Top Selling Electric Two-wheeler in July 2023
Although electric two-wheelers experienced a significant decrease in June this year, with a decline of 61%, they are now gradually seeing an increase in sales in July, following the reduction of the FAME II subsidy. Interestingly, the total two-wheeler sales in India have risen by more than 11% MoM, despite the subsidy reduction.
The reduction of the FAME II subsidy from 40 to 15 percent had a sudden impact on the electric vehicle ecosystem in India, resulting in a notable rise in prices and a decline in sales. To address this situation and boost sales, many EV companies adopted a strategy of offering discounts on their scooters. This fantastic effort aimed to attract more customers and introduced a new wave in the EV industry. As a result, there has been an increase in sales this month, with several EV manufacturers, including Ola, Hero Vida, and Okaya, utilizing this strategy to gain more sales.
Top Electric Scooter Selling Companies in July 2023
Now, let’s take a look at this month’s sales report. Ola Electric has maintained its top position in July, just as in previous months. Following Ola Electric, we have TVS Motors, Ather Energy, Bajaj Auto, and Ampere Electric. The top 3 positions remain unchanged from last month. However, Ampere Electric slipped to the fifth position, losing out to Bajaj Auto.
| SL.N | Name | JUNE | JULY | MOM Growth % | July Market Share % |
| 1. | OLA ELECTRIC | 17,623 | 19,237 | 9% | 35% |
| 2. | TVS IQUBE | 7,857 | 10,330 | 31% | 19% |
| 3. | ATHER ENERGY | 4,597 | 6,607 | 44% | 12% |
| 4. | BAJAJ Auto | 3,002 | 4,086 | 36% | 8% |
| 5. | AMPERE ELECTRIC | 3,042 | 3,571 | 17% | 7% |
| 6. | OKINAWA AUTOTECH | 2,619 | 2,263 | -14% | 4% |
| 7. | Hero MotoCorp (Hero VIDA) | 465 | 987 | 112% | 2% |
| 8. | OKAYA EV | 425 | 784 | 84% | 1% |
| 9. | HERO ELECTRIC | 1,136 | 778 | -32% | 1% |
| 10. | BGAUSS AUTO | 190 | 657 | 246% | 1% |
| 11. | Pur Energy | 820 | 499 | -39.14% | 1% |
| 12. | KLB Komaki | 362 | 341 | -5.80% | N/A |
| 13. | Kintec Green Power | 203 | 222 | 9.35% | N/A |
| 14. | Quantum Energy | 79 | 209 | 164.55% | N/A |
| 15. | Ivoomi Innovation | 188 | 222 | 18.08% | N/A |
Ola Kept the Top Position
Ola captured a market share of 35%, selling a total of 19,237 electric two-wheelers, making it the highest number of electric two-wheelers sold in July 2023.
Now, Ola Electric is set to launch its Ola S1 Air to further expand its market share. In anticipation of the launch in July, the company has already released a few teasers to increase audience engagement and excitement.
Other Companies Performance
TVS secured the second position with a market share of 19%, selling a total of 10,330 electric scooters.
Ather maintained its position in third place, delivering 6,607 electric scooters in July, and securing a market share of 12%.
Ather also announced the Ather 450S pre-booking window in July, with deliveries set to commence next month.
Bajaj Auto and Ampere Electric remained in fourth and fifth positions, with sales of 4,086 and 3,571 electric scooters, and market shares of 8% and 7% respectively.
Hero MotoCorp performed strongly, doubling its sales from 465 units in June to 987 units in July, experiencing a remarkable MoM growth of 112%.
BGauss Auto has seen an impressive MoM growth of more than 245%, achieving sales of 657 units.
Pure Energy faced a decline of 39.%, selling a total of 499 units.
Quantum Energy has experienced an impressive increase in sales, with a growth of 209 units and a remarkable MoM growth of 164%.