The electric vehicle revolution is charging ahead in India, powered by two-wheelers. As environmental awareness grows and EV technology improves, e-bikes and e-scooters are becoming increasingly popular across the country. The sales figures for September 2023 provide an insightful snapshot into the rapidly evolving EV two-wheeler market.
While the overall numbers saw a slight 1.51% decline from August, the industry remains robust with total sales crossing 50,000 units. Behind these headlines, there is a complex picture of ups and downs among both established automakers and startups. Some companies like Ola, Ather and Okinawa faced headwinds this month from supply chain woes to chip shortages. Meanwhile, others like TVS, Bajaj and Ampere rode accelerating demand to boost their sales.
read more- Electric Two-Wheeler Sales Surge in August 2023 Despite
This month’s results highlight the exciting opportunities and tough challenges faced by players in India’s burgeoning EV two-wheeler space. As the nation gears up for the upcoming festival season, the stage is set for further transformation. The industry’s resilience and capacity to innovate will shape the road ahead. Which companies will ride the tides of change and which will get swept away? My September 2023 sales report analyses all the latest trends, figures and market share data to give you the full picture
Sales report of Electric two wheeler for September 2023
| Company | Sales in August | Sales in September | MoM Growth | Market Share |
|---|---|---|---|---|
| Ola Electric | 18,718 | 18,635 | -0.44% | 29% |
| TVS iQube | 15,471 | 15,512 | 0.27% | 24% |
| Ather Energy | 7,129 | 7,109 | -0.28% | 11% |
| Bajaj Auto | 6,575 | 7,045 | 7.15% | 11% |
| Ampere Vehicles | 3,698 | 4,190 | 13.3% | 7% |
| Okinawa Autotech | 2,000 | 1,789 | -10.55% | 3% |
| BGauss Auto | 923 | 934 | 1.19% | 1% |
| Oaya EV | 1,150 | 885 | -23.04% | 1% |
| Revolt Motors | 514 | 882 | 71.6% | 1% |
| Hero Electric | 783 | 843 | 7.66% | 1% |
Key Takeaways:
- Ola, Ather Energy, and Okinawa saw declines likely due to supply chain issues, chip shortages, and component problems. As innovative electric scooter makers, these challenges have dampened consumer interest and purchases.
- However, TVS, Bajaj, Ampere, Hero, and Revolt saw strong sales growth stemming from marketing, brand trust, and dealer networks capitalizing on demand. This demonstrates the industry’s resilience.
- Upcoming festivals and new model launches could indicate a rebound, with pre-bookings also pointing to pent-up demand.
- Despite a slight decline this month, the outlook remains positive given the sector’s capacity to innovate and adapt.
Conclusion:
The September 2023 sales report highlights the exciting opportunities and tough challenges faced by India’s rapidly evolving electric two-wheeler industry. As the nation gears up for upcoming festivals, the stage is set for further transformation. The future outlook remains upbeat given the sector’s ability to ride the tides of change.