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Over one million electric two-wheelers sold in 2024 https://ift.tt/DTJKvc0 Retail sales of electric scooters and motorcycles have surpassed the 1 million-unit milestone for the first time in a year. As per the latest Vahan data (as of November 12, 2024, 8 am), cumulative retail sales between January 1 and November 11 stand at 1,000,987 units. The e2W segment, with 10,00,987 units, holds the largest share of 59.54 percent of the 1.68 million EVs sold in India across all vehicle segments between January 1 and November 11, 2024.   At the end of October 2024, India E2W Inc. needed just 45,856 units more to achieve the million sales milestone, which it achieved in the first 11 days of November.  With exactly 50 days remaining for CY2024 to come to a close, it can be surmised that, given the current sales momentum, India's e2W Inc. will close the year with record sales in the region of 1.1 million to 1.2 million units. This will constitute a 34 percent year-on-year increase over CY2023’s 8,60,410 units.  CY2023 itself saw a 36 percent YoY increase over CY2022’s 6,31,398 units. Considering that a total of 1,56,325 e-two-wheelers were sold in India in CY2021, CY2024’s million-plus units (10,00,987 units) already reflects a 540 percent increase over four years, pointing to the rapid growth of this vehicle segment. Also See: Ola retains market lead in October EV sales Ola, TVS, Bajaj and Ather command 83 percent of the market As per Vahan retail sales data for the year to date, four EV manufacturers have registered six-figure sales: Ola Electric, TVS Motor Co., Bajaj Auto, and Ather Energy. Market leader Ola Electric, with 3,76,550 units, holds a 37 percent share of the million-plus units sold to date. TVS Motor Co., which has retailed 1,87,301 iQubes, has a near-19 percent share, while its ICE legacy rival, Bajaj Auto, with 1,57,528 Chetaks, has a near-16 percent share. E-scooter startup Ather Energy, which has sold 1,07,350 units to date this year, holds a 10.72 percent market share.   Club the sales of these four OEMs and what you get is a commanding 82.79 percent share of the Indian e2W market, leaving the remaining 17 percent share to 207 other players in the industry. Also See: Bajaj, TVS, Hero outsell major EV startups in October Maharashtra tops e2W sales with 18 percent share As per the Vahan database, of the total 10,00,987 electric two-wheelers sold between January 1 and November 11, 2024, Maharashtra has the bragging rights to being the state with the highest sales in the year to date. At 1,82,035 units, Maharashtra has an 18.18 percent share and is ahead of Uttar Pradesh by 24,404 units.  Uttar Pradesh, with 1,57,631 units, is ranked second in the state-wise EV sales parc for the current year, and has a 15.74 percent share. Karnataka is next with 1,37,492 units and a 13.73 percent share, followed by Tamil Nadu with 1,00,223 units and a 10 percent share. Club these four states, each of them with six-figure sales, and...

"Bajaj Auto leads EV sales in September Bajaj Auto has become the top player in India's electric vehicle market by monthly volumes, across all categories, with over 25,000 sales and registrations in September. This comes on the back of a big push in expanding distribution by the company and steady demand of electric three wheelers. In September, the company – according to the latest Vahan data —recorded sales of 17,570 electric two-wheelers, 4,575 three wheelers, and 3,000 Yulu low speed electric bikes (based on company sales numbers), which do not require a licence and are not registered on Vahan. They are produced by Bajaj for a company in which it holds a stake. In August, Ola Electric led the market with 27,586 registered vehicles, all electric scooters, according to Vahan data. Bajaj trailed with 24,817 vehicles, aggregating its sales across electric two-wheelers, three wheelers, and Yulu bikes. While Bhavish Aggarwal’s Ola Electric retains the top spot in the electric two-wheeler segment with 22,917 units registered in September, Bajaj Auto has narrowed the gap. Bajaj Auto is now the second largest player in this segment, surpassing TVS Motor, which holds a 20 per cent market share. Bajaj Auto now commands a 21.4 per cent share in the electric two-wheeler space, compared to Ola Electric’s 28 per cent. In June, Bajaj's market share was only 11.6 per cent, while Ola Electric led with 47.5 per cent." Ather Energy, with the launch of Rizta electric scooter, has increased its market share to 14.2 per cent." https://lnkd.in/gkX8Pa4e Content and image: Business Standard

Ola Electric’s two wheeler market share rises to 30% in October: After consecutive declines in market share, electric two-wheeler manufacturer Ola Electric regained traction in October with sales increasing during the festive period. According to Vahan data, Ola Electric sold 41,605 units in October, up from approximately 24,726 units in September—a 68% month-on-month rise. Subsequently, the Bengaluru-based company's market share also climbed to 30% in October, compared to 27% the previous month. However, this figure remains lower than its earlier market shares, which stood at 32% in August, 39% in July, and 49% in June. In October 2024, the Indian electric two-wheeler market recorded total sales of 139,031 units. Ola Electric led the market with 29,890 units sold, followed by TVS Motors with 28,188 units, Bajaj Auto with 15,984 units, Ather Energy with 7,309 units, and Hero MotoCorp with 7,137 units. Ola Electric has been under significant scrutiny recently. Earlier this month, the Central Consumer Protection Authority (CCPA) issued a show-cause notice to the company for alleged violations related to consumer rights, misleading advertising, and unfair trade practices.  Ola Electric has since addressed almost all after-sales complaints filed with the CCPA, according to a recent clarification. However, the Department of Consumer Affairs is reportedly investigating to confirm these resolutions. Customer complaints and a social media exchange between Ola’s CEO, Bhavish Aggarwal, and comedian Kunal Kamra have kept the company in the public eye.  Financially, Ola Electric’s Q1 FY25 results show a modest 2.8% revenue increase, reaching Rs 1,644 crore, compared to Rs 1,598 crore in Q4 FY24, along with a 16.6% reduction in losses to Rs 347 crore. The company’s stock, however, is currently trading at Rs 80, nearly 50% below its peak of Rs 157.53 in mid-August, as the market awaits the Q2 results. #startupnews #startups

Photo:FILE Electric Scooter There has been a decline of about 50 percent in the sales of two-wheeler electric vehicles in the month of April. The decline in sales of two-wheeler electric vehicles is being attributed to the changes in subsidy implemented from April 1. <!-- /8323530/Khabar_Desktop_VDO_1X1 --> How many electric two-wheelers were sold in April? Only 64,000 units of electric two-wheeler scooters were sold last month. Just over 33,000 units have been sold by market leader Ola. But in March this figure was more than 50,000 units. Let us tell you, according to the vehicle registration data of the government’s vehicle portal, electric two-wheeler manufacturers had sold more than 136,000 units in March. Which is the highest on record in one month. Big companies got a shock Companies like Ola, Bajaj, TVS and Ather have also suffered a big blow. Bajaj sold over 7,500 units in April, compared to over 18,000 in the previous month. TVS sales declined to 7,600 units from around 26,000 in March. Whereas, Ather has sold around 4,000 units in April. This figure was more than 17,000 in March. FAME-II subsidy ended in March On March 31, FAME-II subsidy was abolished by the government. Under this, the government was giving a subsidy of Rs 10,000 per unit on every two-wheeler. But due to non-availability of subsidy from April 1, there has been a decline in sales. Market growing at the rate of 30 percent A 30 percent increase was seen in sales of electric two-wheelers in FY 2023-24. During this period, more than 9.40 lakh units have been sold by all the companies. Latest Business News function loadFacebookScript(){ !function (f, b, e, v, n, t, s) { if (f.fbq) return; n = f.fbq = function () { n.callMethod ? n.callMethod.apply(n, arguments) : n.queue.push(arguments); }; if (!f._fbq) f._fbq = n; n.push = n; n.loaded = !0; n.version = '2.0'; n.queue = []; t = b.createElement(e); t.async = !0; t.src = v; s = b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t, s); }(window, document, 'script', '//https://lnkd.in/dNCd7S6K'); fbq('init', '1684841475119151'); fbq('track', "PageView"); } window.addEventListener('load', (event) => { setTimeout(function(){ loadFacebookScript(); }, 7000); });

🔌⚡️ 𝐄𝐋𝐄𝐂𝐓𝐑𝐈𝐂 𝐕𝐄𝐇𝐈𝐂𝐋𝐄 𝐒𝐀𝐋𝐄𝐒 𝐑𝐄𝐏𝐎𝐑𝐓 🛵🛺 📊 Sales Report: April 2024 Total units sold - 1,14,914 🔌⚡️ 𝐄𝐋𝐄𝐂𝐓𝐑𝐈𝐂 𝐓𝐖𝐎-𝐖𝐇𝐄𝐄𝐋𝐄𝐑 𝐒𝐀𝐋𝐄 ⚡️🛵 Units Sold: 65,057 📉 Change from Typical April Trend: Lower than usual 🚫 Reasons for Decline: Slow start of the new fiscal year 📉 A recent reduction in government subsidies leading to price hikes from manufacturers (TVS Motor Company, Bajaj Auto Ltd, Ather Energy, Hero MotoCorp) 💸 🌟 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐓𝐡𝐫𝐞𝐞-𝐖𝐡𝐞𝐞𝐥𝐞𝐫 𝐒𝐀𝐋𝐄! 🛺🌟 📈 The electric revolution continues! In April 2024, sales of Electric Three-Wheelers (E3Ws) in India soared to 42,032 units, marking an 8% year-over-year increase. 🚀 This growth showcases the unwavering momentum of E3Ws within India's electric vehicle (EV) market. 🔋 Despite a more measured rise compared to previous years, E3Ws remain a powerhouse in Indian EVs. Passenger electric rickshaws lead the charge, constituting nearly half of all three-wheeler sales! 🛺 This surge reflects India's shifting gears towards sustainable mobility, with E3Ws steering the way forward. 𝐄𝐋𝐄𝐂𝐓𝐑𝐈𝐂 𝐂𝐀𝐑 𝐒𝐀𝐋𝐄 surged by a remarkable 22%, totaling 9,046 units, setting the stage for an electrifying new fiscal year! 🏆 Leading the charge, Tata Motors stole the spotlight, commanding a whopping 71% market share with sales of 4,893 units. 🚀 But they're not alone in this eco-revolution! MG Motor India and Mahindra followed suit with 12% and 9% market shares respectively, further amplifying the electric momentum. 💼 Luxury brands also joined the eco-party, securing a 3.42% share, selling a combined total of 225 units. It's a clear sign that sustainability is the new standard, no matter the segment! The new 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐌𝐨𝐛𝐢𝐥𝐢𝐭𝐲 𝐏𝐫𝐨𝐦𝐨𝐭𝐢𝐨𝐧 𝐒𝐜𝐡𝐞𝐦𝐞 (𝐄𝐌𝐏𝐒), valid for a four-month period from April 1 to July 31, 2024, has a total outlay of Rs 500 crore and aims to support the purchase of 372,000 EVs including 333,000 two-wheelers and 38,828 three-wheelers (L5 category). While e-two-wheelers get a subsidy of Rs 5,000 per kWh with a maximum limit of Rs 10,000 per unit under EMPS, e-three-wheelers can avail a subsidy of Rs 5,000 per kWh with a maximum limit twice that of two-wheelers at Rs 10,000 per unit. Let's power up for a brighter May ahead! #evnews #EVUpdates #evsales #ElectricMobility #SustainableFuture #TwoWheelers #gyaniki Register on #gyaniki for latest #EVupdates and #technical information on #futuremobility www.gyaniki.com

Strong Demand Fuels 27% Growth In April Auto Sales: Report The Federation of Automobile Dealers Associations (FADA) has unveiled its latest Vehicle Retail Data for April 2024, showcasing a robust 27% year-on-year growth in the Indian auto retail sector. The data, released highlights notable expansions across various segments, including two-wheelers (2W), three-wheelers (3W), passenger vehicles (PV), tractors (Trac), and commercial vehicles (CV). FADA President, Mr. Manish Raj Singhania, commented on the sector&#8217;s performance, attributing the impressive growth to multiple factors. The 2W segment, for instance, witnessed significant expansion, buoyed by enhanced supply and rising demand for 125cc models. Similarly, the PV category experienced double-digit growth, supported by improved model availability [&hellip;] - https://lnkd.in/dzMRSESR #automotive #evs #ev #electricmobility #emobility #ebikes #fleets #evfleet #evnews #autonews #electricvehicles #electricvehicle #automotiveindustry #automotivejobs #cleantech #cleanenergy #hydrogen #lithium #evbattery #sustainability #climatechange #electricvehicles #ev #evsales #fada #federationofautomobiledealersassociations #india #sales

Controversial opinion but… Bajaj is reading consumer sentiments better than Ola Electric. Says not me. But the data. Ola Electric hits an 11-month low—from 49% market share in March, 39% in July, to now 27% in September. While overall EV two-wheeler sales have fallen by 16% since July, it shouldn’t have come as a surprise for Ola. But, the twist in the tale is with Bajaj Auto regaining strength and standing at 21.3%. In a way, it is a share lost from Ola to Bajaj’s gain. Is Bajaj Putting the Brakes on Ola Electric's Growth? Giving out my #Rajspective: Ola Electric, once the forerunner in India's EV revolution, is now facing stiff competition as its sales have dropped to an 11-month low. Meanwhile, Bajaj Auto, a traditional heavyweight in the two-wheeler market, is quietly accelerating its electric vehicle strategy. Bajaj's steady market share gains suggest that the EV battleground is evolving faster than anticipated. The Shift in Market Dynamics: • Consumers are becoming more price-sensitive, with Bajaj offering a perceived higher value-for-money, especially in terms of long-term durability and maintenance. • Bajaj’s extensive dealership network has allowed it to penetrate tier 2 and 3 cities, an area where Ola’s direct-to-consumer model faces challenges. • Bajaj’s historical presence in the Indian market, with models like Chetak, has led to higher brand loyalty among older generations, translating to trust in its EV offerings. • While Ola pushed for affordability, Bajaj has focused on performance and after-sales service, critical factors for long-term EV users. • Bajaj’s focus on battery life and reliability, coupled with established consumer trust, is giving it a significant competitive edge over Ola, especially for daily commuters. All points so far to Bajaj. But can Ola turn things around? • Ola is working on enhancing its battery technology to increase range and performance, which could attract a wider customer base, especially daily commuters looking for reliability. • Ola’s ambitious plan to build more charging stations across key locations could improve convenience for users, reducing range anxiety and boosting sales. • By revisiting its pricing model, Ola could offer more competitive packages that appeal to budget-conscious buyers without compromising quality. • Ola’s improvement in after-sales service and customer support can build loyalty, crucial in retaining customers amid rising competition. • Ola’s plans to enter international markets can provide new revenue streams, reducing reliance on the Indian market while bolstering brand recognition globally. No matter what, but with Bajaj and other competitors (read TVS Motors and Ather) entering the fray, it is no longer a one-horse race. #ElectricVehicles #Bajaj #OlaElectric #EVMarket #MarketTrends #Innovation #Sustainability #CleanEnergy #Growth

Indian 3-Wheeler Industry, Jan-Sept Comparison. -Overall Industry has grown by 10% -There are more than 300+ 3-wheeler manufacturers/assemblers. The top 20 performers consistently contribute 71% of total sales. -Challenging BAJAJ's dominant leadership in 3-wheelers with 35% MS., looks like a distant dream for the competitors. -Electric 3-wheelers already crossed 50% contribution and further grabbed a major chunk to rest at @55% -Realising that the high “cost of ownership” might be hurting the E-rikshaw segment, one can spot a declining trend. This segment needs a separate strategy to ensure ROI and customer confidence are back on track. This segment contributes @ 40%. Any player with a focus on this segment with “MIND BLOWING” customer-centric strategy will surely surge as triumphant. -Awareness of ROI in the electric L-5, 3-W segment will further dent CNG/ Diesel -It is evident from BAJAJ's dominance, that industry players are adamant/reluctant to adapt revolutionary tools to drive business growth. Tesla, OLA, BYD are classic examples of creating brands with ‘out of the box’ thought processes and established automotive start-ups in a competitive market. Even TATA & Mahindra rejuvenates companies’ fortune with their latest product portfolio.Kinetic Green Roket EV DSR EV MOBILITY Ayush Lohia Omega Seiki Mobility Terra Motors Corporation Saera Electric Auto Atul Auto Ltd.Bajaj Auto Ltd TVS Motor Company Piaggio Vehicles Pvt. Ltd. Mahindra Last Mile Mobility Roket EV Dilli Electric Auto Pvt Ltd (Citylife) Greaves Electric Mobility

According to a CareEdge Rating report, electric car sales in India are projected to reach 1.3-1.5 lakh units in FY25, representing a significant increase from the 90,432 units sold in FY24, which saw a year-over-year growth of 90%. This forecast reflects the improving penetration of electric vehicles in the passenger vehicle (PV) segment. The PV industry in India is anticipated to witness moderate growth in FY25, with sales volumes expected to expand by 3% to 5%, following a 7.4% increase in FY24. The report highlights a notable trend of increasing popularity of sports utility vehicles (SUVs), which recorded a 22.4% surge in sales in FY24. This preference shift among consumers towards vehicles offering greater utility and perceived safety benefits is expected to continue, further consolidating the SUV's dominance in the market. However, the PV industry is also facing challenges, particularly in the entry-level vehicle segment, where demand is anticipated to remain subdued due to the increasing costs of these models and a shift in consumer preferences towards premium and high-end vehicles driven by economic conditions and demographic changes.

MG Motor India Reports 14% Year-On-Year Growth In Retail Sales For FY 2023-24 MG Motor disclosed that it had recorded retail sales of 4648 vehicles in India by the end of March 2024. In the fiscal year 2023-24, the automaker achieved approximately a 14 per cent year-on-year growth compared to the previous fiscal year 2022-2023. The slowdown in the automotive industry&#8217;s growth, notably in passenger vehicle (PV) sales, observed in March, due to factors like a delayed festive season, is expected to gradually improve in the upcoming months. - https://lnkd.in/dvMfd-26 #automotive #evs #ev #electricmobility #emobility #ebikes #fleets #evfleet #evnews #autonews #electricvehicles #electricvehicle #automotiveindustry #automotivejobs #cleantech #cleanenergy #hydrogen #lithium #evbattery #sustainability #climatechange #electricvehicles #ev #india #mgmotor #sales