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Electric two-wheeler sales plummeted 50% in April due to a seasonal slump worsened by subsidy changes. Ola Electric dominated with 33,000 scooter sales. Legacy firms like Bajaj and TVS Motors also saw declines. ....
Industry observers and auto experts say that the registration numbers indicate of market stabilisation despite FAME II subsidy coming to an end by March 2024 ....
Electric Two-wheeler Sales: If this momentum continues into the remaining two months of the fiscal year or accelerates in March, the electric two-wheeler industry could achieve a record-breaking total of around 850,000 units for the entire fiscal year 2024. ....
The automaker’s jump in market share was driven by deep discounts and an extensive offering of aggressively priced e-scooters at multiple price points ....
While electric two-wheeler sales peaked in May this year, crossing the 100,000 mark, the volume had plummeted to under 46,000 units in June. However, strong general interest towards turning electric, coupled with the still available (albeit reduced) subsidy, has helped July volumes to recover to 54,292 units. This is expected to help sales volume to reach 750,000-800,000 units in calendar year 2023. ....