Cautious optimism prevails as EV market cools
As electric vehicle manufacturers grapple with the withdrawal of subsidies for fleet vehicles and the continued exclusion of private cars from government support schemes, the industry faces significant challenges in maintaining adoption rates and market momentum in the coming years.
4667 Views
Electric passenger vehicle sales in India have been on a downward trajectory, with September 2024 marking a 17-month low of just 6,098 units sold. Month-on-month sales have been declining since March, when subsidies for fleet EVs were discontinued.
Sales in March stood at 9,769 units, but by September, they had plummeted 37% -- when they hit a 17-month low of 6,098 units (excluding a temporary boost during the festive season in October when it crossed the 10,000 mark). EV market leader Tata Motors held a 65% market share for the January-October 2024 period. However, this marks a significant year-on-year ...
This is an Autocar Pro Plus article. Subscribe to continue reading.
RELATED ARTICLES
Gensol EV: Shiny Expo, Silent Factory
Shahkar Abidi
18 Apr 2025
The dramatic unravelling of Gensol Electric Vehicle’s Pune operations—marked by no production, job cuts, and allegations...
How a Bengaluru-based Startup May Have the Answers to Trump’s Worries
Shahkar Abidi
15 Apr 2025
Chara Technologies has commercialized a highly efficient alternative to magnets made from rare earth minerals – whose ex...
India's Multi-Path Road to Clean Mobility
Autocar Professional Bureau
14 Apr 2025
A multiplicity of fuel technologies, from CNG to biogas, from hydrogen to electric vehicles, will power India's green tr...
