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EV sales show 88% rise from 2022: Industry heals from 7 months down
Over 900,000
electric vehicle
sales were recorded in India in the first seven and a half months of this year, accounting for about 88 percent of all electric vehicle sales worldwide in 2022. This trend reflects customers' rising embrace of technology as their fears about it fade.9,01,364 EVs were registered in the nation from January to August 18, 2023, according to the government's Vahan dashboard. This represents about 88 percent of the total number of EVs sold in 2022. According to the statistics, 10,24,795 electric vehicles (EVs), including buses,
two-wheelers
, three-wheelers, and passenger vehicles (PVs), were registered in India in 2022.In the fiscal year 2023 (April 2022–March 2023), around 4.5 percent of all two-wheelers sold in the nation were electric vehicles, compared to 1.6 percent for passenger vehicles (PV), according to Hemal Thakkar, senior practise leader and director at research firm Crisil. It was three to four percent for buses.
He said, "The increase has been quite excellent as well in Q1 of FY '24 (April-June 2023). Tata Passenger Electric Mobility's chief product officer and head of high voltage projects, Anand Kulkarni, credited the success of EVs to customers' growing understanding and acceptance of the technology. According to him, a lot of the early queries and worries regarding EVs have been addressed in recent years, and as a result, more and more people are selecting EVs as their main mode of transportation.
"When we started electrification, there were many concerns and a preconceived notion of how the technology would be helpful and useful, etc. I believe many of those questions have received pretty forceful responses over the last three to five years. Additionally, throughout this time, we have observed a considerable evolution in the clients' use cases, he added, according to ThePrint.
He used the 2020 Nexon EV from Tata Motors as an illustration. This vehicle was first purchased as a second or, in some cases, even a third automobile for the family. "This was for folks who were interested in technology but weren't sure they wanted to buy this as their first automobile. Since Tiago's introduction in January, we've witnessed a very important development. This had been going on for a while, but the Tiago had sort of amplified it,” he said.
He gave statistics, stating that 40% of their automobile purchasers were driving EVs as their primary vehicle, indicating that the technology was growing more and more popular. "EVs are no longer being looked at as a supplementary vehicle in the family," he continued.
Industry insiders anticipate a significant increase in sales as infrastructural concerns are addressed, eliminated, and more options are made accessible.