With petrol and diesel prices touching new all-time highs, the Indian automobile market is witnessing a paradigm shift. More and more automakers are hopping onto the all-electric bandwagon and EV sales have risen significantly as well.
A good indication of this is a recent report from JMK Research (via 91mobiles) that shows that the Indian electric vehicle market registered a massive 240% year-on-year growth in December 2021 in terms of sales.
A total of over 50,800 electric vehicles were purchased during December 2021, according to the report, which is 21% higher than the 42,055 figure from November of the same year. The gap gets even wider when December 2020 is brought into the picture, with only 14,978 new EVs registered across the country during the month.
The main contributors to the impressive growth figures were two-wheeler EVs and three-wheeler EVs, which together accounted for 90.3% of EV sales in December 2021. Both categories had a near equal share, with 48.6% of sales coming in from the electric two-wheelers camp and 41.7% from electric passenger three-wheelers. Electric cars and cargo vehicles, meanwhile, clocked in shares of 5 percent and 4.3 percent share, respectively.
Okinawa, Hero Electric, Ampere Vehicles, Ather Energy, Pure EV, TVS Motors, Benling India, Revolt, Bajaj, and Jitendra New EV Tech were the top 10 companies in the high-speed electric two-wheeler (HS-E2W) space, accounting for 94% of the total registrations recorded in the month of December 2021. This particular market clocked in sales of 24,725 units in December 2021, which is a 10% MoM and 444% YoY jump.
The scene is a lot different in the electric cars segment though, where Tata Motors stood unrivaled, accounting for 93% of the total of 2,522 units sold in December 2021. It is seconded by MG Motors.
Moving on to state-wise distribution, UP led the chart with a share of 23% from the total number of EVs sold last year. It is joined by Maharashtra and Karnataka on the podium, with 13% and 9% shares respectively. The 4th and 5th ranks are held by Rajasthan with 8% and Delhi with 7% contribution.
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