Three wheeler sales were up 74 percent on a YoY basis witnessing high demand during the festive season with a strategic shift from ICE to EVs
Three wheeler sales in India have seen outstanding results in the past month, particularly so when compared to sales of two and four wheelers and tractors. Three wheeler sales stood at 39,077 units in October 2021, up 73.93 percent over 22,467 units sold in October 2020.
It was however, lower by 38.01 percent over 63,040 units sold in October 2019. There is also a definite shift towards electric three wheelers in recent months. Every three wheeler maker posted positive YoY sales except for Piaggio Vehicles and TVS Motor Co.
Rickshaw, 3W Retail Sales Oct 2021 – Bajaj Auto Leads the Segment
As per Federation of Automobile Dealers Associations (FADA) data, three-wheeler retail sales were led by Bajaj Auto. Sales stood at 14,018 units in October 2021, up from 8,396 units retailed in October 2020. Market share dipped from 37.37 percent held in October 2020 to 35.87 percent in the past month.
Bajaj Auto has also started testing of its first electric three wheeler set to launch sometime in 2022. The company is also working on an electric version of the Qute quadricycle which Bajaj Auto had launched a few years ago.
Retail sales of Piaggio Vehicles dipped last month. Sales and market share which had stood at 4,407 units and 19.62 percent dipped to 4,192 units and 10.73 percent last month. The Italian automaker is also targeting the e-three wheeler and two wheeler segments in markets of Europe, India and Asia. Ape E-Xtra FX is a leader in e-3W cargo carriers.
YC Electric as noted significant increase in YoY retail sales. What stood at 817 units in October 2020, increased to 1,746 units in the past month. The YATRI e-rickshaw has found good response in north Indian markets and is specially regaled for its 4+1 seating capacity.
At No.4, Atul Auto was also one of the key players in the Indian three wheeler commercial vehicle space. The company posted positive YoY growth for its three wheelers which stood at 1,401 units in the past month, up from 883 units sold in October 2020. Market share also increased from 3.93 percent to 3.59 percent YoY.
|No||Rickshaw / 3W Sales||Oct-21||Oct-20||%|
|11||Best Way Agencies||636||204||211.76|
|16||Mini Metro EV||422||119||254.62|
Retail sales of Mahindra increased from 526 units sold in October 2020 to 1,282 units last month and market share increased from 2.34 percent held in October 2020 to 3.28 percent last month. Mahindra Treo dominates the electric 3W passenger segment. Mahindra Reva was also on this list at No. 8 with 757 units retailed last month, up from 274 units retailed in October 2020.
Electric Three Wheeler Sales Oct 2021
Each of the three wheeler makers Saera Electric, Champion and Dilli Electric posted positive YoY growth in October 2021 while TVS Motor Co reported a YoY de-growth to the extent of 696 units in October 2021 down from 729 units retailed in October 2020.
Retail growth through the month of October 2021 was also reported in the case of Best Way Agencies (636 units), JS Auto (552 units) and Vani Electric (480 units). Thukral Electric (471 units), Unique International (452 units) and Mini Metro (422 units) also posted an increase in retail sales. There were other three wheeler makers which included e-vehicle makers that recorded 9,152 unit sales in the past month, up from 4,461 units retailed in October 2020.