Electric PV Sales Surge 95% in September While E-Two-Wheeler Sales Rise 89%

The Federation of Automobile Dealers Associations (FADA) said a total of 333,634 electric vehicles were sold in September. This marked the largest month of EV retail volume ever, while total market penetration climbed to about 13%, up from 10% a year prior. 

This includes passenger vehicles of 36,108 electric units (+94.6% YoY over last September). During the same period, registration of electric two-wheelers was up 88.7% at 207,314 units. 

Tata Motors, Mahindra Lead Electric PV Sales 

Tata Motors sold 14,791 electric passenger vehicles in September, up 100.7% year-on-year. Mahindra & Mahindra recorded 7,780 units, nearly twice its sales from a year earlier. 

The two companies together made up around 63% of electric PV retail. JSW MG Motor India sold 5,242 units, followed by VinFast with 2,964 units and Kia with 1,262 units. 

Electric PV penetration also moved up to 8.5% from 5.7% a year earlier. Sales were 17.6% higher than in August. 

TVS Motor Records 54,037 Electric Two-Wheeler Sales 

TVS Motor was the largest seller of electric two-wheelers in September with 54,037 units. Bajaj Auto followed with 48,429 units. 

Ather Energy recorded 30,533 units, while Hero MotoCorp sold 24,321 units. Ola Electric registered 13,451 units, down 3% year-on-year. 

Electric two-wheeler penetration increased to 11.6% from 8.2% a year earlier. 

Electric Three-Wheeler Sales Rise 40% 

Electric three-wheeler registrations increased 40% to 86,024 units, taking penetration to 64.9%. 

Electric commercial vehicle registrations rose 158.2% to 4,188 units, although they were down 10.9% from August. 

FADA President Sai Giridhar attributed the September growth to festival demand, better running-cost economics, wider model availability and support from PM E-DRIVE and state schemes. 

Read More: CPSE's Capex Reaches 51% of FY27 Target in First Half! 

Conclusion 

September was a record month for EV retail sales. Electric passenger vehicles and two-wheelers made up a large part of the increase, with sales rising 94.6% and 88.7%, respectively. 

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