September 2024 marked a robust month for electric two wheeler sales in India jumped 40% compared to the same month the previous year.
Key Highlights
The Indian electric two-wheeler market displayed a remarkable performance in September 2024, reflecting significant year-over-year growth and dynamic shifts among the leading manufacturers. The following article provides a detailed analysis of the sales data for the top electric two-wheeler companies in India for September 2024, illustrating the competitive landscape and the strategies these companies are deploying in response to evolving market dynamics.
| Manufacturer | August 2024 | September 2024 | MoM Change % | Market Share % |
| OLA electric | 12,405 | 10,036 | -23.605% | 28.65% |
| Ather Energy | 4,331 | 4,597 | 5.786% | 13.12% |
| TVS Motor | 9,492 | 4,211 | -125.409% | 12.02% |
| Hero MotorCorp | 4,596 | 4,174 | -10.110% | 11.92% |
| Bajaj Auto | 4,866 | 2,826 | -72.186% | 8.07% |
| Greaves Electric Mobility | 2,741 | 2,651 | -3.395% | 7.57% |
| Bgauss Auto | 1,109 | 1,200 | 7.583% | 3.43% |
| Revolt Intellicorp | 677 | 624 | -8.494% | 1.78% |
| Wardwizard Innovations | 667 | 587 | -13.629% | 1.68% |
| Kinetic Green | 356 | 400 | 11% | 1.14% |
Overview of Market Performance
September 2024 marked a robust month for electric two-wheeler (E2W) sales in India, with an overall jump of 40% in sales compared to the same month the previous year. This growth is indicative of the increasing consumer acceptance and preference for electric vehicles as viable alternatives to traditional combustion-engine two-wheelers.
Top Electric Two-Wheeler Companies in September 2024
The market dynamics show some interesting shifts among the top players, with Ola Electric maintaining the lead despite a significant sales dip, while Ather Energy and Bajaj Auto displayed promising gains, capitalizing on their recent strategic initiatives. Here is a detailed look at the performance of the top electric two-wheeler brands:
Individual Company Insights
- Ola Electric faced challenges with a steep decline in sales from the previous month, reducing their market share significantly. The company is implementing service improvement initiatives in anticipation of the festive season boost.
- Ather Energy saw an upward trend, driven by the introduction of new, more affordable models and strategic partnerships aimed at enhancing their battery technology.
- TVS Motor encountered a downturn in their sales, which they are countering through new initiatives such as making their products available on e-commerce platforms like Flipkart.
- Hero MotorCorp is focusing on expanding its electric vehicle lineup under the Vida brand and boosting its dealership and service network to regain market momentum.
- Bajaj Auto experienced a significant dip but is actively attempting to recover ground with competitively priced new models and an expansion of its retail network.
Market Trends and Future Outlook
The electric two-wheeler market in India is poised for significant transformation. With aggressive pricing strategies, enhanced product offerings, and expanding retail networks, companies are aiming to capitalize on the growing consumer shift towards electric mobility. The upcoming festive season is expected to further stimulate sales, potentially altering the current rankings and market shares.
This period of intense competition and strategic repositioning underscores the dynamic nature of the Indian electric two-wheeler market, promising exciting developments and opportunities for both consumers and manufacturers moving forward.
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