The two-wheeler market is not only the biggest in terms of volume for ICE vehicles but also for EVs. With the help of the festive season and the growing influence of EVs in the market, the electric two-wheeler segment continues to grow recording an uptick of 40.45 percent. This is because of sales of 90,007 units which is more than 64,086 units sold in September 2023. The segment recorded month-on-month growth of 1.74 percent when compared to the 88,472 units sold in the previous month.
With the growth in the segment, Ola Electric recorded the most YoY growth of 31.90 percent with sales of 24,679 units in Sept 2024 when compared to 18,711 units sold in the previous year. Meanwhile, the month-on-month sales saw a decline of 10.31 percent when compared to 27,517 units sold in Aug 2023.
Bajaj Chetak became the second best-selling brand with sales of 19,137 units which translates to a YoY growth of 169.27 percent. In Sept 2023, the brand dispatched 7,107 units. The brand also had a MoM growth of 14.53 percent when compared to the 16,706 units sold at the time. The sales of the automaker were closely followed by TVS with the dispatch of 18,108 units. This is a YoY growth of 15.96 percent when compared to sales of 15,616 units in Sept 2023. The monthly growth stood at 3.22 percent compared to the sales of 17,543 units in the previous month.
Ather Energy experienced a surge in its electric vehicle (EV) sales, reaching 12,718 units in September 2024. This marked a 76.76 percent YoY increase from the 7,195 units sold in September 2023. The MoM sales growth was 17.43 percent compared to the 10,830 units sold in August 2024.
Hero MotoCorp Vida reported a remarkable 708.63 percent YoY growth in electric 2W sales, selling 4,310 units last month, up from 533 units in September 2023. However, MoM sales saw a 9.11 percent decline, with 4,710 units sold in August 2024.
On the other hand, Greaves Electric (Ampere) saw a decline in both YoY and MoM electric 2W sales last month, with sales figures dropping to 2,777 units, marking a 23.14 percent decrease from the 3,613 units sold in September 2023. MoM sales also fell by 1.38 percent compared to the 2,816 units sold in August 2024.
BGauss Electric and Bounce sales stood at 1,237 units and 1,205 units, respectively. For BGauss Electric this is a YoY growth of 32.30 percent when compared to 935 units sold in September 2023. Similarly, Bounce noticed a YoY growth of 687.58 percent.