Electric two wheeler sales grew significantly by 227.85 percent on a YoY basis but it was a marginal 4 percent MoM growth
The demand for electric two-wheelers in India is growing by leaps and bounds. Several established OEMs are now facing competition from a host of new comers who have also jumped the bandwagon to get a slice of this highly lucrative pie. As options grow, so does the range of newer offerings, with each automaker trying to out beat the other in what is seen as a prime deciding factor when purchasing an electric two wheeler.
Electric two wheeler sales stood at 76,400 units in Nov 2022. This was a YoY growth of 227.85 percent when compared to 23,303 units sold in Nov 2021. October 2022 sales were at 73,169 units relating to a marginal 4 percent growth.
Top 10 Electric Two-Wheeler Retail Sales Nov 2022
Ola Electric, a relatively new comer, was at No. 1 for Nov 2022. Retail sales stood at 16,306 units, up 7 percent MoM from 15,250 units sold in Oct 2022. In more recent news, Ola has just released Move OS 3 software for over 1 lakh users offering as many as 50 new features. The roll out will be in a phased manner and users will be intimated to upgrade the software.
Ampere was next on the list with 12,257 units sold in the past month of their Magnus EX electric scooter. This was a 515.93 percent YoY growth from 1,990 units sold in Nov 2021 while MoM sales increased by 30 percent over 9,432 units sold in Oct 2022. Ola and Ampere were the only two OEMs to witness sales above the 10,000 unit mark.
Okinawa Autotech came in next with 9,059 units sold in Nov 2022, up 68.63 percent from 5,372 units sold in Nov 2021. It was however, a MoM de-growth of 37 percent when compared to 14,400 units sold in Oct 2022. Hero Electric, a long standing leader in the e-scooter segment, fell to a No. 4 spot in Nov 2022 with 9,014 unit sales. This was a 28.35 percent growth over 7,023 units sold in Nov 2021 while MoM sales improved by 9 percent from 8,284 units sold in Oct 2022.
TVS, Ather, Bajaj Electric Scooter Sales Nov 2022
TVS Motor noted outstanding YoY growth to 8,088 units in Nov 2022 up from just 522 units sold in Nov 2021 while MoM sales grew by 45 percent from 5,567 units sold in Oct 2022. The TVS iQube, its sole electric offering is presented in three variants of Standard, S and ST and priced between Rs 1.67-1.72 lakh (ex-showroom).
Ather 450X allowed the company to post a YoY and MoM growth of 252.47 percent and 8 percent respectively. The company sold 7,765 units in the past month, up from 2,203 units in Nov 2021 and 7,202 units in Oct 2022. Bajaj Auto Chetak e-scooter sales were at 3,028 units last month, up 315.93 percent from 728 units sold in Nov 2021 while in Oct 2022 sales had stood at 3,459 units thus relating to a 12 percent MoM de-growth.
Okaya (1,783 units), Jitendra (1,254 units), and Benling India (1,215 units) also featured on this list in Nov 2022. However, it was only Okaya and Jitendra that posted a MoM growth of 2 percent and 19 percent respectively while sales of Benling India dipped 11 percent. PUR Energy also suffered a YoY and MoM de-growth in retail sales down to 924 units, from 1,687 units and 969 units sold in Nov 2021 and Oct 2022 respectively.
Lower Selling Electric Two Wheelers Nov 2022
Lower down the list was Twenty-Two with 854 units sold, up 50 percent MoM from 568 units sold in Oct 2022 while retail sales of Kinetic Green increased 163 percent MoM to 838 units. There was also Bgauss Auto with 628 units sold, a 41 percent MoM growth.
Retail sales of Revolt dipped 32.73 percent YoY to 524 units, from 779 units sold in Nov 2021 while MoM sales fell 47 percent over 980 units sold in Oct 2022. The list also included AMO Mobility (421 units), GoGreen (395 units) and Komaki (287 units) along with IVOOMI (209 units) with each posting a MoM growth in retail sales. There were also other electric two wheeler OEMs who contributed 1,551 units to retail sales in Nov 2022, a YoY de-growth of 8.28 percent from 1,691 units sold in Nov 2021 but a 37 percent MoM growth from 1,133 units sold in Oct 2022.