iQube takes the lead in November 2021, with YoY sales improving by more than 600 percent
Close fight between Bajaj Chetak and TVS iQube continues, with the latter posting higher sales numbers in November 2021. iQube also leads in overall sales during the period from January to November.
With just one more month to go in this year, it is likely that TVS iQube will be ahead of Chetak in 2021. Unless of course Chetak makes a strong comeback in December. It is currently 421 units short of iQube in terms of total sales during Jan-Nov 2021.
Electric Scooter Sales Nov 2021 – Chetak vs iQube
Bajaj Chetak sales were at 511 units in November 2021. YoY growth is at 93.56%, as compared to 264 units sold in November last year. Chetak MoM growth is down by -38.80%, as compared to 835 units sold in October 2021. Average monthly sales during the period from Jan-Nov 2021 is at 395 units per month.
TVS iQube sales in November 2021 is at 699 units. YoY growth has improved by a staggering 606%, as compared to 99 units sold in November last year. iQube MoM growth is at 76.96%, as compared to 395 units sold in October 2021. Average monthly sales during the period from Jan-Nov 2021 is at 433 units per month.
Taken together, Chetak and iQube have registered YoY growth of 233.33%. As compared to 1,210 units in November 2021, 363 units were sold in November last year. MoM growth is slightly down by -1.63%, as compared to 1,230 units sold in October 2021. Combined sales of Chetak and iQube have been consistently above the 1k mark since June this year.
During the period from Jan-Nov 2021, iQube has been ahead of Chetak in seven months. Chetak highest sales this year was in October at 835 units. In case of iQube, its best performance was 766 units in September.
Lowest point for both scooters this year was in May when sales were 31 units for Chetak and Nil for iQube. This was apparently due to second wave of Covid-19, when lockdowns and restrictions were quite common across the country.
Chetak vs iQube expansion plans
To boost sales, Bajaj and TVS are working to make their electric scooter available at more locations across the country. Chetak is currently available across four states – Maharastra, Karnataka, Tamil Nadu and Telangana. Cities covered include Pune, Nagpur, Aurangabad, Bengaluru, Mangalore, Mysore, Chennai and Hyderabad.
In comparison, iQube appears to have a wider sales network. It is available in cities like Chennai, Bengaluru, Delhi, Hyderabad, Ahmedabad, Chandigarh, Coimbatore, Aurangabad, Belgaum, Guntur, Guwahati, Jaipur, Indore, Kochi, Jamnagar, Kolkata, Kolhapur, Ludhiana, Lucknow and Meerut.
Both companies are initially giving preference to cities that have greater acceptance for electric scooters. Availability of charging infrastructure is another key factor being considered.
As global semiconductor chip shortage is expected to continue, electric scooter sales will be adversely impacted next year as well. New product launches in this segment will also pose significant challenges for Bajaj Chetak and TVS iQube.