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FADA EV sales Data Nov 2024: Which Segment Is Leading EV Revolution In India?
The Federation of Automobile Dealers Associations (FADA) has released November 2024 EV sales data, revealing significant growth across segments. Two-wheelers lead the EV revolution with over 1.19 lakh units sold, followed by three-wheelers, passenger vehicles, and commercial vehicles. The report highlights year-on-year growth, despite month-on-month declines, emphasizing the rising adoption of EVs in India.
Keshav Rajput
Updated Dec 27, 2024, 12:42 PM IST
FADA EV sales Data Nov 2024
The Federation of Automobile Dealers Associations (FADA) has released EV sales data for November 2024, presenting insights into the Two-Wheeler (2W), Three-Wheeler (3W), Passenger Vehicle (PV), and Commercial Vehicle (CV) segments.
Electric Two-Wheelers (2W)
The 2W segment reported 1,19,047 units sold in November 2024, reflecting a year-on-year (Y-o-Y) growth of 29.24% despite a month-on-month (M-o-M) decline of 14.45%.- Ola Electric Technologies: Sold 29,204 units, showing a M-o-M decline of 29.88% (41,651 units in October 2024) and a Y-o-Y decline of 2.89% (30,073 units in November 2023).
- TVS Motor Company: Sold 27,007 units, with a Y-o-Y growth of 40.99% (19,155 units in November 2023).
- Bajaj Auto: Sold 26,203 units, achieving a Y-o-Y growth of 121.25% (11,843 units in November 2023).
The segment’s growth indicates higher demand for two-wheelers due to their utility and efficiency for daily commuting.
Mitull Batraa, CEO and co-founder of Udaan Vehicles, said, “Electric 3W (E3W) is the second-largest EV segment in India in terms of sales volume. It's only behind E2W although when it comes to the transition from conventional vehicles, E3W is the fastest-growing segment in the country. The category recorded YoY growth of 18% in November 2024 with sales stacking at 63,415 units compared to 53,917 units sold in November 2023. Policymakers can further contribute by setting separate funds for EV development while encouraging the entire ecosystem of research, academia, and industry to come together to achieve breakthrough innovations in critical areas of performance.”
Electric Three-Wheelers (3W)
The 3W segment recorded 63,417 units sold in November 2024, marking a Y-o-Y growth of 17.62% despite a M-o-M decline of 5.59%.
- Mahindra Group: Sold 7,134 units, achieving a Y-o-Y growth of 28.45%.
- Bajaj Auto: Sold 6,128 units, reflecting a Y-o-Y growth of 397.81% (1,231 units in November 2023).
This segment remains important for last-mile connectivity and reducing reliance on fossil fuels.
Nitin Kapoor, Managing Director, SAERA Electric Auto, said, We commend the government's PM E-DRIVE Scheme for its transformative role in the making of India's electric vehicle sector. This is a significant opportunity for innovation and growth in the EV market. The scheme’s support for infrastructure development and subsidies will make EVs more accessible and affordable, empowering consumers to make eco-friendly choices."
Electric Passenger Vehicles (PV)
The PV segment recorded 8,668 units sold in November 2024, showing a Y-o-Y growth of 14.58% (7,565 units in November 2023) but a M-o-M decline of 18.30%.
- Tata Motors: Sold 4,224 units, recording a **Y-o-Y decline of 17.71% (5,133 units in November 2023).
- MG Motor India: Sold 3,163 units, showing a Y-o-Y growth of 230.86% (956 units in November 2023).
- Mahindra: Sold 552 units, with a Y-o-Y growth of 2.03% (541 units in November 2023).
The segment benefits from the launch of new models and charging infrastructure expansion.
Electric Commercial Vehicles (CV)
The CV segment recorded 574 units sold in November 2024, marking a Y-o-Y growth of 4.0% despite a M-o-M decline of 33.56%.
- Tata Motors: Sold 332 units, with a decline of 15.9% (395 units in November 2023).
- Mahindra Group: Sold 58 units, recording a Y-o-Y growth of 123.1% (13 units in November 2023).
- Switch Mobility Automotive: Sold 32 units, reflecting a Y-o-Y growth of 357.1% (7 units in November 2023).
This segment is showing growth in urban logistics and public transportation.
The FADA data for November 2024 highlights the continued growth of EV adoption, with the 2W segment remaining the largest contributor. The 3W and PV segments are showing steady progress, while the CV segment demonstrates its potential in urban applications.
To sustain this momentum, investment in technology, infrastructure, and cost reduction will play a key role in advancing EV adoption in India.
(Note: The above sales data has been shared by Federation of Automobile Dealers Associations (FADA) and Times Drive has no responsibility regarding the accuracy of these numbers.)
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