Statsguru: Six charts explain road ahead for electric vehicles in India

The April vehicle sales numbers indicate a slowdown in momentum after a record-breaking year that propelled India into being one of the world’s largest markets for electric vehicles (EVs).

The two-wheeler segment, which helped propel sales in 2022, was also the reason for the slowdown in April. Nearly 20,000 fewer units were sold in April. One of the reasons for this is said to be the controversy related to companies claiming subsidies without meeting requirements for sourcing parts locally. This resulted in overall vehicle sales falling by a fifth (chart 1).