The electric three-wheeler noted a growth of 117% in its retail sales in FY22. And again, YC Electric tops the retail sales list.
India saw a huge growth in electric passenger vehicles and three-wheelers over the past year. According to the FADA's sales report, electric three-wheelers stood at 77,625 units in FY 2022, up by 117% from 35,689 units retailed in FY 2021. The data was released by FADA on 03.04.2022 in collaboration with the Ministry of Road Transport and Highways, Government of India and gathered from 1,379 out of 1,605 RTOs.
YC Electric stands at the top position in the list with 90.79% growth in FY 2022. The company sold 17,049 units during FY22, up from 8,936 units sold in FY 2021. However, the company's market share fell from 10.11% held in FY 2021 to 9.58% in FY 2022.
After YC Electric, Saera Electric (Mayuri E Rickshaw) stands at the 2nd position with a 115.27% increase. The sales stood at 8,475 units in FY 2022, growing from 3,937 units sold in FY 2021. As a result, market share also grew from 4.45% to 4.76% YoY.
Saarthi E Rickshaw (Champion PolyPlast) sales rose by 145.13% YoY, with 7,528 units in FY 2022 over 3,071 units sold in FY 2021. Along with this, the market share increased from 3.47% to 4.23% during FY22.
City Life (Dili Electric) reported a 165.79% boost in its retail sales, with 6,456 units sold in FY 2022 over 2,429 units sold in FY2021. The market share rose from 2.75% to 3.63%. Greaves Cotton Limited (Bestway Agencies) sales stood at 6,254 units in FY 2022, up by 188.07% from 2,171 units sold in FY 2022. The company's market share is 3.52%.
The list also includes Mahindra, which sold 4,809 units in FY 2022, increasing from 3,358 units in FY 2021. Thukral Electric sold 4,334 units and saw 116.27% growth in FY 2022 as it sold 2,004 units in FY 2021.
Mini Metro EV reported growth of 149.77% by selling 4,311 units during FY 2022, which is huge from 1,726 units sold during FY 2021. Jezza Motors, Terra Motors and JS Auto also noted significant growth in their retail sales. The company sold 4,105 units, 3,792 units and 3,622 units in FY 2022, respectively.
Udaan Vehicles (Energy Electric) sold 3,464 units during FY 2022, up from 1,300 in FY 2021. On the other hand, Piaggio sales surged in FY 2022, with 3,426 units from 106 units sold in FY 2021. The company's market share also increased from 0.12% to 1.93%.
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