Electric Car Sales: The survey by LocalCircles said that just 5% may buy electric cars this year out of 4 million total car sales. Majority of the respondents were interested at Rs 8-10 lakh. Of the 40,000 respondents who participated in the survey, 42 per cent are from tier-1 cities, 34 per cent from tier 2 and the remaining 24 per cent from tier-3, 4 and rural areas.
Electric car sales in India fell to their lowest level in five months in February despite price cuts. Lower acquisition cost alone is not enough to encourage buyers to shift to EVs. The government s FAME India scheme is set to end soon and may lead to further sales slowdown.
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Polestar announced that its global electric car deliveries during the fourth quarter of 2023 amounted to approximately 12,800 units (down 39% year-over-year).