New Delhi: India’s electric vehicle (EV) transition hit a new milestone in July as retail sales touched an all-time high of 3,27,901 units, up more than 66 per cent year-on-year, according to data released by the Federation of Automobile Dealers Associations (FADA) on Friday.
The surge meant that nearly one in every eight vehicles retailed in the country during the month was electric which showed growing consumer acceptance across the segment.
However, electric two-wheelers led the charge as crossed the 2 lakh-unit mark for the first time. Retail sales rose 88.3 per cent year-on-year to 2,04,362 units in July, while their market share increased to 11.2 per cent from 7.7 per cent a year ago.
TVS Motor retained the top spot in the segment with sales of 55,499 units, followed by Bajaj Auto at 45,613 units and Ather Energy at 30,357 units. While Ola Electric sold 14,106 units during the month, a decrease of 23.54 per cent year-on-year.
Meanwhile, electric three-wheelers also strengthened their dominance as sales increased 25.3 per cent year-on-year to 87,055 units. The segment’s electric penetration climbed to 65.1 per cent, indicating that electric mobility has become the preferred choice in the category.
Mahindra Group remained the market leader in electric three-wheelers with sales of 14,191 units, closely followed by Bajaj Auto at 13,442 units.
In the passenger vehicle segment, electric retail sales jumped 83.1 per cent year-on-year to 32,928 units. Their market share rose to nearly 8 per cent from 5 per cent in July last year. Tata Motors Passenger Vehicles (TMPV) continued to lead the electric passenger vehicle market with sales of 13,678 units, followed by Mahindra & Mahindra at 7,742 units and JSW MG Motor India at 5,689 units.
Additionally, electric commercial vehicles recorded one of the strongest growth rates with retail sales surging nearly 181 per cent year-on-year to 3,556 units. Their market share more than doubled to 3.57 per cent from 1.65 per cent a year ago. Tata Motors remained the segment leader with sales of 1,306 units.
Commenting on the performance, FADA Vice President Sai Giridhar said the data showed EV adoption was no longer a future projection but a marketplace reality.
“Two-wheelers crossed the two-lakh mark for the first time, three-wheelers have made electric the default choice, commercial vehicles are witnessing fleet electrification, and passenger EV demand remains strong despite supply constraints,” he said.
According to FADA, the broad-based growth across all vehicle categories underscores the accelerating pace of India’s shift towards electric mobility.
The retail industry posted every single vehicle category posted its best-ever July performance for the first time and recorded total sales of 25,91,138 units, an increase of 25.89 per cent year-on-year, according to the industry data released on Thursday.
(IANS)
