Electric Vehicles are witnessing a massive spurt in adoption in India. The ecosystem has witnessed an impressive 240 percent growth year-on-year in the month of December, in terms of overall EV sales. The EV ecosystem also registered growth on a monthly basis in the month of December.
JMK Research has put out a combined report for the electric vehicle industry for the month of December. The report claims that there has been an increase of 21 percent in terms of month-on-month growth in EV sales. Indians purchased a total of 50,866 electric vehicles in a month. This is the first time that EV registrations have crossed the 50,000-mark in a month.
The Y-o-Y growth is even more impressive. In comparison to December last year, EV sales went up by 240 percent, which is a massive jump considering that the chip shortage factor hasn’t been resolved. However, the industry does benefit from a low base value, when compared to traditional ICE vehicles.
Electric Two-Wheelers
Electric two-wheelers continued to be the growth drivers in December 2021. Passenger-type electric three-wheelers also contributed to the majority of sales. Both together accounted for 90.3% of total registrations in the month. The shares of these categories are followed by e-cars (5%) and then cargo-type electric three-wheelers (4.3%)
Among all the states and UTs, Uttar Pradesh continues to have maximum monthly registered EV sales with a 23% share in overall sales in India in December 2021, clocking over 10,000 units in EV sales making it the first state to break this threshold. Maharashtra has the 2nd highest sales at 13%, followed by Karnataka (9%), Rajasthan (8%), and Delhi (7%), and Tamil Nadu (7%).
The overall electric two-wheeler sales in the country in December 2021 stood at 24,725 units. There is a 10% m-o-m jump and a y-o-y increment of 444% in registrations. The Top 10 players accounted for 94% of the total registrations recorded in the month of December 2021. Okinawa managed to gain lead over Hero Electric after a gap of around 7 months.
Electric Three-Wheelers
The sales of registered three-wheelers (both passenger and cargo-type) in December 2021 stood at 23,373 units, signifying a 29.8% m-o-m increase. Passenger E3W sales increased by 30% m-o-m whereas the cargo E3W sales increased by 33% as from the previous month’s sales.
Electric Four-Wheelers
According to the report, the cumulative sales of e-cars in December 2021 stood at 2,522 units, a m-o-m jump of 64% and a y-o-y surge of 410% in registrations. Tata Motors drove the e-car sales this month, accounting for 93% of the total registrations in December 2021
The post EV sales in India witness 240 percent jump in December, this state takes the crown for maximum registrations appeared first on BGR India.
