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India's EV Sales Hit Record High in September
8 Oct
Summary
- September saw record EV retail sales of 3,33,634 units.
- Electric two-wheelers and passenger vehicles showed significant growth.
- Overall EV penetration reached approximately 13% in September.
September marked a significant milestone for India's electric vehicle market, with retail sales reaching a record 3,33,634 units. This represents a substantial year-on-year increase, driven by exceptional growth in electric two-wheelers and passenger vehicles. The electric two-wheeler segment, in particular, saw an 88.67% rise, while passenger EVs experienced a 94.56% surge.
This unprecedented sales figure has pushed overall EV penetration in the Indian market to approximately 13%. Factors contributing to this rapid adoption include robust festive season demand, improving cost-effectiveness of electric vehicles, and the availability of a wider range of models. Government initiatives like the PM E-DRIVE program also continue to provide crucial support.
Electric three-wheelers also demonstrated strong sales, with penetration reaching 64.9%. Although electric commercial vehicle retail saw a month-on-month dip, it posted an impressive year-on-year growth. Data from FADA indicates a broad-based expansion across all major EV categories.
