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Electric vehicle (EV) registrations in September 2024 saw a notable 25 per cent increase year-on-year, though the growth was only marginal on a month-to-month basis. In the first half of the current fiscal year, EV volumes expanded by 19 pe rcent compared with the same period last year.
The total EV registrations (including all segments) in September 2024 reached 1.49 lakh units, up from 1.19 lakh units in September 2023 and slightly higher than the 1.47 lakh units recorded in August 2024. , according to Vahan data.
Electric two-wheeler sales in September 2024 were 0.88 lakh units, a jump from 0.63 lakh units in the same month last year and a slight increase from 0.87 lakh units sold in August 2024.
The electric three-wheeler segment registered 0.54 lakh units in September 2024, compared to 0.49 lakh units in September 2023 and 0.52 lakh units in August 2024.
Ola Electric remained the segment leader in the electric two-wheeler market despite a dip in sales to 23,965 units in September from 26,928 units in August 2024.
Bajaj Auto showed steady progress in the electric two-wheeler space, with registrations rising to 18,933 units in September from 16,650 units in August 2024. This growth pushed Bajaj to second place, ahead of TVS Motor, which recorded 17,865 units in September, a slight increase from 17,441 units in August.
Ather Energy experienced a boost in sales, with volumes climbing to 12,579 units in September 2024 from 10,919 units in August, driven by new launches and business expansion. Meanwhile, Hero MotoCorp saw a decline in its electric two-wheeler sales to 4,174 units from 4,596 units in August this year, and Greaves Electric Mobility posted 2,606 units, down from 2,640 units in the previous month.
In the electric three-wheeler segment, Mahindra Electric Mobility maintained its leadership with 5,030 units sold in September 2024, up from 4,263 units in August. Bajaj Auto followed closely, registering 4,596 units in September, compared to 3,705 units in August.
YC Electric Vehicle saw a slight increase in sales to 3,342 units from 3,296 units in August, while Piaggio’s volumes also increased to 1,573 units from 1,506 units the previous month.
However, electric passenger vehicle (PV) sales, including cars and SUVs, dropped to 5,706 units in September from 6,570 units in August 2024.
For the first half of the current fiscal year, total EV registrations across all segments rose to 8.37 lakh units compared with 7.02 lakh units in the same period last year.
Electric PV sales for the half-year period ending September 2024 were slightly higher at about 42,890 units compared with 42,406 units in the same period the previous year. The growth was driven by strong performance in Q1 of this fiscal year.
Electric PV sales grew to 22,749 units during Q1 FY25, as against 20,932 units in Q1 FY24. However, in Q2 FY25, electric PV sales were slightly lower at 20,141 units compared to 21,474 units in Q2 FY24.
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