EV registration fell to a 14-month low: August EV sales data

Total EV (electric vehicle) registrations fell to a 14-month low in August, with month-on-month and year-on-year sales declines, according to a report by the Hindu Businessline. Both electric two- and three-wheelers reported lower volumes than in July. However, electric three-wheelers outsold electric two-wheelers in terms of volume during the previous month, the report further suggested.

The total electric vehicle registrations in all categories combined stood at around 1.06 lakh units in August, down by 17%, over 1.28 lakh units in July, according to Vahan statistics.

Sales of electric two-wheelers reduced significantly, with registrations dropping to 46,085 units in August, compared to 61,498 in July and 62,646 in August 2023. Electric three-wheelers outsold two-wheelers last month, at 54,861 units, but this was lower than the 59,151 units sold in July and 56,581 units sold in August 2023.

Market leader Ola Electric's volume declined to 12,628 units in August from 18,602 in July in the electric two-wheeler sector. TVS Motor remained the second largest seller and sold 9,514 vehicles, down from 11,555 in July 2024. Sales for Bajaj Auto also dropped to 4,899 units in August vs 7,797 in July. While Ather Energy sold 4,278 units against 6,076 units, Hero MotoCorp despatched 4,742 units against 5,060, Greaves Cotton's sales declined to 2,816 units against 3,158 units.

In the electric three-wheeler class, Mahindra Electric Mobility dominated the market with over 4,500 units sold in August, down from 6,504 in July. Bajaj Auto followed with 4,030 units, an increase from 3,694 in July. YC Electric Vehicle sold 3,545 units, a tiny decrease from 3,651 units, while Piaggio's sales fell to 1,558 from 1,959 units. TI Clean Mobility, the Murugappa Group's electric car business, sold around 598 units in August, a modest increase from 580 units in July.

Electric car registrations fell to 4,755 units in August from 6,855 in July.