India’s EV retail sales surge 74% to record 3.33 lakh units in September: FADA

India’s electric vehicle market recorded its highest-ever monthly retail sales in September, with total sales reaching 3,33,634 units, registering a 74 per cent year-on-year increase, according to data released by the Federation of Automobile Dealers Associations (FADA) on Wednesday.

EV penetration across vehicle categories also rose to around 13 per cent in September, compared with approximately 10 per cent during the same month last year.

The record performance was driven by strong demand across mass-market segments, particularly electric two-wheelers and passenger vehicles, both of which recorded their highest-ever monthly retail sales.

FADA President Sai Giridhar said the September performance was significant as electric vehicle sales not only grew compared with the previous year but also reached a new all-time high.

He said, “Festive demand, maturing running-cost economics, a widening choice of models and sustained policy support through PM E-DRIVE and progressive state schemes are together turning the EV from an alternative into a default consideration for a growing set of buyers.”

Giridhar further said the growth was increasingly being driven by demand rather than subsidies, adding that electric mobility was becoming an increasingly important part of India’s growth story.

Electric two-wheelers lead growth

Electric two-wheeler retail sales surged to an all-time high of 2,07,314 units in September, registering an 88.67 per cent year-on-year and 13.16 per cent month-on-month increase.

EV penetration in the two-wheeler segment rose to 11.6 per cent, compared with 8.2 per cent a year earlier.

Electric passenger vehicle retail sales also reached a new high of 36,108 units, registering 94.56 per cent year-on-year and 17.63 per cent month-on-month growth.

EV penetration in the passenger vehicle segment increased to 8.5 per cent, up from 5.7 per cent in September last year.

Electric three-wheelers maintain strong penetration

Electric three-wheeler retail sales rose to 86,024 units, registering a 40 per cent year-on-year and 7.74 per cent month-on-month increase.

The segment continued to record strong EV penetration at 64.9 per cent.

Meanwhile, electric commercial vehicle retail sales stood at 4,188 units during the month.

Although sales in the segment declined 10.9 per cent month-on-month, they more than doubled year-on-year, recording a growth of 158 per cent. EV penetration in the segment rose to around 4 per cent, compared with 2.16 per cent a year earlier.

–IANS