November saw a 12% decline in sales of electric vehicles following a festival-driven rush.

India's sales of electric vehicles (EVs) dropped 12% in November 2024 to 191,554 units from 219,021 units in October as the festival-driven spike dwindled. However, according to Vahan data from the Ministry of Road Transport and Highways (MoRTH), sales increased 31% year over year (Y-o-Y) from 145,197 units in November 2023.All of the EV sectors showed signs of deterioration, with month-over-month contractions ranging from 5% to 25% for two-wheelers (e2Ws), three-wheelers (e3Ws), and four-wheelers (e4Ws). The biggest decline was seen in the e4W segment, where sales fell 25% from 11,587 units in October to 8,782 units in November.Volumes in the e2W category, which makes up over 60% of all EV sales, decreased by 15% to 118,944 units in November from 139,787 units the month before. The e3W segment, on the other hand, did somewhat better, with the slightest drop of 5% as sales fell to 63,415 units from 67,182 in October.

With a little decrease of less than 1%, Delhi's EV registrations stayed stable in November. November saw 7,091 EV registrations, which is a little less than the 7,141 in October. Although November's numbers indicate a temporary slowdown during the holiday season, the year-over-year gain shows that India's EV adoption trend is still moving forward. In the first 11 months of this year, EV sales nationwide surpassed 1.8 million, demonstrating the increasing popularity of electric vehicles.As the Ministry of Heavy Industries (MHI) restored cargo e3W subsidies under PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) for the balance of the current fiscal year (FY25), this expansion was given a new boost. The subsidy, which was previously discontinued when FY25 yearly targets were met, has been reduced from Rs 50,000 to Rs 25,000 per vehicle.