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In April 2024, electric vehicle (EV) sales in India showcased an overall decrease across different categories compared to March 2024. Electric two-wheelers (E2W) substantially decreased from 139,288 units in March to 65,057 units in April. Similarly, E-rickshaw sales experienced a decline from 37,352 to 31,796 units.

A new report by JMK Research says annual electric vehicle sales in India touched 1.67 million units in FY 2024, 42% up year-on-year. Among all segments, electric cars registered maximum YoY growth of 90% despite the availability of limited models in this segment. #DistributedStorage #ElectricVehicles

Electric vehicle (EV) sales in India have been on the rise, showing a significant growth of over 40% in the fiscal year 2023-24. #newsupdates #newsflash #newsupdate #newsfeed #businessupdates #businessupdate #businessnews #business #indianews #electricvehicles

►India’s EV sales (Passenger Vehicle) nearly doubled in 2023. ►Although, EVs accounted for 2% of the overall PV sales. ►This was driven by rising consumer interest, government initiatives, infrastructure development, and concerns over climate change. ►Projections for 2024 show EV sales rising 66% to constitute 4% of total passenger vehicle (PV) sales, driven by new entrants and government subsidies. ►With a strong portfolio and strategic tie-up with Uber, Tata Motors held more than two-thirds of the country’s EV market in 2023 but lost some share to Mahindra & Mahindra and BYD. ►Mahindra’s growth can be attributed to its aggressive marketing efforts around the all-electric SUV XUV400 launched in 2023. ►BYD, with just two models in its India line-up – e6 MPV and Atto 3 SUV, grew over 1500% in 2023. ►Despite belonging to the premium category, BYD secured a position among the top five EV brands in India, showcasing remarkable success in the growing EV market. ►By 2030, EVs are expected to represent nearly one-third of India’s PV market, signaling a robust long-term growth trajectory in the country’s automotive sector.

FADA Report: India’s electric vehicle sales surged 49% in 2023: Date: January 12, 2024. — In 2023, India experienced a substantial surge in electric vehicle (EV) sales, marking a 49.25% year-on-year increase to reach 15,29,947 units, as reported by the Federation of Automobile Dealers’ Association (FADA). This notable growth surpassed the total sales of 10,25,063 units recorded in 2022. Within the EV market, the two-wheeler … The post FADA Report: India’s electric vehicle sales surged 49% in 2023 appeared first on Telematics Wire.

#India leads in #ElectricVehicle sales amid global slowdown. ➡ The growth of electric vehicle sales is facing significant challenges globally, as noted in a recent Goldman Sachs report. ✅ Factors affecting this growth include high capital costs, election uncertainties, and a shortage of rapid-charging stations. ➡ In the #UnitedStates, Kelley Blue Book reported that over 200,000 new EVs were sold in the first quarter of 2024. ✅ Although EV sales accounted for 7.3% of all new car sales, this represents a decline from 7.5% in the fourth quarter of 2023. ➡ In #Europe, new electric car sales fell by 11.3% in March, according to the European Automobile Manufacturers' Association (ACEA). ✅ Germany, the largest EV market in Europe, experienced a 29% drop in EV sales. ✅ This decline is partly attributed to the timing of the Easter holidays. ➡ Meanwhile, sales of hybrid electric vehicles (#HEV) and plug-in hybrid electric vehicles (#PHEV) are on the rise, outpacing EV growth in recent months in the United States. ➡ What's Happening in India? ✅ India continues to show remarkable growth in EV sales. ✅ According to JMK Research & Analytics, the Indian market registered over 1.7 million units sold in the fiscal year 2024. ✅ Passenger vehicle sales in India increased by 10% in 2023, while EV sales doubled, accounting for 2% of total passenger vehicle sales. ✅ Counterpoint Research predicts that EV sales in India will rise by 66% in 2024, and their market share in the passenger car segment will double from 2% to 4% in 2023. ✅ It is expected that EV sales will comprise one-third of all passenger vehicle sales in India in the coming years. 👉 It is evident that while some regions face challenges, others like India are capitalizing on growth in the electric vehicle sector. #EVs #Automotive #SustainableMobility #Innovation #GreenEnergy #India #UnitedStates #Europe #ElectricTransport #SustainableFuture

Electric Vehicle Business Plan for India https://lnkd.in/fAPY9Nu ACG is an expert in Electric Vehicle Business plans for the Indian market. The EV plan is available for Two Wheeler, Three Wheeler, Truck, Bus, and Car segments. There are two versions available of the Business plan- the Standard and Customize plan. We also prepare the Business plan for other traditional vehicle segments, Suppliers, and Dealer Businesses. 1. Executive Summary Market Overview Problem Market & competition 2. Business Opportunity Solution of Problem Our Business solution Validation Future strategy & Plans 3. Detail Market analysis Key Market highlights Current and Forecast of Market size Segment and Subsegment Analysis Competitor Analysis Product Analysis Pricing Analysis Product and Market Challenge Our Business Solution benefits Gap Analysis Brand Analysis Our Product USP 4. Execution Budget Market & Sales Plan, Target Market Share Target market segment Technology Product Costing Production Plant setup cost Implementation Contingency plan 5. Financial Chapter ROI P&L Projected Revenue and Profit Expenses 6. Our Recommendation 7. Conclusion #electricvehicle #cars #venturecapital #automotiveindustry #automotive #bev #businessplanning #strategy #cars #usa #europe #india #china

Electric vehicle sales to grow 33% in 2025 to 85m units

1.66 million electric vehicles were sold in India this FY2024, a massive 41% year-on-year increase. EV sales has now crossed the tipping point in India, and is currently at 6.78 percent of the overall market of 24.52 million vehicles. The EV market in India is expected to grow at a CAGR of 49% between 2022-2030. Sooorya EV is now incorporated in India and will ‘Make In India’, contributing towards Sustainable Mobility & ‘Energy Independence’ by 2047… “India, which is the third-largest automobile market in the world, is among the global markets which are aggressively driving awareness and adoption of EVs as a countermeasure to its serious air pollution problem. As is known, India is home to over 20 most polluted cities in the world. By 2030, the government has targeted EVs to account for 70% of commercial vehicle sales, 30% of passenger vehicles, 40% of buses and 80% of two-wheelers and three-wheelers. The past four-odd years have shown how India EV Inc has evolved when it comes to the overall electric mobility ecosystem. From the growing number of new EVs being launched, the enhanced level of R&D, significant investment from component manufacturers in making EV parts and creating a robust supply chain, gradual expansion of EV charging infrastructure through to exclusive EV retail showrooms from OEMs and both the Central and most State governments rolling out EV-friendly policies for EV manufacturing as well as EV buyers, the EV market dynamic is here to stay in India.” Read more in this article by Ajit Dalvi Autocar Professional #india #electricvehicles #ev #sooorya #soooryaev #emobility

Do Canadians have an appetite for electric vehicles? Experts are divided The electric vehicle manufacturing plant coming to Alliston, Ontario, marks the most recent funding push that the province has made to ramp up EV supply. But, as more cars are poised to hit the market in the future, do Canadians have an interest in buying them in the first place? Noor Ra’fat Ibrahim looks at where the Canadian consumer appetite for EVs currently stands – Apr 25, 2024 A recent national survey by AutoTrader found that EV interest in car buyers has plummetted two consecutive years. So far in 2024, 46 per cent of respondents who don't own an EV said they would buy one. That number is down from 56 per cent interested in 2023, and 68 per cent in 2022.