Electric vehicle (EV) sales increased 25% year-on-year in September. Total electric vehicle registrations (including all segments) stood at 1.49 lakh. In September last year, 1.19 lakh electric vehicles were registered. This year, the figure was 1.47 lakh. A growth of 19% was recorded in the first half (April-September) of the current financial year. A total of 8.37 lakh electric vehicles were registered during this period.
Last year, 7.02 lakh vehicles were registered during the same period. According to the automobile portal, sales of electric passenger vehicles (cars and SUVs) in the first half of the current fiscal year amounted to 43,120 units. Last year, 42,550 electric vehicles were sold during the same period. First quarter sales increased 8.6% to 22,749 units. Sales declined 6% to 20,141 units in the second quarter.
Sales of two-wheeled electric vehicles increased 40% in September, 88,000 sold
Sales of electric two-wheelers in September totaled 88,000 units. It was 63 thousand units in September 2023 and 87 thousand units in August 2024. This means that there was an increase of 40% on an annual basis. Ola Electric’s sales in September were 23,965 units, up from 26,928 units in August 2014. Bajaj sold 18,933 units, up from 16,650 in August, helping Bajaj overtake TVS Motors and take second place. The registration of the three-wheeled electric vehicle was 54,000 units in September. It was 49 thousand units in September 2023 and 52 thousand units in August 2024. This means an increase of 10% on an annual basis.
Electricity consumption of the country’s charging stations has doubled
During the first quarter of the current financial year, electricity consumption at public charging stations (PCSs) for electric vehicles more than doubled on an annual basis. During this period, 17.69 crore units of energy were consumed, which is over 108% on an annual basis. There were 16.82 lakh electric vehicles in India in 2023-24, which increased to 45.75 lakh in July 2024. It is estimated that there will be 5 crore electric vehicles in the country by 2030, whose market can reach Rs 4 lakh crore. There were 1,800 public charging stations in February 2022, which increased to 16,347 in March 2024. India will need to install 4 lakh stations per year to achieve the ratio of one station for every 40 electric vehicles. Total sales (domestic and exports) of Maruti, the largest automobile manufacturing company, increased by 2% in September. A total of 1,84,727 vehicles were sold in bulk. 27,728 cars were exported, 23% more than in September last year. SUVs accounted for 70% of Hyundai’s total sales. This is its record for highest SUV sales in a single month. GNC had a 13.8% share. Kia Motors sold a maximum of 5,351 Kia Sonets in September, 44% more than last year.