Consumer Mindset, Incentives, and Festive Offers Behind Sept EV Sales Growth For the first half of the current fiscal (FY25), total EV registrations across all segments rose to 8.93 lakh units compared with 7.45 lakh units in the same period last year.

The electric vehicle registrations saw 23 per cent year-on-year (YOY) rise as EV volumes rose 20 per cent compared to the same period last year, according to government's VAHAN data.

According to the data, two-wheeler sales were recorded .90 lakh units in the month of September from .64 lakh units in the same period last year.

The sector witnessed a 13 per cent low in comparison with July. This month's growth has been attributed to many factors including consumer awareness, festive offers, shift towards EV and government incentives with respect to newly launched PM E-Drive scheme.

Jaibir Siwach, CEO of Kabira Mobility said that the growth of the electric vehicle (EV) market became obvious in the month of September, and this growth is due to a number of reasons.

"To begin with, various government policies and incentives have been effective in prompting people to consider the possibility of owning an EV. Automotive models of EV have also raised this increased market," he said.

Rising awareness about the environment has forced the light of carbon footprints, compelling both consumers and governments to go for clean energy solutions. It is also furthered by a large number of government incentives in the form of subsidies and tax benefits that make EVs more affordable and attractive to a larger market.

Aditya Singh Ratnu, CEO of ZEVO said, "Progress on battery technology has also increasingly made EVs commercially viable. Further, batteries are becoming ever more effective, affordable, and more capable of travelling long distances. These are the major concerns of a consumer when making a decision based on driving range and charging infrastructure. All these technological improvements, along with an increasing network of charging stations, improve the overall user experience."

Zelio Ebikes, a Gujarat-based-manufacturer of electric two-wheeler has attributed this growth to heightened awareness of sustainability and financial advantages of switching to electric vehicles.

Kunal Arya, Co-Founder and Managing Director of the company said,"The rise in September's EV sales, even during the traditionally slow month of 'Shradh', highlights the resilience of the electric mobility sector. We attribute this growth to the heightened awareness of sustainability, paired with the financial advantages of switching to electric vehicles. The strategic discounts and offers rolled out by manufacturers undoubtedly encouraged consumer confidence, but there's also a clear shift in mindset."

"Additionally, government incentives and schemes like PM E-DRIVE have positively impacted the market, reinforcing the adoption of electric two-wheelers. As we enter the festive season, we expect even more boost in sales, driven by new product launches and consumer demand for greener, smarter mobility solutions," he added.

Meanwhile, Mukesh Taneja, Co-Founder and Managing Director of GT Force said that we recognize that this recovery reflects the underlying strength of the electric two-wheeler market, where consumers are not just influenced by short-term offers but are increasingly committed to the long-term benefits of electric mobility.

"The drop in August created an opportunity for manufacturers to push with more aggressive strategies, including discounts, which helped boost September numbers," he said.

While electric two wheeler saw a rise in the sales, the electric three-wheeler segment has also grown to 0.63 lakh unit, compared with 0.58 lakh units in the same period of 2023, as per the data.

For the first half of the current fiscal (FY25), total EV registrations across all segments rose to 8.93 lakh units compared with 7.45 lakh units in the same period last year.

Recently, the central government has also come up with PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme with an outlay of INR10,900 crore over a period of two years. The scheme will also play a significant role in shaping the EV adoption in the country.