Electric vehicle retail sales accelerate three-fold in fiscal year 2022: FADA

NEW DELHI: Total electric vehicle (EV) retails reached 4,29,217 units in 2021-22, a rise of three-fold from 1,34,821 units in the financial year 2020-21, the industry body said.

Total EV sales had stood at 1,68,300 units in the 2019-20 fiscal, it noted. According to the Federation of Automobile Dealers Associations (FADA), electric passenger vehicle retail sales stood at 17,802 during the last fiscal, up over three-fold from 4,984 units in FY21.

Home-grown auto major Tata Motors led the segment with retails of 15,198 units and a market share of 85.37 per cent in the vertical. The Mumbai-based company’s retail sales stood at 3,523 units in 2020-21.

MG Motor India settled into the second place with sales of 2,045 units last fiscal with a market share of 11.49 per cent. It had retailed 1,115 units in the 2020-21 fiscal.

Mahindra & Mahindra and Hyundai Motor India stood at third and fourth places with dispatches of 156 and 128 units respectively, both settling for a market share of less than 1 per cent. M&M and Hyundai had sold 94 and 184 units respectively in the 2020-21 fiscal, FADA data said.

Electric two-wheeler retail sales last fiscal stood at 2,31,338 units, a jump of over five-fold from 41,046 units in 2020-21, it stated.