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EVs account for 8% sales of total vehicle sales in May: FADA report
Two-wheelers, three-wheelers, passenger vehicles, and commercial vehicles grew by 9 per cent, 79 percent, 4 percent, and 7 percent, respectively. The 2-wheeler sales were positively influenced by seasonal factors like the marriage season, changes in the FAME subsidies effective from June, and the recovery of rural demand, which hint towards a promising future in the aftermath of the COVID-19 pandemic Auto retail sales in India witnessed a 10 percent year-on-year (YoY) growth in May, according to the latest data from the Federation of Automobile Dealers Associations (FADA). Electric Vehicles (EVs) have made impressive strides this month, contributing to 8 percent of the total vehicle retail, claims the FADA report. This was buoyed by a surge in 2-wheeler EV sales that contributed 7% and 3-wheeler EV sales contributing a substantial 56 percent of their respective total sales. Furthermore, the CV and PV categories also marked their presence in the EV landscape, with respective contributions of 0.5 percent and 2.5 percent, as per the data by auto retail body. Source - Money Control
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