Milestones in Motion: India’s Vehicle sales of 2023 Echo the Nation’s Remarkable GDP Rise

Rakesh Dudhat

vehicle sales GDP

According to official data, a total of 2,27,17,562 vehicles were registered in India during 2023. This includes electric, petrol, and diesel vehicles¹. Let’s break down these numbers further:

Vehicle Registrations in India: A Comprehensive Overview


India witnessed significant growth in vehicle registrations during 2023. As the automotive industry continues to evolve, understanding the trends and numbers becomes crucial. In this blog post, we’ll delve into the details of registered vehicles, focusing on different categories and their usage.

Total Vehicles Registered in 2023

According to official data, a total of 2,27,17,562 vehicles were registered in India during 2023. This includes electric, petrol, and diesel vehicles¹. Let’s break down these numbers further:

1. Two-Wheelers

  • Total Registered: Approximately 5 lakh two-wheelers were registered.
  • Usage: These vehicles cater to both personal and commercial purposes.
  • Electric Two-Wheelers: Around 10 lakh electric two-wheelers were part of this registration surge.

2. Three-Wheelers

  • Total Registered: Over 5 lakh three-wheelers hit the roads.
  • Usage: These are commonly used for public transportation and commercial purposes.
  • Electric Three-Wheelers: The electric three-wheeler segment saw registrations of 55,000 units.

3. Four-Wheelers

  • Total Registered: Approximately 55,000 four-wheelers (including strong hybrids) were registered.
  • Usage: These vehicles serve both personal and commercial needs.
  • Electric Four-Wheelers: The electric four-wheeler category contributed significantly to this number.

4. Electric Vehicles (EVs)

  • Total Registered: EVs, including e-buses, e-cars, e-three-wheelers, and e-two-wheelers, accounted for a substantial portion.
  • FAME II Scheme: The Faster Adoption and Manufacturing of Electric Vehicles in India Phase II (FAME India Phase II) Scheme played a crucial role in promoting EV adoption. It supported 7,090 e-buses, 55,000 e-4 Wheeler Passenger Cars, and 10 lakh e-2 Wheelers¹.


India’s vehicle landscape is evolving rapidly, with electric mobility gaining traction. As we move forward, understanding these registration trends will help shape policies and drive sustainable transportation.

Remember, these statistics are based on official records, and the actual numbers may vary slightly. Stay informed, and keep an eye on the road for more exciting developments in the automotive sector! 🚗🛵🚙🔌

For more details, visit the official Ministry of Heavy Industries website.

¹: Press Release: Total 2,27,17,562 vehicles registered during 2023 including electric, petrol and diesel vehicles

  1. Q: What is the significance of the surge in electric vehicle registrations?
  • A: The increase in electric vehicle (EV) registrations signifies a shift towards sustainable mobility. It reflects growing environmental awareness and the impact of government incentives like the FAME II Scheme.
  1. Q: How does the rise in two-wheeler registrations impact India’s economy?
  • A: Two-wheelers are a vital part of India’s transportation ecosystem. Increased registrations indicate higher consumer spending, job creation in manufacturing, and improved last-mile connectivity.
  1. Q: What challenges do electric three-wheelers face in adoption?
  • A: While electric three-wheelers are gaining traction, challenges include charging infrastructure, battery costs, and range anxiety. Addressing these issues is crucial for their widespread adoption.
  1. Q: How can policymakers encourage more four-wheeler EV registrations?
  • A: Policymakers should focus on expanding charging infrastructure, offering financial incentives, and promoting research and development in EV technology. Collaboration between industry and government is key.
  1. Q: What role do commercial vehicles play in India’s economic growth?
  • A: Commercial vehicles (including three-wheelers and buses) drive logistics, trade, and public transportation. Their registrations directly impact economic productivity and employment.

Q: How Many E-Rickshaws Were Sold in India in January 2024?

A: In January 2024, the electric three-wheeler segment experienced robust growth, with a total of 53,298 electric three-wheelers sold. This marked a significant 54.45% year-on-year increase compared to January 2023. Despite a slight month-on-month decline, the segment continues to demonstrate strong potential[^1^].

Q: What Is the Overall Growth Trend for Passenger Vehicle Sales in 2024?

A: According to Crisil Ratings, India’s passenger vehicle sales are expected to witness a growth of approximately 9-10% in fiscal year 2024. This growth is noteworthy, being around 20% above pre-pandemic peak levels. The driving factors include strong demand and the alleviation of chip shortages in the car market[^2^].

Q: How Many Electric Rickshaws Are Currently on Indian Roads?

A: Presently, there are approximately 2 million electric rickshaws on Indian roads, with an addition of about 15,000 new electric vehicles each month. It’s worth noting that these numbers might be even higher as many remain unregistered. Projections indicate that by 2024, the market is set to sell 925,000 electric rickshaws[^3^].

Q: What Is the Market Size for Electric Rickshaws in India?

A: The market size for electric rickshaws in India was valued at USD 1.29 billion in 2023. This market is anticipated to exhibit substantial growth, with a projected Compound Annual Growth Rate (CAGR) of 9.80% between 2024 and 2032. By 2032, it is expected to reach a substantial value of USD 3.05 billion[^4^].

Q: How Did Electric Two-Wheeler Sales Perform in January 2024?

A: The electric two-wheeler market in India achieved remarkable retail sales in January 2024, surpassing 857,000 units. This marked an impressive 36% year-on-year increase compared to January 2023. Fiscal year 2023 also set a record, with 728,235 two-wheeled Electric Vehicles (EVs) sold.

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