EV Sales May 2024: 1,45,608 Units, Down 11.9% YoY
Full Vahan registration report for May 2024 — total volume, month-on-month and year-on-year change, every major EV maker ranked by share, which segments those EVs are in, and the state-wise picture.
How May went
India's electric-vehicle market registered 1,45,608 vehicles in May 2024. Volumes fell back 11.9% against May 2023, and pushed ahead 22.8% on April.
Year to date, 7,86,844 units have been registered across 5 months, +22.3% on the same stretch of 2023 (6,43,304). The segment accounted for 6.6% of every vehicle registered in India that month.
May is the pre-monsoon window — rural demand is still waiting on the first rains.
Monthly EV registrations, 2023–2026
One line per calendar year — the shape of the year, not just its total. The dashed end of the current year is the month so far.
Manufacturer scoreboard
Battery-EV registrations per manufacturer over full-year 2024, and how each company's share of the EV market has moved against full-year 2023.
On share rather than volume — the number that decides who is actually winning — Bajaj Auto has added 7.04pp of the segment in 2024, while Saera Electric has given up 0.46pp.
Top 10 EV manufacturers, 2024
Battery-EV registrations year to date
Exact segment volume per manufacturer over full-year 2024, and the change in share against full-year 2023.
| # | Manufacturer | 2024 units | Share | vs full-year 2023 |
|---|---|---|---|---|
| 1 | Ola Electric | 4,29,191 | 21.18% | +3.64pp |
| 2 | Bajaj Auto | 2,44,816 | 12.08% | +7.04pp |
| 3 | TVS Motor | 2,37,671 | 11.73% | +0.54pp |
| 4 | Ather Energy | 1,36,514 | 6.74% | −0.33pp |
| 5 | Mahindra Last Mile | 67,471 | 3.33% | +2.59pp |
| 6 | Tata Motors (EV) | 64,165 | 3.17% | +0.62pp |
| 7 | Hero MotoCorp | 45,767 | 2.26% | +1.51pp |
| 8 | YC Electric | 43,968 | 2.17% | −0.41pp |
| 9 | Greaves Electric | 35,981 | 1.78% | +0.23pp |
| 10 | Saera Electric | 28,313 | 1.40% | −0.46pp |
| 11 | Dilli Electric | 25,051 | 1.24% | −0.35pp |
| 12 | MG Motor | 23,325 | 1.15% | +0.46pp |
| 13 | Piaggio | 22,136 | 1.09% | −0.28pp |
| 14 | BGauss | 19,417 | 0.96% | +0.20pp |
| 15 | Mini Metro EV | 14,758 | 0.73% | −0.28pp |
Where the EVs are
Two-Wheelers account for 59.9% of every EV registered in 2024 — 12,14,768 units, a share move of +2.97pp against full-year 2023. India's EV transition is still overwhelmingly a two- and three-wheeler story rather than a car one. Cars and UVs are 4.7% of EV volume (95,183 units, −0.31pp).
EV volume by segment, 2024
Share of segment registrations year to date
The full-year 2024 mix.
| Segment | 2024 units | Share | vs full-year 2023 |
|---|---|---|---|
| Two-Wheelers | 12,14,768 | 59.95% | +2.97pp |
| Three-Wheelers | 6,94,971 | 34.30% | −2.72pp |
| Cars & UVs | 95,183 | 4.70% | −0.31pp |
| Taxis & Cabs | 9,960 | 0.49% | −0.13pp |
| Goods Carriers | 6,468 | 0.32% | +0.15pp |
| Buses | 4,080 | 0.20% | +0.03pp |
| Other | 956 | 0.05% | +0.01pp |
| Tractors | 20 | 0.00% | 0.00pp |
Share is of this report's own scope over full-year 2024, compared with the whole of 2023.
Where the demand is
Uttar Pradesh was the largest market in full-year 2024 with 3,69,319 registrations, 18.2% of the segment's national total. Maharashtra (2,41,811) and Karnataka (1,79,224) followed. Tamil Nadu has gained the most ground, adding 0.79pp of the national total.
Segment registrations over full-year 2024, by state.
| # | State | Units | Share | vs full-year 2023 |
|---|---|---|---|---|
| 1 | Uttar Pradesh | 3,69,319 | 18.2% | +0.64pp |
| 2 | Maharashtra | 2,41,811 | 11.9% | −0.33pp |
| 3 | Karnataka | 1,79,224 | 8.8% | −0.80pp |
| 4 | Tamil Nadu | 1,31,461 | 6.5% | +0.79pp |
| 5 | Bihar | 1,12,860 | 5.6% | 0.00pp |
| 6 | Rajasthan | 1,09,392 | 5.4% | −0.53pp |
| 7 | Madhya Pradesh | 1,00,487 | 5.0% | +0.66pp |
| 8 | Kerala | 83,272 | 4.1% | −0.68pp |
| 9 | Delhi | 80,390 | 4.0% | −0.69pp |
| 10 | Gujarat | 75,760 | 3.7% | −1.86pp |
| 11 | Telangana | 75,636 | 3.7% | +0.55pp |
| 12 | Assam | 68,133 | 3.4% | −0.48pp |
Frequently asked questions
How many EVs were sold in India in May 2024?
Which company sells the most EVs in India?
What is the EV market share in India in 2024?
Which vehicle segment sells the most EVs in India?
Which state registers the most EVs in India?
Are these wholesale dispatches or retail sales?
EV sales, earlier months
More from the reports desk
Source. Every figure is a vehicle registration, taken daily from the Ministry of Road Transport & Highways' Vahan 4 dashboard (vahan.parivahan.gov.in) — the same source FADA and the industry use for retail data. Registrations are not the wholesale dispatch numbers manufacturers announce each month. "EV" means battery electric (Vahan fuels PURE EV and ELECTRIC(BOV)); hybrids are counted separately. Information only, not investment advice.
Using these numbers? Cite "Flash Finance (Vahan data)" with a link to this page. This report's chart card is free to republish with the same credit. A free, auto-updating EV registrations widget can go on any website.
