New Delhi, Oct 7 (SocialNews.XYZ) India's electric vehicle market scaled a highest-ever monthly record in September with total retail sales reaching at 3,33,634 units, an increase of 74 per cent year-on-year (YoY), according to the data released by FADA on Wednesday.
Moreover, EV penetration across vehicle categories rose to approximately 13 per cent, compared to around 10 per cent in September last year.
The record performance was driven by strong demand across mass-market segments, particularly electric two-wheelers and passenger vehicles both of which registered their highest-ever monthly retails.
According to FADA President Sai Giridhar, this performance deserves a distinction: unlike the broader market, where September's headline is flattered by a weak year-ago base, the EV number is a clean, absolute record, saying that electric vehicles did not merely grow against last year — they set a new all-time high.
"Festive demand, maturing running-cost economics, a widening choice of models and sustained policy support through PM E-DRIVE and progressive state schemes are together turning the EV from an alternative into a default consideration for a growing set of buyers," Giridhar said.
He further noted that this is no longer a subsidy-led story because it is a demand-led one saying that electric mobility is now a durable thread of the India Growth Story — and September shows it accelerating, not plateauing.
Segment-wise, electric two-wheeler (E2W) retail sales surged to an all-time high of 2,07,314 units, up 88.67 per cent YoY and 13.16 per cent month-on-month (MoM). While penetration improved to 11.6 per cent, compared with 8.2 per cent a year ago.
Meanwhile, electric passenger vehicle (EPV) retail sales touched a new high of 36,108 units with registering 94.56 per cent YoY and 17.63 per cent MoM growth as penetration in the category increased to 8.5 per cent, up from 5.7 per cent last year.
Notably, electric three-wheeler (E3W) retail sales rose to 86,024 units, up 40 per cent YoY and 7.74 per cent MoM. The category's EV penetration remained exceptionally strong at 64.9 per cent.
Similarly, electric commercial vehicle (ECV) retail sales stood at 4,188 units in the month.
While volumes declined 10.9 per cent MoM, sales more than doubled year-on-year with a 158 per cent growth rate as penetration of the category improved to around 4 per cent from 2.16 per cent last year.
Source: IANS
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