EV Sales Show Mixed Results In June 2024: FADA

The electric vehicle market in India witnessed mixed results in June 2024, according to the latest EV sales data shared by the Federation of Automobile Dealers Associations (FADA). Almost all segments witnessed year-on-year (YoY) growth but a month-on-month (Mom) decline. 

The biggest winner in YoY growth is the electric two-wheeler segment with a staggering 72.49 per cent growth as it sold 79,530 units in June 2024. Compared to May 2024, the sales in June grew by just 3.41 per cent. Ola Electric led the segment with 36,723 units sold in June and a massive 107.57 per cent YoY growth. It was followed by TVS Motor Company (13,904 units) and Bajaj Auto (8,990 units). 

The electric passenger vehicle segment neither saw a YoY nor a MoM growth in June 2024. With 6,894 units sold last month, it witnessed a 13.51 per cent YoY decline and a 9.74 per cent MoM decline. Tata Motors remained at the helm with 4,346 units sold in June 2024. However, this was down from 5,083 units sold in May 2024 and 5,485 units sold in June 2023. MG Motor India came in at second position with 1,405 units, followed by Mahindra who sold 446 units last month. 

With 52,304 units sold in the electric three-wheeler segment, it witnessed an 8.68 per cent YoY growth but a 4.43 per cent MoM decline. Mahindra was at the top with 4,786 units sold, witnessing both a YoY and a MoM growth. Furthemore, sales of electric commercial vehicles amounted to 512 units in June 2024, with the majority share coming from Tata Motors. 

Manish Raj Singhania, President, FADA, said, “June 2024 has highlighted the growing shift towards sustainable mobility, with YoY increases in most electric vehicle categories. However, on a MoM basis, the performance was mixed, reflecting seasonal and environmental challenges.” He added, “As we look forward to the coming months, the steady progress of the monsoon and the government's favourable policies towards green technologies are expected to further boost the electric vehicle market.”