Ola EV observes the best-ever monthly sales with 21,573 units. Tata Motors remains to be a leader in Electric Passenger Vehicles sales in April 2023.
Overall Electric Vehicle sales surpassed 1 lakh units in April 2023. The same EV retail sales trend has been witnessed for the last seventh consecutive months. April 2023 was the first month of the new financial year 2024. In this period, the Indian economy saw 1,09,283 units retail sales of electric vehicles, with a 41% hike in comparison to April 2022. Despite 1 Lakh plus selling units, this month’s sales growth is 28% down as compared to March 2023 sales report.
In the zero-emission segment, electric 2 wheeler and 3 wheeler models are the most affordable sub-segment. Two wheeler EVs cover 60% share, while Three wheeler EVs cover 34% share of the total EV retail sales April 2023. It has been seen that the demand for ePV (Electric Passenger Vehicles) is growing with the transition to electric mobility. The ePV sub-segment contributes a 4.70% share of EV retail sales for April 2023. Let’s take a look at the sales performance of each sub-segments.
Electric 2 Wheelers Retail Sales Performance In April 2023 (23.42%)
Two Wheeler EV sales in April 2023 highlighted a growth of 23.42% in April 2023 as compared to April 2022. This April saw a retail sale of 65,730 units in this sub-segment. Ola Electric starts this fiscal year with a strong dominance of over 21% share. This company registered retail sales of 21,573 units in April 2023. TVS Motors is in second place, selling units of 8,720 units in April 2023. Ampere Electric brand is the EV arm of Greaves Cotton which highlighted retail sales of 8,265 units in April 2023. The Bangalore-based Ather Energy is ranked 4th in terms of two-wheeler EV sales report April 2023 with selling units of 7,680.
Electric 3 Wheelers Retail Sales Performance In April 2023 (73.40%)
Three Wheeler EV sales in April 2023 recorded a sales growth of 73.40% in April 2023 as compared to April 2022. This April saw retail sales of 37,500 E3W units as compared to 21,626 units in April 2022. Being the topper in this sub-segment, Mahindra & Mahindra registered retail sales of 3,487 units in April 2023. This company shares around 9% in overall sales of electric 3 wheelers. Mahindra Last Mile Mobility has revealed 6 EVs like Treo, Treo Yaari, and e-Alpha Mini for passenger movement. Some other models like Zor Grand, Treo Zor, and e-Alpha Cargo are for cargo transportation.
YC Electric is in second place, having sold units of 2,773 units in April 2023. This brand retails Yatri Super, Yatri Deluxe, and Yatri for passenger transportation. Some of its models are E-Loader and Yatri Cart ensure goods transportation. Saera Electric Auto highlighted sales of 1,818 units in April 2023. Dilli Electric Auto is placed 4th in terms of three-wheeler EV sales report April 2023 with selling units of 1,716.
Electric Passenger Vehicles Sales Performance In April 2023 (185.46%)
The sales of the electric car and SUV segment recorded its second-best monthly sales this April. ePV sub-segment highlighted a sales growth of 185.46%, with 5,147 units sold in April 2023 as compared to 1,803 units in April 2022. Tata Motors is the pioneer in the Electric PV market, with sold units of 3,748 units. This brand has consistently supreme hegemony with around 80% share in this market. Now Mahindra & Mahindra is arriving to give competition with 499 selling units in April 2023. MG Motors India is in 3rd rank in terms of sales of electric passenger vehicles in India.
Electric Buses Sales Performance In April 2023 (-52.12%)
The sales of electric buses observed a decline of 52.12% in April 2023. This downfall may be due to absence of Tata Motors to take participation in tenders for procurement. EV Bus segment witnessed only 79 units in April 2023 as compared to 165 units in April 2022. Olectra Greentech is the leader under this sub-segment with 27 units sale in April 2023. PM Electro Mobility registered selling of 16 units which made it in 2nd place in the list. The EV arm of Ashok Leyland named Switch Mobility is placed 3rd with sold units of 13.
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