Three-Wheeler EV Sales In India Increased By 65.23% In 2023: FADA

Highlights :

  • FADA in its data for the Cyclic Year (CY) revealed that 2023 witnessed an increase in sales of electric three-wheeler vehicles to 5,82,793 from CY 22 i.e., 3,52,710. This brought the overall increase to an increase by 65.23%.
Three-Wheeler EV Sales In India Increased By 65.23% In 2023: FADA Three-Wheeler EV Sales Increase By 65.23% YoY In 2023: FADA

The Federation of Automotive Dealer Association (FADA) released its data on Electric-Three-Wheeler auto retail for the month of December’23 and also for the (Cyclic Year) CY 2023. The data revealed several trends and hinted at the continuous rise of the segment in India. 

Electric – Three – Wheler

FADA in its data for the Cyclic Year (CY) revealed that 2023 witnessed an increase in sales of electric three-wheeler vehicles to 5,82,793 from CY 22 i.e., 3,52,710. This brought the overall increase to an increase by 65.23%. 

The data from the last year places Mahindra Group on the lead with 5,104 (Mahindra Last Mile Mobility with sale placed at 4,459), (Mahindra and Mahindra with 639) (Mahindra Reva Electric at 6) followed by Yc Electric with 3,820 and Sare at 2,653. 

Electric Two-Wheeler   

Among the key players in the Two-Wheeler Electric Vehicles, among the total Ola Electric is on the lead with 30,263, followed by TVS motor company with the sale of 12,244 Bajaj Motors, 10,377 Ather with sale of 6,493 vehicles and Greves Electric Mobility 2,975 

FADA - Two-Wheeler Electric Vehicle

FADA – Two-Wheeler Electric Vehicle

 

For the year 2023, FADA in its data revealed that, two-wheeler electric market for 2023 attained a market share of 5.2% which takes it to a total of 75,522 sales. Ola Electric made sales of 30,263 Two-Wheeler Vehicles, followed by sale of 12,244 by TVS Motor etc. Moreover, the EV sale dropped in 2023 by 5.2% in December 2023 from 5.7% in December 2022.    

Electric Passenger Vehicle

FADA - Four-Wheeler Electric Vehicle

FADA – Four-Wheeler Electric Vehicle

 

As per the shared data, for December 2023 the EV PV market share attained a value of 2.5% in December 2023. Among the total sale of 7,220, the top 5 vehicles with maximum electric passenger vehicles sale are tata motors taking the lead with sale of 4,875 vehicles, vehicles followed by followed by MG motors India Pvt with the sale of 959, Mahindra and Mahindra with the sale of 665 vehicles, BYD India with sale of 170 vehicles and BMW India with sale of 164 vehicles. Moreover, the EV market share also reached 2.5 % and increase from 1.3% in 2022. 

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