Electric two-wheeler retail sales more than doubled (115 per cent) to 64,363 units in January 2023 against 29,982 units in January 2022, and the market is led by Ola Electric with 18,245 units, followed by TVS Motor with retail sales of 10,404 units.

However, retail sales of Hero Electric and Okinawa declined by 18 per cent and 21 per cent, respectively, according to the latest report by Federation of Automobile Dealers Associations (FADA) on Tuesday.

While Hero Electric sales declined to 6,393 units (against 7,764 units) in January, Okinawa sold 4,404 units (against 5,615 units).

In the electric passenger vehicle segment, total retail sales were recorded at 3,346 units, a growth of 116 per cent year-on-year, compared to 1,547 units in the corresponding month last year.

Tata Motors led the market with 2,426 units last month against 1,404 units in January last year, followed by MG Motor with 425 units (against 59 units) and BYD with 132 units. BMW India also sold 123 units during the month.

However, sequentially, the electric passenger vehicle segment declined by more than 10 per cent due to the market leader Tata Motors registering a decline of 17 per cent. The company had sold 2,926 units in December 2022. MG Motor also recorded sequential decline of more than 12 per cent in January as compared with 486 EVs sold in December.

In the electric three-wheeler segment also, the market declined by three per cent sequentially to 32,911 units in January, compared to 33,949 units in December 2022. However, on a y-o-y basis, the retail sales grew by 73 per cent as the industry sold 18,973 units in January 2022.