My India First

My India First

Electrical two-wheeler market sees large 24% progress in February. Ola at prime of gross sales chart

The electrical two-wheeler (E2W) market in India noticed a big surge in registrations throughout February 2024, indicating a sturdy 24% year-on-year progress in high-speed scooters. In keeping with information sourced from Vahan, this surge displays the rising traction of electrical autos within the nation, with key gamers making strides on this evolving sector.

In February, registrations of high-speed E2Ws reached a complete of 81,963 models, sustaining a gentle month-on-month standing. It is value noting that the presence of an extra day in February contributed to this progress. The year-to-date common month-to-month run fee stood at 73,190 models, displaying a outstanding 21% improve in comparison with the earlier fiscal yr’s common of 60,500 models.

The electrical two-wheeler penetration fee for February 2024 reached 5.7%, a slight improve from January’s 5.6%, highlighting the sustained momentum of E2Ws out there.

Main the pack in February 2024 was Ola Electrical, retaining its prime spot with 33,722 models registered. Not solely did Ola Electrical safe the best registrations, nevertheless it additionally commanded a powerful 41.1% market share. This accomplishment was additional strengthened by a strategic worth lower within the ultimate 15 days of the month.

Following Ola Electrical had been outstanding gamers like TVS Motor with a market share of 17.7%, Bajaj Auto at 14.2%, and Ather Vitality at 11%. Greaves Electrical, previously often known as Ampere, captured 3.2% of the market share.

High 10 E2W gamers by quantity in February 2024:Ola Electrical (33,722 models)
TVS Motor (14,499 models)
Bajaj Auto (11,618 models)
Ather vitality (8,983 models)
Greaves Electrical (previously Ampere) (2,606 models)
Hero MotoCorp (1,750 models)
Bgauss Auto (1,349 models)
Wardwizard (840 models)
Okinawa (660 models)
Okaya EV (657 models)

On MoM foundation the highest performers had been:

Hero MotoCorp (+17.1%)
Okaya EV (+13.1%)
Bajaj Auto (+6.9%)
Ola Electrical (+4.4%)
Greaves Electrical (+2.8%)

On MoM foundation the underperformers had been:

Wardwizard (-13.9%)
Bgauss Auto (-9.3%)
TVS Motor (-5.3%)
Ather Vitality (-3.8%)
Okinawa (-3,4%)

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