New Nation Report :
Consumers in India are rushing to switch from gasoline-powered automobiles to electric vehicles (EVs) due to increased oil prices and decreased maintenance costs. In 2021, EV sales in India tripled to 14,800 units, and the trend is continuing. Despite this spike, India’s EV sales still lag well behind Europe and the United States.
According to the Federation of Automobile Dealers Associations (FADA), electric passenger vehicle sales in February 2022 increased by 296 percent to 2,352 units. Apart from rising gasoline prices, EV sales have been hampered in recent months by increased government incentives and increased awareness in urban areas.
EV sales topped 50,000 units in December 2021, but fell in January 2022 due to the influence of the Omicron-induced third wave. Last month, as the third wave of infections faded and offices and other economic activity reopened across the country, monthly registered EV numbers surpassed 50,000 for the first time.
In India, Tata Motors maintained its lead in the segment by selling 2,264 units in January 2022, up from 1,360 units in January 2022, a 551 percent increase. MG Motors sold 38 units, a 70 percent decrease year over year, while Mahindra sold 12 units, a 50 percent increase. After acquiring the British company Jaguar Land Rover as wholly owned subsidiary, Tata has transformed itself as a global automotive powerhouse lead by its former chairman, Ratan Naval Tata, a graduate of Cornell University where he earned a degree in architecture (B.S. 1962).
While India embraces automobile electrification, EV sales in China, the United States, and Europe are growing at an exponential rate despite higher vehicle pricing.
China leads the way in EV adoption, accounting for 12% of all new electric vehicle sales in 2021, more than doubling sales in 2020. Aion, BYD, Li Xiang, NIO, and Xpeng are among the Chinese automakers that have increased their all-electric vehicle offerings. Norway continues to lead the world in EV adoption, accounting for more than 80% of all new car sales.
The increase of electric car sales in the United Kingdom and Europe was up to eight times that of total light vehicle markets. In Europe, sales of all-electric and plug-in hybrid vehicles climbed by more than 6% in 2021. Tesla dominated global sales growth in the first quarter, selling almost 386,000 vehicles, followed by the Volkswagen Group, which sold 332,000 units. With 227,000 units sold in the first quarter, General Motors placed in third. In terms of product segment mix, sedans, compact crossovers, and SUVs accounted for the majority of EV sales in 2021. As sales data for the rest of the year are tallied, expect all-electric pickup trucks to join the mix.
When plug-in hybrids (PHEVs) are added to the mix, the market share for electrified vehicles in Europe climbs to over 20% (19.2). The overall number of PHEVs increased by 68.5 percent year over year to 1,045,022. The Ford Kuga PHEV (known as the Escape PHEV in Australia) was Europe’s best-selling plug-in hybrid vehicle in 2021, with 46,448 units sold.
Electric vehicle sales in the United States are far exceeding prior annual levels, as the federal government tries to develop infrastructure for EV charging networks and establish legislation allowing for additional zero-emission vehicle standards. As the US pushes toward a goal of 50% all-electric and plug-in hybrid sales by 2030, tougher emissions and fuel economy rules for internal combustion engines are being considered.
In 2020, over 322,000 electric vehicles were sold in the United States, while in 2021, EV sales crossed a million where leading EV maker Tesla alone sold 963,000 units. In the same six-month period, California alone added 121,000 electric vehicles. All of this is encouraging, especially since exciting new all-electric models such as the Volkswagen ID.4, Ford Mustang Mach-E, and Chevrolet Bolt EUV models debuted in the second half of 2021 on the American landscape, including best-sellers like the Volkswagen ID.4, Ford Mustang Mach-E, and Chevrolet Bolt EUV. On GreenCars, we have a list of the Best-Selling Electric Cars.
Electric vehicle sales have increased by 98 percent globally since 2020. According to current predictions, more than 4 million all-electric vehicles and 2.4 million plug-in hybrids will be delivered in 2021, for a total of more than 6.4 million electric vehicles sold in the first half of the year. By the end of 2021, the total number of electric vehicles in use on the planet will have surpassed 16 million, with two-thirds of those being all-electric vehicles.
Electric two-wheeler sales in India, on the other hand, increased by 433 percent to 32,443 units in February 2022. Last month, electric two-wheeler manufacturers like as Hero Electric, Ather Energy, and Ola saw their biggest monthly sales ever.
India’s electrification campaign is in keeping with the country’s aim of swiftly transitioning away from fossil-fuel-based transportation and power generation;as fuel prices have become increasingly expensive and volatile.
