FADA: Tata Motors, Ola Electric leads EV sales in May 2024

Gajanan Kashikar Updated: June 14, 2024, 03:13 PM IST

The Federation of Automobile Dealers Associations (FADA) has revealed monthly sales data of the two-wheeler and four-wheeler electric vehicle (EV) segment in India. In May 2024, the EV industry witnessed a modest recovery across various segments following the conclusion of FAME II incentives in March this year. While the electric two-wheeler segment sales saw a two-digit growth, the four-wheeler EV segment reported a single-digit sales growth, compared to April 2024.

Electric two-wheeler sales

The electric two-wheeler segment sales went up by 18.12 per cent to 76,907 units in May 2024 from 65,111 units of April 2024. However, the sales declined by 27.5 per cent as against 1,05,564 units sold in May 2023.

Coming back to the last month's data, Ola Electric emerged as the highest-seller electric two-wheeler brand. It reported a 9.60 per cent month-on-month growth to 37,225 units. Following the Ola Electric, TVS sold 11,788 units, Bajaj Auto sold 9,214 units, Ather Energy sold 6,045 units, and Hero MotoCorp sold 2,456 units.

While Hero MotoCorp sales surged by 159.35 per cent, TVS Motor Company sales went up by 53.59 per cent in the last month, compared to April 2024.

Electric four-wheeler sales

The four-wheeler electric market recorded an overall sales of 7,638 units as against 7,415 units in April 2024. Although it reported a 3.01 per cent increase in month-on-month sales, the year-on-year sales went down by 1.24 per cent.

Tata Motors maintained its streak to keep the top spot as it sold 5,038 units sold, a mere 2.56 per cent increase compared to 4,956 units of April 2024. At the second spot, MG Motor India registered a sales of 1,441 units with a 19.78 per cent growth as against 1,203 units of April 2024. Then, Mahindra & Mahindra saw a 10.33 per cent drop in sales to 564 units from 629 units of April 2024.

In the electric passenger vehicle segment, BMW India reported the highest-ever growth of 33.33 per cent among the carmakers, while Porsche sales dipped by 75 per cent in the previous month.