EV Sales Report 2023: Electric Vehicle Sale Jump By 49% In India

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The sales of EV in India are gaining traction at a very high pace, as per the annual sales report of FAD, the sales of electric vehicle in India rose to 49% as compared to the previous year. Nowadays, more and more buyers have started trusting the performance of electric vehicles. It is also important to note that now automobile manufacturers in India are also offering feature-rich and performance-oriented electric vehicles in India.

EV Sales Report 2023

EV Sales Reports for the Year 2023

The future of electric vehicles in India is bright, at least we can say this after checking out the sales performance of EVs in the previous year 2023. With rising awareness, increasing fuel prices, and low maintenance and operation costs electric vehicles are getting popular in the Indian automobile market. As per the report of Vahan, the online portal of the Ministry of Road Transport and Highways, around 34.54 Lakh electric vehicles are already registered in India. It means the popularity and adoption of EVs in India witness an upward trend.

As Per the FADA Report Sales of EV in India Witnessed a Surge of 49%

The previous year 2023 marked as a remarkable year for the sales and adoption of EV in India. As per the EV sales report of the Federation of Automobile Dealers’ Association (FADA), the sales of electric two-wheelers surged by 36.09% from 8,59,376 units in 2023 as compared to 6,31,464 units in the year 2022.

FADA DATA

As per the report of FADA, the overall unit of electric vehicles sold in India in the financial year 2023 witnessed a huge surge of 49.25%. The total electric vehicle sales in India in the previous year 2023 reach 15,29,947 units.

Unit Wise EV Sales Report 2023

 As per the FADA Annual Report, electric two-wheelers and Three-wheelers are the most sold EV products in the year 2023. The electric two-wheelers constitute 7% of the total EV sales in India. The electric three-wheeler constitutes 56% percent of the total sales of EV in India.

  • As per the sales report of FADA, the total number of sales of EV passenger vehicles rose to 114.71% to 82,105 units as compared to 38,240 units in the year 2022.
  • Sales of Electric three-wheelers reach 5,82,793 units from 3,52,710 units in the year 2022.
  • The sales of electric two-wheeler reached 8,59,376 units in the previous year 2023 from 6,31,464 units in the year 2022
EV Sales Report 2023
Reason Behind the Popularity of Electric Vehicle In India

The popularity of electric vehicles in India is increasing every day. There are multiple reasons behind the widespread popularity of EV in India like negative environmental effects, increasing fuel prices, and high maintenance and running costs of traditional vehicles with internal combustion engines. Whereas electric vehicles come with very minimal operational and maintenance costs. Apart from being cost-effective, EVs also come with zero tailpipe emissions and helps in reducing air pollution.

EV Sales Report

The government of India is also taking initiatives to promote the adoption of electric vehicles in India. Indian Government is working on setting up EV charging infrastructure on highways, parking lots, etc all across India. Various subsidy schemes, discounts of registration charges etc are offered by the Government to promote the adoption of EVs in India.

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