Sales of electric vehicles in India continue to scale new heights, month-on-month. According to the Ministry of Road Transport & Highways’ Vahan portal and JKM research, sales of EVs have been ascending steadily in the last five months.
Notably, for the first time, EV registrations crossed the 40,000-mark in the month of November 2021 with total sales of 42,005 units. This was largely driven by sales of electric two-wheelers and passenger-type electric three-wheelers, which together accounted for 92% of total registrations in November.
Cargo-type electric three-wheelers with 3.9% and electric cars with 3.7% were the other notable contributors to the November tally.
Segment-Wise EV Sales
One of the key highlights of November EV sales is the growth in the overall high speed e2W segment. Sales of 22,453 units in this segment signified a 17% MoM jump and mammoth 469% YoY leap in registrations.
In contrast, sales of registered e3Ws (both passenger and cargo-type) in November 2021 increased by just seven units over October 2021 to close at 18,011 units. Passenger e3W sales almost remained the same, whereas cargo e3W sales fell by 2% from the previous month’s sales.
In terms of company wise, the cumulative sales of top 6 electric 3-wheeler players across passenger and cargo segments in November 2021 accounted for 35.1% share of the entire E3W market. YC Electric Vehicle accounted for the highest share of 10.2%, followed by Mahindra Electric Mobility (7.8%), Saera Electric Auto (5%), Champion Poly Plast (4.3%), Best Way Agencies (3.7%), and Dilli Electric (3.4%).
The sales of e-cars in November 2021 stood at 1,539 units, a marginal m-o-m increase of 18% and a y-o-y increase of 176% in registrations. Tata Motors and MG Motors continue to drive e-car sales, accounting for 98% of registrations in November 2021, with Tata Motors’ share increasing to 89% from previous month’s 80% share.
Lastly, sales of e-buses in November 2021 stood at 34 units, with a m-o-m decrease of 61%. This month’s sales were driven by PMI Electro which accounted for 62% share of the total e-bus sales in November 2021, followed by Ashok Leyland (30%), and Olectra (8%).
State-Wise EV Sales
Among all the states and UTs, Uttar Pradesh continues to have maximum monthly registered EV sales with a 20% share in overall sales in India in November 2021. Maharashtra has the 2nd highest sales at 11% share, followed by Karnataka (9%), Rajasthan (9%), Delhi (9%), and Rajasthan (8%).