Auto Sales FY2023: Electric Vehicle Sales Cross 11 Lakh Units In FY2023

The Society of Manufacturers of Electric Vehicles (SMEV) revealed that over 11 lakh EVs were sold in India in the 2022-2023 financial year. Cumulative sales of all EVs in the country stood at 11,52,021 units with 62 per cent of units sold in the two-wheeler segment. As per Vahan data, electric two-wheeler sales stood at 7,26,976 units (not including low speed scooters) in the year. Sales of low speed scooters (with speeds up to 25 kmph) stood at 1,20,000 units.

Electric two-wheelers accounted for over 60 per cent of EVs sold in India

SMEV noted that the electric two-wheeler sales were down by as much as 25 per cent as compared to minimum targets set by Niti Aayog. The body noted that electric two-wheeler sales fell post the festive season attributing the decline to the sudden withholding of over Rs 1200 crore in subsidies on the pretext of delays in localisation as well as over Rs 400 crore being trapped in allegations of under-invoicing by some premium manufacturers.

Passenger vehicles only accounted for 4 per cent of EVs sold.

Moving to other segments, electric three-wheelers sales stood at 4,01,841 units or about 34 per cent of all EV sales reported on the Vahan portal. Low speed e-rickshaw sales meanwhile stood at 2,85,443 units in the same period.

Passenger vehicles accounted for only about 4 per cent of total EVs sold at 47,217 units in FY2023. Electric bus sales meanwhile stood at 1,904 units.