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Electric Vehicle Sales Crossed 15.29 Lakh Units in 2023: FADA

FADA- Federation of Automobile Dealers Associations

With a remarkable stride towards sustainable mobility, India witnessed growth in electric vehicle sales, crossing 15.29 lakh units in 2023. According to data released by the Federation of Automobile Dealers’ Association (FADA), EV sales recorded a substantial year-on-year growth of 49.25%, showcasing the nation’s increasing enthusiasm for eco-friendly transportation alternatives.

Electric Two-wheeler Dominating the Market

The 2-wheeler segment emerged as a frontrunner in 2023 as well, with a remarkable 36.09% growth and sales soaring to 8,59,376 units in 2023 compared to 6,31,464 units in the previous year. This surge reflects a growing preference for electric scooters and motorcycles, emphasizing the adaptability and appeal of electric two-wheelers in the Indian market.

Electric Three-wheelers are not Far Behind

Not to be overshadowed, the electric 3-wheeler segment experienced a robust growth of 65.23% year-on-year, with sales reaching 5,82,793 units in 2023, up from 3,52,710 units in 2022. This substantial increase in sales signifies a shift towards electric three-wheelers for last-mile connectivity and commercial purposes, contributing to a cleaner and greener urban transport ecosystem.

E-Commercial Vehicles Gaining Traction

The electric commercial vehicle sector witnessed an astonishing 114.16% year-on-year growth, with sales reaching 5,673 units in 2023, a substantial increase from the 2,649 vehicles sold in the previous year. This surge in e-commercial vehicle adoption highlights the potential for electric alternatives in the logistics and transportation industry, indicating a positive shift towards sustainable practices.

Passenger Electric Vehicles in the Fast Lane

Electric passenger vehicles also experienced a remarkable upswing in 2023, with sales growing by an impressive 114.71%. A total of 82,105 electric passenger vehicles were sold, surpassing the 38,240 units sold in 2022. This surge in the adoption of electric cars suggests a changing consumer mindset and a growing acceptance of EVs as viable alternatives to traditional internal combustion engine vehicles.

Road Ahead

The data released by FADA shows a promising future for electric mobility in India. The significant growth in all segments of electric vehicles indicates a positive response from consumers, driven by environmental consciousness, government incentives, and advancements in EV technology. With continued support and strategic initiatives, India is well on its way to becoming a global leader in electric mobility.

Also Read, Upcoming Electric Vehicles Under 25 Lakh in 2024



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