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The Federation of Automobile Dealers' Association (FADA) in its latest data has showed that electric vehicle sales registered a 55.2 per cent on-year growth at 1,79,038 units in July 2024 driven by a massive 96 per cent jump in e-two-wheeler sales. The total electric vehicles sales for July 2023 were at 1,16,221 units.

FADA stated that the electric two-wheelers sales in July stood at 1,07,016 units, up 95.94 per cent, from 54,616 units sold in July last year, while the electric three-wheeler sales grew 18.18 per cent at 63,667 units, from 58,873 units year earlier. The commercial vehicle sales during the reporting month were also on an upward trajectory, growing two-fold on a year-on-year basis to 816 units, from 364 commercial vehicles sold in July 2023. Passenger vehicles, however, declined 2.92 per cent at 7,541 units in July, as against 7,768 units in the same month of last year.

FADA President Manish Raj Singhania said the rising market share in the 2W and 3W EV segments for July 2024, with YoY growth rates of 95.94 per cent and 18.18 per cent respectively, and a market share of 7.4 per cent and 57.6 per cent, respectively for the month, is a clear indication of the growing acceptance and demand for electric vehicles in India. The PV segment, while showing a marginal year-on-year decline of 2.92 per cent, maintains a market share of 2.4 per cent, and the CV segment has shown remarkable growth with a year-on-year increase of 124.2 per cent and a current (July) market share of 1.02 per cent.