Ather is working proactively to expand its retail footprint and fast-charging network across the country
FY 2022-23 has been a good year for the automotive industry in India, as most OEMs have registered strong growth. In two-wheeler space, most ICE-based and EV manufacturers have been witnessing robust sales. India automotive space is growing even when geo-political and economic uncertainties continue to persist at the global level.
In electric two-wheeler space, Ather is among the OEMs that have registered strong growth in FY 2022-23. If Ather can maintain its current sales momentum, it can easily cross 1 lakh annual sales milestone by FY 2023-24. As of now, OEMs like Ola Electric and Hero Electric have annual sales of more than one lakh units.
Ather sales March 2023 and Q1 2023
Ather sold a total of 11,754 units in March. YoY growth is 353.65%, as compared to 2,591 units sold in the corresponding period last year. Ather MoM growth in March 2023 is negative at -3.24%. Sales were higher in February 2023 at 12,147 units. Speaking about Q1 2023 performance, Ather sales were at 36k units, which is a 383% YoY growth over Q1 2022. Compared to Q4 2022, when sales were at 24.6k units, it is a 46% growth QoQ. Total sales in FY’23 were at 82,146 units. According to Ravneet Singh Phokela, Chief Business Officer at Ather Energy, sales could have been higher if the chip shortage had not impacted operations in the first six months of FY’23.
Ather expects that their sales momentum will continue in FY’24. To encourage faster adoption of its electric scooters, Ather has been consistently adding new retail outlets across the country. In FY’23, the company increased its retail outlets by 4X, from 30 to 116 stores.
Ather has also been expanding its network of fast-charging stations. The pace at which Ather is adding new charging stations is truly commendable, as more than 900 charging points have been added in FY23. Ather now has a total of 1224 fast charging stations, making it the largest two-wheeler fast charging network in the country.
Ather has also been collaborating with third-parties to set up charging stations at strategic locations. These will benefit commuters who may be using electric two-wheelers along with other modes of transport such as metro, bus, etc. Ather recently partnered with Southern Railways to install charging stations at ten MRTS and suburban stations in Chennai.
Ather pricing a hurdle
Ather 450X is one of the most well-equipped electric scooters in the country. Safety record of Ather scooters is also impeccable, especially when compared to other electric scooters. However, high pricing of Ather 450X limits its customer base. Ather 450X price in Bengaluru starts at Rs 1,58,462 (Including FAME II subsidy). This may not be within the reach of a significant percentage of potential buyers looking for an electric scooter for everyday commutes.
Ather can probably take some inspiration from Ola Electric that has launched affordable versions of its S1 electric scooter (Ola sales in March 2023 were 27k). The affordability is achieved primarily by using a smaller capacity battery pack. Even though range is reduced, affordable pricing is still a major draw, especially in case of buyers with limited budget. A new affordable Ather launch is expected later this year.
Source: Bike - rushlane.com
