Green vehicle sales more than double in April & May 2015

Green vehicle sales more than double in April & May 2015
Highlights

Green vehicle sales more than double in April & May 2015. The government has been providing various cash incentives to buyers of green vehicles and this move seems to have paid off well. Sales of the same has witnessed an increase of more than two folds in April and May this year with the incentives amounting to Rs. 29,000/- for motorcycles and Rs. 1.38 lakhs for cars respectively.

The government has been providing various cash incentives to buyers of green vehicles and this move seems to have paid off well. Sales of the same has witnessed an increase of more than two folds in April and May this year with the incentives amounting to Rs. 29,000/- for motorcycles and Rs. 1.38 lakhs for cars respectively.

More than 2500 electric two-wheelers have been sold in these two months, which has risen from the 1000 units sold in the same period last year. Manufacturers are expecting the sales to increase even further as the incentive policy becomes more popular with time.

India currently is the largest two-wheeler market for petrol engines producing 18 million units per annum. The electric two-wheeler segment on the other hand has only been able to retail just a few hundred units every month.

The sudden rise in popularity of green vehicles can be directly attributed to the FAME India policy, which stands for Faster Adoption and Manufacturing of Hybrid and Electric vehicles in India. For the first two financial years, the government has allocated Rs. 795 crores to this policy that covers various other vehicles including three-wheelers, buses and light commercial vehicles as well.

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