Electric scooter sales are on the rise, and here is how some of the top selling scooters performed in Feb 2024 – Ola, Ather, TVS, Bajaj, etc
The embrace of electric mobility has seen higher acceptance with 2W vehicles than 4W vehicles. Within the 2W segment, it is the electric scooters bringing the highest numbers. In the month of February 2024, these were among the best selling electric scooters in India.
Electric Scooter Sales Feb 2024
Leading the electric vehicle onslaught in India is Ola Electric. With a slew of S1 range of electric scooters, Ola is at the forefront of electric scooter sales and is likely to stay that way for a long time, owing to its highly competitively priced electric scooters. This way, Ola Electric has solidified its position in this segment.
With 33,846 units sold last month, Ola S1 range of electric scooters accounted for 44.25% of this chart. As opposed to the 17,773 units sold in February 2023, Ola almost doubled its sales numbers by registering a 90.43% YoY growth. This resulted in a volume growth of 16,073 units YoY.
When compared to the 32,252 units sold in January 2024, Ola saw a 4.94% MoM growth. Volume gained MoM stood at 1,594 units. It has to be noted that the significant sales prospect of Ola Electric is due to the competitive pricing. As seen in the charts, Ola offers scooters between Rs. 85,000 and Rs. 1.3 lakh (ex-sh).
In 2nd place, we have TVS iQube at 15,792 units and this family electric scooter accounted for 20.64% market share among this list. TVS held its ground YoY and MoM with consistent sales as seen in the charts. When compared to the 15,522 units sold last year and 15,652 units sold a month before, iQube saw 1.74% YoY growth and 0.89% MoM growth. Volume gain stood at 270 units YoY and 140 units MoM. Where pricing is concerned, iQube costs between Rs. 1.11 lakh and 1.17 lakh (ex-sh).
In third place, we have Bajaj Chetak with 13,620 units sold last month. Chetak accounted for 17.80% market share in this list. When compared to 2,634 units sold last year there was a 417.08% YoY growth. However, Chetak saw a 3.70% MoM decline. Volume gained YoY was 10,986 units and volume lost MoM was 524 units. Chetak has been priced between Rs. 1.17 lakh and 1.45 lakh (ex-sh).
Ather reports YoY and MoM Decline
Ather 450 range was the first on this list to register a decline in both YoY and MoM analysis. Upcoming Rizta scooter could prove a better prospect. With 11,094 units sold last month, Ather 450 range witnessed an 8.67% YoY and 6.50% MoM decline in sales. Volume loss stood at 1,053 units YoY and 771 units MoM. With top-spec 450 Apex costing till Rs. 1.89 lakh, Ather has the most expensive scooter on this chart.
In 5th place, we have Hero MotoCorp’s Vida lineup. Despite registering the highest YoY growth of 1,648.75%, Vida also registered the highest MoM decline at 34.01%. Lastly, we have Okinawa Praise Pro selling 745 units and saw an 83.99% YoY and a 29.78% MoM decline. In total the top 6 best-selling scooters accounted for 76,496 units and they registered a combined 44.85% YoY growth and a 0.78% MoM decline.
