EV retail sales jump Three-Fold in FY22 in India
By MYBRANDBOOK
According to the Federation of Automobile Dealers Associations (FADA), electric vehicle retail sales in the country witnessed over three-fold jump last fiscal with two-wheeler offtake leading the segment.
Total EV retails reached 4,29,217 units in 2021-22, a three-fold rise from 1,34,821 units in the financial year 2020-21. Electric passenger vehicle retail sales stood at 17,802 during the last fiscal, up over three-fold from 4,984 units in FY21.
Home-grown auto major Tata Motors led the segment with retails of 15,198 units and a market share of 85.37 percent in the vertical. The company's retail sales stood at 3,523 units in 2020-21. MG Motor India settled into the second place with sales of 2,045 units last fiscal with a market share of 11.49 percent.
Mahindra & Mahindra and Hyundai Motor India stood at third and fourth places with dispatches of 156 and 128 units respectively, both settling for a market share of less than 1 percent. M&M and Hyundai had sold 94 and 184 units respectively in the 2020-21 fiscal.
Electric two-wheeler retail sales last fiscal stood at 2,31,338 units, a jump of over five-fold from 41,046 units in 2020-21. Hero Electric led the segment with sales of 65,303 units, grabbing 28.23 percent share in the domestic market, followed by Okinawa Autotech retailing 46,447 units last fiscal. Third place was taken by Ampere Vehicles with sales of 24,648 units.
FADA said that total electric three-wheeler sales last fiscal stood at 1,77,874 units, registering an increase of two-fold over 88,391 units in the preceding fiscal. The electric commercial vehicle sales rose to 2,203 units last financial year as compared with 400 units in FY21.
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