Electric Two-Wheeler Sales Data June 2024: Market Decline Despite Ola Electric Lead

The Indian electrical two-wheeler market witnessed a major gross sales decline in June 2024, dropping over 17% in comparison with May 2024. This stoop comes amidst the transition from the FAME 2 subsidy scheme to the brand new Electric Mobility Promotion Scheme (EMPS) 2024.

Ola Electric Maintains Top Spot Despite Sales Decline

Ola Electric continues to dominate the market, holding the primary place in June 2024. However, the corporate skilled a detrimental month-on-month development charge of 33%, promoting 16,346 items in comparison with 24,487 items in May. Despite the decline, Ola retains a considerable market share of 31%.

TVS Motor, Bajaj Auto Follow Closely

TVS Motor and Bajaj Auto secured the second and third positions, respectively. TVS Motor’s gross sales dipped 17% month-on-month to 9,770 items, grabbing an 18% market share. Bajaj Auto witnessed a 15% decline, promoting 7,768 items and holding a 15% market share.

Other Notable Players within the Electric Two-Wheeler Market

• Ather Energy: The firm stays in fourth place with gross sales of 5,819 items, reflecting a 5% decline however securing an 11% market share.
• Hero MotoCorp: Sales grew by a commendable 25% month-on-month, reaching 3,068 items. However, their market share stands at solely 6%.
• Greaves Electric: A big rise of 39% was noticed in June gross sales (2,713 items) because of the launch of their new Ampere Nexus e-scooter. Their market share is 5%.
• Bgauss Auto: Climbing one place to seventh, Bgauss Auto witnessed a decline in gross sales (1,062 items) and holds a 2% market share.
• Wardwizard Innovations and Revolt Intellicorp confronted declining gross sales, dropping to eighth and ninth positions, respectively.
• Okaya EV noticed a minimal decline in gross sales (517 items), holding the tenth place with a negligible market share.

Looking Ahead

The way forward for the electrical two-wheeler market in India stays promising regardless of the June gross sales stoop. New product launches, upcoming manufacturing amenities, and model expansions are anticipated to positively affect future gross sales figures. Additionally, the affect of the brand new EMPS 2024 available on the market stays to be seen.

Electric Two-Wheeler Sales Data June 2024

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