E-rickshaw sales rose 89% in February: latest FADA data
- Uttar Pradesh has the most e-rickshaws in the country, followed by Delhi and Bihar
Retail sales of e-rickshaws in India increased by 89% in February compared to the same month a year ago, showed the latest monthly data released by the Federation of Automobile Dealers Associations (FADA). This was the biggest increase in any segment for which FADA reports monthly data. Sequentially, the increase was 7%.
A total of 30,413 e-rickshaws were registered in February, up from 16,122 in the same month a year ago. Each vehicle category reported a double-digit year-on-year rise, with overall retail vehicle sales increasing by 16% compared to the previous year. Three-wheelers as a whole registered an 81% rise. (E-rickshaws come under the three-wheelers segment.)
Overall, retail sales of vehicles are expected to stay strong ahead of the implementation of new pollution norms, along with the wedding season, FADA noted in its report. Starting April, all passenger vehicles will be required to install onboard diagnostics devices (OBD) to monitor emission variations from standard levels, which could lead to an increase in vehicle prices. Manufacturers are expected to roll out discounts and offers before that to clear their inventories.
However, when compared with the pre-pandemic month of February 2020, the FADA report found that the overall vehicle sales were still 8% lower. There was growth in only the three-wheeler (3%)and passenger vehicle markets (16%) compared to February 2020 levels.
There are a number of festivals in March, which, according to FADA, should aid retail sales.
Many people in India's cities and towns now take the environmentally friendly electric rickshaws, or e-rickshaws, instead of the traditional bicycle rickshaws. It is also preferred by many commuters because of their efficiency and convenience. As a result of its progress, India's public transportation system is becoming greener and more efficient.
According to data compiled from Vahan, Uttar Pradesh (403,411) is the state with maximum registered e-rickshaws, followed by Delhi (117,885) and Bihar (108,669) by a wide margin. Only eight states have fewer than 1,000 e-rickshaws registered. In terms of e-rickshaws per million population, Delhi leads with the highest concentration of e-rickshaws among Indian states.
With the new set of subsidies on electric vehicles, the rate at which e-rickshaws are introduced into the transportation sector is expected to quicken in the near future.
Despite the popularity of e-rickshaws, sales in the fiscal year 2022-23 were only half of what electric two-wheelers had achieved, according to data from the Society of Manufacturers of Electric Vehicles (SMEV).
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First Published:7 Mar 2023, 08:00 PM IST
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