In March 2023, the electric passenger car market share doubled. According to the Federation of Automobile Dealers Associations (FADA), the electric passenger car market share doubled year-on-year (YoY) in March to 2.6%, compared with 1.3% in March 2022.
FADA is the apex national body for automobile retail industry in India, engaged in sales, services and spare parts of two- or three-wheelers, passenger cars, utility vehicles, commercial vehicles and tractors.
According to FADA’s electric vehicle data, electric passenger vehicle (PV) retail sales increased by 130% year-on-year in March 2023.
In March 2023, electric passenger vehicle sales totaled 8,566 units, compared with 3,718 units sold in the same period last year. Judging from the month-on-month sales, it increased by 87.85% month-on-month. In February this year, a total of 4,560 electric passenger vehicles were sold.
Tata Motors sold a total of 8,566 electric passenger cars in March, of which 7,137 were sold, ranking first in sales.
According to FADA, vehicle retail sales data has been collated in collaboration with the Ministry of Road Transport and collected from 1,349 road transport offices across 1,435 RTOs till April.
Sales of electric two-wheelers in March 2023 increased by 57.71% year-on-year. Electric two-wheeler sales in March this year were 85,793 units, while sales in March 2022 were 54,400 units. The market share of electric two-wheelers increased to 5.9% from 4.2% on March 22.
Sales of electric tricycles in March increased by 82.21% year-on-year. A total of 45,229 electric three-wheelers were sold in March this year, while 24,823 units were sold in March 2022. The market share of electric three-wheelers increased to 52.1% from 48.2% in March last year.
In March 2023, electric commercial vehicle sales increased by 171.32% year-on-year. A total of 350 electric commercial vehicles were sold in March this year, compared with 129 units in March last year. The commercial electric vehicle market share increased to 0.38% from 0.15% in March last year.
