Electric Vehicle sales in India rise 41 percent in April 2023

The fourth month of CY23 was the seventh consecutive month when overall EV sales crossed the 1,00,000-unit mark in India with the exception of e-buses

- Ajit Dalvi

Consumer sentiments have been strong for electric vehicles despite the uncertainties over subsidies in the country and the numbers achieved are truly remarkable. Electric vehicle (EV) retail sales in April 2023, the first month of the new fiscal year 2024, have risen by 41 percent year on year to 1,09,283 units (April 2022: 77,493 units). This data, sourced from Vahan (as of 8.30 pm, April 30, 2023) makes April the seventh month in a row that overall EV sales in India have crossed the 1,00,000-unit mark. While April 2023 retails are better than those in January 2023 (1,02,709 units) and February 2023 (1,07,039 units), they are down 28 percent on March 2023’s 140,541 units.

As is known, FY2023 saw the domestic EV industry clock over 11,81,734 retail sales, up 155 percent on FY2022 (4,58,757 units), and cross the million milestone for the first time, accounting for 30.37 percent of total India Auto Inc sales of over 3.89 million units.

Of the total 109,283 EVs retailed in April 2023, two- and three-wheeler EVs — the most affordable products in the zero-emission segment — account for 60 percent and 34 percent share respectively. Electric passenger vehicles, which are seeing growing demand amidst the personal usage consumer transition to electric mobility, accounted for 5,147 units and 4.70 percent share of the EV industry retails last month. Let’s take a closer look at how each sub-segment performed along with the company-wise retails.

Electric 2-wheelers: 65,730 units /  23 percent YoY Ola records best-ever monthly retails, TVS sells 8,717 iQube electric scooters