In the month of July 2024, 1,06,949 electric scooters were sold in India, up from 54,616 electric scooters sold in July 2023, recording a 96% year-on-year increase.
This is also significantly higher from June 2024, when 79,868 electric scooters were sold in the country. The electric scooter sales have crossed the 1 lakh mark for the first time in the last four months.
Ola Electric leads the market
Ola Electric, which is currently raising funds through an initial public offering (IPO) continues to lead the Indian electric two wheeler market with a share of nearly 40%.
The company recorded sales of 41,597 electric scooters in July 2024, up from 19,406 scooters sold in July 2023, recording a 114% year-on-year increase in sales. With this, the company recorded a market share of 39%.
TVS Motor emerges a distant second
TVS Motor has emerged a distant second, selling 19,471 electric scooters in July 2024, up from 10,398 scooters sold in July 2023, recording an increase of 87%. With this, the company commanded a market share of 18% in July 2024.
Bajaj Auto is next, having sold 17,642 scooters in July 2024, up from 4,128 electric scooters sold in July 2023, recording a 327% year-on-year increase. The company has a 16% market share.
Ather Energy, which recently launched the Rizta, the company’s first electric scooter has been pushed to the fourth spot, with 10,080 scooters sold in July 2024, recording a year-on-year increase of 51%. The company has a 9% market share.
Next is Hero MotoCorp, which sold 5,044 electric scooters in July 2024, up from 990 units sold in July 2023, recording a 410% growth. The company recorded a 5% market share.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
