This year, India’s electric vehicle market has seen a boost during the October festival season. Which has reversed the drop that had been occurring for two months.
Registrations almost reached 217,716, which represents a recovery of 35 percent compared to the 160,237 units sold in September. This is also the highest monthly sales figure ever recorded.
This new high also surpasses March’s 213,063 units, a figure that grew thanks to the rapid adoption of electric vehicles and the final days of the second phase of the manufacturing plan, showing how much demand has accelerated this year.
According to vehicle data from the Ministry of Road Transport and Highways, the latest count marks the second time in 2024 that monthly sales of electric vehicles surpassed the 200,000 mark, taking total electric vehicle registrations past the milestone of 1. 6 million.
Electric two-wheelers remained the largest segment, with sales of 954,241 units or 59 per cent of the total electric vehicles. This was followed by electric three-wheelers, whose sales rose to 568,419 units or 35 percent. Electric cars were far behind with 83,802 units, while buses, trucks and construction vehicles accounted for the last 1 percent.
