Electric cars account for a total of 3.30% of the total sales of electric vehicles in December 2022. Witnessing a year-on-year growth of 39%. As the electric vehicle (EV) market continues to grow, consumers are becoming increasingly interested in four-wheeled electric options. In January 2023, the sales data of electric vehicles has shown a significant decline of 1.6% on a month-on-month basis. The year-on-year cover was higher as the EV sales doubled since January 2022 indicating that more and more people are turning to EVs. Auto Expo 2023 was evidence of the growing popularity of E4W.
The electric vehicle (EV) market saw a decline in January 2023, with total sales of EVs reaching 3,318 units, a drop of approximately 11% compared to the previous month. Despite this decline, the market remains optimistic, with year-over-year sales increasing by 10% compared to January 2022.
One company leading the charge in the EV market is Tata Motors, which accounted for nearly 73% of total EV registrations in January 2023, down slightly from its 77% market share in December 2022. Tata Motors’ continued dominance in the EV market is a testament to the company’s commitment to providing high-quality, sustainable vehicles.
Unfortunately, both Tata Motors and MG Motor have seen a decline in sales in recent months. However, despite these setbacks, the overall trend for the EV market remains positive, with continued growth on a year-over-year basis.
The recent decline in EV sales is a cause for concern, but the industry remains optimistic. With companies like Tata Motors leading the charge and year-over-year growth still in positive territory, the future of the EV market looks bright. Consumers and businesses alike are increasingly recognizing the benefits of EVs and their role in creating a more sustainable future, and this trend is expected to continue in the coming years.
Read More:- Electric Two Wheeler Sales Report: January 2023