The overall EV sales in May 2023 witnessed a M-o-M increase of 42%. The total registered units during the month stood at 1,57,217 units. On a Y-o-Y basis, EV sales in May 2023 increased by 135% compared to the corresponding month last year.
EV registrations in May 2023 were again driven by e-2Ws (66.63%) and e-3Ws (25.08%) and E-cars (4.08%). Among the states and UTs, Maharashtra (14.42%) secured the number one position in EV registration this month, replacing Uttar Pradesh (14.06%) to the second position. Karnataka attained third spot this month with (11.81%) market share.
According to the Vahaan data, High Speed E2W sales in India surpassed the milestone of one lakh units in a single month for the first time. The overall High Speed E2W sales in India surged by 57% M-o-M in May 2023 to 1,04,755 units.
Ola Electric recorded the highest ever sales in this month with 28,438 units sold. TVS moved to the second position. Ather and Bajaj Auto secured third and fourth positions respectively. Battre Electric made an entry to the top 10 group this month.
The sales of registered passenger and cargo-type E3Ws in May 2023 stood at 39,437 units and 5,173 units with a M-o-M increase of 17% and 16% respectively. Overall E3W sales recorded a M-o-M rise of 17% over last month.
On a Y-o-Y basis, passenger E3W sales in May 2023 increased by 89% and cargo E3W sales increased by more than 100% from that of passenger and cargo-type E3W sales in May 2022. The cumulative sales of the top 8 electric 3-wheeler players across passenger and cargo segments in May 2023 accounted for 40.95% share of the entire E3W market.
The top five players were Mahindra at first place (9.97%), YC Electric second (7.99%), followed by Dilli Electric (5.12%), Saera Electric Auto (5.08%) and Piaggio (4.07%). The total sales of e-cars in May 2023 stood at 7,392 units with a M-o-M rise of 27%.
Tata Motors has been driving the E-car sales with 78% of the market share this month as well. Both Tata Motors and MG Motor have been witnessing an increase in sales this month. Hyundai India registered a staggering increase of 219% compared to the previous month of April 2023.
On a Y-o-Y basis, E-Car sales in May 2023 increased by more than 94% from that of E-Car sales in May 2022.
The total sales of e-buses in May 2023 stood at 274 units, witnessing a M-o-M increase of 226%. On a Y-o-Y basis, E-Bus sales in May 2023 increased by 73% from that of E-Bus sales in May 2022.
Tata Motors is the leader in May 2023 with a 39.78% market share, followed by JBM Auto (18.98%), PMI Electro Mobility (17.52%), Olectra Greentech (14.23%), Mytrah Mobility (7.66%).
