Combined sales of Chetak and iQube are higher in July, as compared to respective number in June
Chetak and iQube are currently the only electric scooters offered by mainstream two-wheeler manufacturers. Throughout 2021, significant fluctuation can be seen in sales of these scooters.
Global shortage of semiconductors and restrictions due to second wave of pandemic have adversely impacted sales. Now another trend is evident, wherein electric scooter sales are rising due to continuous increase in fuel prices.
Chetak ahead in July, but trails cumulatively
Bajaj Chetak sales in July are at 730 units. As compared to just 31 units sold in July last year, YoY growth has improved by a staggering 2254.84%. In comparison, TVS iQube sales in July are 540 units. YoY growth is 2247.83%, as compared to 23 units sold in July last year.
MoM growth for Chetak in July is 61.50%, as compared to 452 units sold in June. iQube MoM numbers are negative at -15.49%, as compared to 639 units sold in June. Even though Chetak is ahead in July, iQube maintains the lead in cumulative sales numbers. In the seven months from Jan to July 2021, Chetak sold a total of 1,261 units. During the same period, iQube total sales are at 1,715 units.
Chetak, iQube expansion plans
With rising fuel prices, electric two-wheeler sales are expected to pick up pace in the coming months. Subsidies available at central and state level are another key factor that will help boost sales. Moreover, as charging and battery swapping infrastructure becomes easily accessible, more people will feel motivated to make the switch to electric.
In view of these factors, both Bajaj and Chetak are working aggressively to expand operations to new cities. At the time of its launch, Chetak was available only in Pune and Bengaluru. It is now available in Nagpur, Aurangabad, Mysore and Mangalore as well. More cities will be covered in the coming months. By end of this year, Bajaj has plans to make Chetak available in 22 new cities. By March 2022, Chetak will be available in 40 cities.
TVS iQube is currently available in Pune, Delhi, Bengaluru, Chennai and Coimbatore. More cities will are planned to be covered soon. It includes cities like Ahmedabad, Hyderabad, Mumbai and Kolkata. iQube will also be made available in a number of Tier I cities.
By end of this fiscal, a total of 20 cities are planned to be covered. iQube will soon be available at around 1,000 dealerships. Both Bajaj and TVS already have a vast countrywide dealer network. Introducing their electric products to newer locations should not pose a significant challenge.