E2W Sales Sees Growth After Four Months If we look at company wise data, the market leader Ola Electric whose IPO has opened today, recorded 114 per cent YoY growth with 41,597 units sold in July 2024
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After four months of witnessing reduction in sales, electric two-wheeler industry has seen 34 per cent month-on-month increase in the sales with 106,949 unit sold in July as compared to 79,868 units in June this year.
With this, there has been a 96 per cent year-on-year increase when compared to 54,616 units sold in the same period last year. The growth comes in the backdrop of now extended Electric Mobility Pormotion Scheme (EMPS) 2024 which was to be expired on July 31.
The two-wheeler segment maintained the strong ratio at a 60 per cent share of the total 1,78,948 EVs sold in India in July 2024, and helped drive overall industry numbers by 53 per cent YoY, as per data published on the government of India's Vahan website on August 1.
The seven-month retail sales data table reveals that the lowest monthly sales in the year to date were in April 2024 – 65,529 units – following the closure of the FAME II subsidy scheme on March 31. This also explains why March 2024 with 140,309 units was the month with the highest-ever e-two-wheeler sales.
If look at company wise data, the market leader Ola Electric whose IPO has opened today, recorded 114 per cent YoY growth with 41,597 units sold in July 2024
While its market share in July is 39 per cent, its cumulative seven-month sales give it an overall market share of 42.53 per cent.
TVS Motor Co sold 19,471 iQube e-scooters in July 2024, improving 87 per cent on year-ago sales and 39 per cent on June 2024's 14,015 units. This gives it a market share of 18 per cent in July.
Bajaj Auto saw 17,642 Chetaks being retailed, which makes for a 375 per cent YoY increase on a low year-ago base was the seventh month in a row that Bajaj has outsold Ather Energy.
Ather Energy sold around 10,080 units in July which give company a market share of 9.42 per cent. Hero MotoCorp sold around 5,044 units in July which give company a market share of 4.71 per cent.
Meanwhile, Greaves Electric Mobility sold 3,154 units in July which has taken its sales up by 46 per cent, giving it a market share of 3 per cent.
