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The electric two-wheeler sales grew 84 per cent year-on-year (y-o-y) in February to 65,702 units as compared with 35,709 units in same month last year, with Ola Electric leading the market, followed by TVS Motor, Ather Energy and Hero Electric.
Ola Electric sold 17,647 units of electric two-wheelers as compared with 3,910 units in the same month last year. TVS Motor sold 12,583 units during the month as compared with 1,555 units in the same month last year, a monthly report shared by Federation of Automobile Dealers Associations (FADA) said on Tuesday.
Similarly, Ather Energy also reported a multifold growth in its February sales to 9,982 units as against 2,233 units in the corresponding month last year. However, Hero Electric saw a decline of 20 per cent y-o-y in its sales in February to 5,858 units as compared with 7,361 units in February 2022.
In the three-wheeler EV segment, the total retail sales grew by 87 per cent y-o-y to 35,667 units during last month as compared with 19,100 units in the corresponding month last year.
In the electric passenger vehicle segment also, sales grew 86 per cent y-o-y to 4,560 units as compared with 2,449 units in February 2022.
Sales of EV market leader, Tata Motors grew by 63 per cent y-o-y to 3,776 units during the month as against 2,316 units in the corresponding month last year.
Interestingly, Chinese manufacturers MG Motor and BYD followed as the second and third companies respectively to sell the highest passenger EVs after Tata Motors. While MG Motor sold 345 units of electric cars (against 38 in February 2022), BYD sold 228 units (against 12 in February 2022) during last month.
BMW India and Hyundai Motor India reported sales of 54 and 48 units of electric cars in February respectively.
In the electric commercial vehicle segment, FADA said the industry sold 178 units in February, up 13 per cent y-o-y as compared with 157 units in February last year.
“The growth in the electric vehicle has been quite encouraging for the sector on y-o-y basis although on m-o-m it has been only marginal. The EV segment has witnessed consistent sales growth, and we expect this momentum to continue,” Manish Raj Singhania, President, FADA, told businessline.
He said the FAME policy benefits have undoubtedly provided the sector a boost and momentum in terms of sales.
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