Electric passenger vehicle sales plummeted by 10.5% in Jan
1 min read . Updated: 07 Feb 2023, 07:04 PM IST
PremiumElectric passenger vehicle sales dropped by 10.5 % sequentially in January 2022. Carmakers like Tata Motors and MG Motors saw a fall in their sales last month. Whereas, BYD India, BMW India and Hyundai Motor witnessed a rise in their EV sales in January
In contradiction to its positive growth outlook, retail sales of electric passenger vehicles dropped by 10.51 per cent quarter-on-quarter to 3,346 in January 2023. Last month, around 3,739 electric passenger vehicle were sold, stated Federations of Automobiles Dealers Association's latest data.
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According to the automobile body, Tata Motor's electric PV sales were dropped by 17 per cent at 2,426 vehicles in January from 2,926 delivered in December 2022. In addition to this, MG Motor also saw a 12.55 per cent drop in its sale to 425 units against 486 units sold a month ago.
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However, there were some companies that received a rise in its EV sale in January. BYD India reported a 164 per cent growth in its ePV volumes to 132 vehicles compared to the sale of only 50 vehicles in December last year. Moreover, BMW India sales rose to 123 cars against 29 units in December 2022. Hyundai Motor India ePV sales saw a nominal rise from past month. The company sold 111 units in January compared to 91 units sold in December 2022.
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The electric CV sales dropped by 23 per cent to 131 units over 170 units in December last year, according to FADA data.
The e-three wheelers sale also dropped by 3 per cent sequentially to 32911 units in January from 33949 vehicles in December 2022. The automobile agency found no major change in the sale of electric two wheeler vehicles. Their sales stood at 64,363 unit in January this year, against 64,348 units in December 2022, said the FADA data released on Tuesday.
Notably, several electric vehicle manufacturing companies reported a higher quarterly profits in the quarter ending in December amid predictions of rise in electric vehicle sales. Moreover, the central government had announced key decisions supporting the sale of electric vehicles in the country. The government has announced to extend subsidies on batteries for one more year to promote electric vehicle sales. Under the current ecosystem, the downward trend in the EV sales appears to be short-living and may change soon.
(With agency inputs)
