PANAJI
Not all is well with the automotive industry. While overall vehicle sales are gradually slowing down, electric vehicles (EVs) are also losing momentum at an alarming rate. The record for the first five months of this fiscal year explains the full story.
From April to August 2024, the number of vehicles purchased was about 2,344 units fewer than during the same period last FY. The most worrying sign, however, comes from the EV market. Once hailed as the future of transportation, its sales have plummeted -- falling to nearly a quarter of what they were during the corresponding months in 2023-24 FY.
The data with The Goan reveals that in the 2023-24 FY, 59,084 non-electric vehicles were sold compared to 10,772 EVs. On an average, about 4,923 non-electric vehicles and 897 EVs were sold each month during that period. The sales were termed impressive as a shift post-Covid when the focus on EVs accelerated.
Whereas in 2024-25 FY, the monthly average indicates that 4,546 non-electric vehicles and 805 EVs have been sold. A total of 4,026 EVs have been purchased up to August, with two-wheelers accounting for the majority at 3,494, followed by cars and jeeps at 525 and ‘other vehicles’ at 7. In comparison, approximately 22,730 non-electric vehicles were sold, with two-wheelers again dominating at 14,870, four-wheelers at 7,802, and 58 classified as other vehicles.
These details exclude the rental, goods and emergency vehicles and public transportation.
Officials state the rising interest in hybrid vehicles is reportedly offering a fresh pathway to EV adoption. At the same time, the debate intensifies over the necessity of fully electric vehicles, especially given the compliance of BS-VI engines, the norm set by the Central government. These engines, which significantly reduce harmful pollutants, prompted questions about whether EVs are needed when internal combustion engines are becoming nearly pollutant-free.
Moreover, despite focusing on improving EV infrastructure and raising consumer awareness, officials state that concerns about the high cost of battery replacement and the low availability of public charging stations remain key barriers to EV adoption.
Amid these challenges, hybrid vehicles are gaining traction in the market. “There is more demand for hybrids now as they offer a combination of electric and fuel power, which is efficient. Moreover, BS-VI vehicles are in high demand,” said Assistant Transport Director headquarters.
