyundai Motor India were in third and fourth place with deliveries of 156 and 128 units respectively, both of which settled with less than 1% market share. M&M and Hyundai had sold 94 and 184 units, respectively, in fiscal year 2020-21, according to FADA data.

Retail sales of electric two-wheelers were 2,31,338 units last fiscal year, a jump of more than fivefold from 41,046 units in 2020-21, it said. Hero Electric led the segment with sales of 65,303 units and achieved 28.23% market share in the domestic market.

It was followed by Okinawa Autotech, which sold 46,447 units last fiscal year. Third place was taken by Ampere Vehicles with sales of 24,648 units. Hero MotoCorp-backed Ather Energy was in fourth position with 19,971 units registered in 2021-22.

Ola Electric, based in Bengaluru, was in sixth place with sales of 14,371 units, while TVS Motor Company was seventh with registrations of 9,458 units last fiscal year.

FADA, which collected data from 1,397 of a total of 1,605 regional transportation offices, said total sales of electric tricycles last fiscal year were 1,77,874 units, doubling from 88,391 units in the previous fiscal year.

Similarly, FADA noted that sales of electric commercial vehicles rose to 2,203 units last fiscal year, compared to 400 units in FY21.

www.thehindu.com

Leave a Reply

Your email address will not be published.