Electric Passenger Car Market Share in India Doubled in March 2023: FADA

Electric passenger automobile market share doubled in March 2023. According to the Federation of Automobile Dealers Association (FADA), the year-on-year (YoY) market share of electrical passenger autos has doubled to 2.6 % in March, towards 1.3 % in March 2022.

FADA is the apex nationwide physique of the auto retail business in India engaged within the sale, service and spares of two- or three-wheelers, passenger vehicles, utility autos, industrial autos and tractors.

According to FADA’s information for electrical autos, retail gross sales of electrical passenger automobile (PV) in March 2023 has seen a YoY progress of 130 %.

A complete of 8,566 electrical passenger autos had been bought in March 2023 as towards 3,718 models bought a yr earlier. In phrases of month-on-month (MoM) gross sales, it has seen an 87.85 % progress. During February this yr, a complete of 4,560 electrical passenger autos had been bought.

Tata Motors tops the sale chart by promoting 7,137 electrical passenger autos out of the overall of 8,566 models bought in March.

According to FADA, automobile retail information have been collated as on April in collaboration with the Ministry of Road and Transport and have been gathered from 1,349 highway transport workplaces out of 1,435 RTOs.

Sales of electrical two-wheelers have seen a 57.71 % YoY progress throughout March 2023. A complete of 85,793 electrical two-wheelers had been bought in March this yr, towards 54,400 models bought in March 2022. The market share of electrical two-wheelers grew to five.9 % from 4.2 % in March 22.

Sales of electrical three-wheelers have seen an 82.21 % YoY progress throughout March. A complete of 45,229 electrical three-wheelers had been bought in March this yr, towards 24,823 unit bought in March 2022. The market share of electrical three-wheelers grew to 52.1 % from 48.2 % in March final yr.

Sales of electrical industrial autos have seen a 171.32 % YoY progress throughout March 2023. A complete of 350 electrical industrial autos had been bought in March this yr, towards 129 models bought in March final yr. The market share of economic electrical autos grew to 0.38 % from 0.15 % in March final yr.