- FADA Vice President Sai Giridhar highlighted that two-wheelers crossed the 2-lakh mark for the first time at a record 11.2 per cent share, and three-wheelers reached 65.1 per cent share, making electric the default choice.
- Giridhar noted that electric passenger vehicles grew 83 per cent year-on-year but were constrained by supply shortages of in-demand models.
- Giridhar urged manufacturers to resolve the supply issues before the festive rush.
India's electric vehicle (EV) market is witnessing remarkable growth, with retail sales reaching a record 327,901 units in July, marking a 66% year-on-year increase. This surge has established EVs as a significant force in the automotive sector.
The two-wheeler segment led the growth, with sales hitting 204,362 units, an 88.32% increase from last year. This milestone marks the first time two-wheelers crossed the 200,000 mark, achieving an 11.2% market share.
Three-wheelers also saw substantial growth, with retail sales reaching 87,055 units, a 25.3% increase year-on-year, capturing a 65.1% market share. Electric passenger vehicles (PVs) rose by 83.13% to 32,928 units, while electric commercial vehicles (CVs) surged by 168.6% to 3,556 units.
FADA's Giridhar emphasized the importance of addressing supply constraints for electric passenger vehicles, stating, "Every category told the same story in its own way... Three-wheelers, at 65.1 per cent, have made electric the default, not the alternative."1
The previous record was set in June with 306,220 units sold, reflecting a 63% growth over the previous year, pushing overall EV penetration to over 12% for the first time.
“FADA Vice President Sai Giridhar noted electric passenger vehicles grew 83% year-on-year but were held back by supply shortages of in-demand models. He urged manufacturers to resolve the issue before the festive rush to sustain momentum.”
