In line with the expectations and announcements of various state governments, electric vehicles (EVs) recorded the highest ever retail sales in the last 14 months.
According to Vahan Data and JKM research, the registered EV sales in July 2021 witnessed a month-on-month growth of 134.8%, at 26,127 units. On a Y-o-Y basis, EVs posted growth of 261.11%. Earlier than July, the segment posted the highest sales in March 2021 at 26,073 units.
In contrast to earlier months when electric three-wheelers (E3W) led EV sales, in July, the EV sales is largely aided by the electric two-wheeler (E2W) registrations post the announcement of increased incentives under the FAME-II scheme.
Moreover, various state governments such as Maharashtra, Rajasthan and Gujarat subsequently announced their EV policies which further enhanced the incentives on buying EVs.
Note: Sales figures represent EVs registered across 1,304 RTOs in 33 states/ UTs.
The overall high speed-E2W sales in the country in July 2021 stood at 13,345 units, witnessing a 229% M-o-M jump over the previous month’s sales and a Y-o-Y leap in registrations by 835.83%.
While established players (Hero Electric, Okinawa, Ampere, Ather) continue to dominate the high-speed market with a 69% share in July-21 sales, other upcoming OEMs in this space such as PurEV (9.8%), Bajaj (5.34%), and TVS (4.8%) too contributed a significant share this month.
Industry experts believe that now the delta between a petrol scooter and electric scooter is contracting due to incentives announced at the same time fuel prices are pinching the consumers.
The sales of registered E3Ws (both passenger and cargo-type) in July 2021 is 10,873 units, increasing M-o-M by 89%. This increase was driven by passenger type E3W, which increased by 93.89% over last month, while the share of overall registrations by cargo type E3W fell to 10%.
Read Also: FAME II Scheme Supports 92,393 EVs; Offers Demand Incentive Of INR 278 Crore
The cumulative sales of E4Ws in July 2021 stood at 967 units, with M-o-M increase of 66%. This also represents a Y-o-Y increase of 173.16%.
While Tata Motors continued to dominate the segment with Nexon, its market share dropped from 76% from last month to 66% in July 2021. According to the company, states like Gujarat and Maharashtra are observing demand for Nexon EV and Nexon Diesel at par. MG, on the other hand, increased its share from 20% to 29% in the same period.
Lastly, among all the states and UTs, Uttar Pradesh continues to have maximum monthly registered EV sales with 17% of overall sales in India in July 2021. Karnataka has the second-highest sales at 15% share, followed by Tamil Nadu (12%) and Maharashtra (10%).