The electric vehicle seems to be outpouring in sales. While reportedly it achieved a praising point by selling 1 lakh vehicles this year. This frequent sale is the result of several factors. And out of many, one of the major reasons is the ongoing war between Russia and Ukraine, which made the oil barrel prices on higher nodes continuously. The price, as of November 4, 2022, of WTI crude oil is 92.61 per barrel.
And thus it burdens the pockets of normal citizens as increasing fuel prices become a reason for worry. While EVs bring relief to the mobility segment of India. Notably, on average 140 EVs are registered on a daily basis.
Additionally, the Indian economy’s automotive industry presently ranks 5th worldwide. Whereas, by 2030 it is predicted to be in third place. At the same time, electric vehicles have started. Instead of the fact that the superiority of vehicles still running on gasoline.
Believing in numbers then, in October 2022, the aggregate EV sales grew month over month by 28.1% to 1,19,889 units. While the year-on-year increase of over 200%. Noticeably, electric sales got a major jump in 2022, which records 200% for all two-wheeler, three-wheeler, and four-wheelers.
Top Players in EV Two-Wheeler
| Company Name | OCT 22 Sales |
| Ola Electric | 16178 Units |
| Okinawa Au | 14924 Units |
| Ampere Vehicles | 10053 Units |
| Hero Electric | 8861 Units |
| Ather Energy | 7306 Units |
Facts and Figures 2W Sales
As depicted by the above numbers, it seems that the market for electric two-wheelers is exploded and expanding very rapidly. Since the retail sales in the first quarter of FY2022 exceeded 1 lakh. That’s a clear-cut indication that customers maturing and growing in acceptance of EVs.
The sales of high-speed electric two-wheelers touch 122,015 units in the first quarter of FY2022. It comes out to be an average of 40,672 units sold monthly.
Top Players in EV Four-Wheeler
- Tata Motors
- MG Motor India
- Hyundai motors Ltd
- BYD India
Facts and Figures 4W sales
Talking about the overall number of Electric four-wheelers sold in October 2022 was 4,984 units. It records an up of 17.6% month over month. While more than 2.8 times year over year in registrations. The E-car has been chasing in terms of sales of Tata motors, also this month sales witnessed more than 80% of the E-car sales.
On the other hand, Hyundai was the second one to record modest growth in E car sales this month. Other than, Tata Motors and MG Motor. This month marked the beginning of Kia Motors EV sales.
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