The electric two wheeler segment saw Ola and TVS Motor along with Ather Energy command maximum sales in March 2023
Taking the past financial year into account, Electric 2W Sales improved by 187.77 percent, reveals FADA. Sales stood at 7,26,748 units in the FY 2023 period from 2,52,541 units sold in FY 2022.
Electric 2W Retail Sales FY 2023 – Ola Sales Cross 1.5 lakh
It was Ola Electric that accounted for the most retail sales at 1,52,542 units, up 959.25 percent from 14,401 units sold in FY 2022. Okinawa Autotech retail sales in FY 2023 stood at 94,626 units, up 103.71 percent from 46,452 units sold in FY 2022 while Hero Electric sales were higher by 35.66 percent to 88,591 units in FY 2023 as against 65,306 units sold in FY 2022.
Triple digit growth was also reported by Ampere (84,551 units) and TVS Motors (81,887 units) along with Ather Energy whose retail sales improved by 284.55 percent to 76,833 units in FY 2023 from 19,980 units sold in FY2022. Retail sales of Bajaj Auto surged by 357.76 percent in FY 2023 to 32,556 units from 7,112 units sold in the same period last year.
Okaya sales were at 13,172 units in FY 2023 while that of Revolt improved by 69.16 percent to 12,922 units. There was a retail sales de-growth reported by PUR Energy, down 22.28 percent to 11,555 units in FY 2023 from 14,868 units sold in FY 2022 while others in this segment added 77,513 units to total retail sales in FY 2023 up 82.84 percent when compared to 42,394 units sold in FY 2022.
Electric Two Wheeler Retail Sales March 2023
Electric two wheeler sales saw good growth in March 2023. Sales improved by 57.71 percent on a YoY basis while MoM sales were also higher by 30.58 percent. Total retail sales in this segment stood at 85,793 units in March 2023, up from 54,400 units sold in March 2022. It was also a MoM growth from 65,702 units sold in Feb 2023.
Ola S1 recorded its best ever sales in March 2023. Retail sales were at 21,274 units, up 132.63 percent YoY from 9,145 units sold in March 2022. It was also a 22.55 percent growth over 17,647 units sold in Feb 2023. TVS iQube sales in March 2023 stood at 16,768 units, up 601 percent YoY from 2,392 units sold in March 2022. The company also reported a MoM growth of 33.26 percent from 12,583 units sold in Feb 2023.
Ather 450x registered growth of 440.80 percent in March 2023 with 12,076 units sold in the said period. It was also a MoM growth of 20.98 percent when compared to 9,982 units sold in Feb 2023. Retail sales of Ampere improved by 47.20 percent YoY to 9,334 units in March 2023 and by 59.86 percent MoM. This was against 6,341 units sold in March 2022 and 5,839 units sold in Feb 2023.
Retail sales of Hero Electric and Okinawa Autotech fell on a YoY basis in March 2023. Sales of Hero Electric stood at 6,652 units, down from 13,029 units sold in March 2022. It was however, a MoM growth of 13.55 percent from 5,858 units sold in Feb 2023.
Okinawa sales on the other hand, fell by 45.60 percent YoY but improved by 17.46 percent MoM to 4,507 units. Increased demand for the Bajaj Chetak allowed the company to record a 424.44 percent YoY growth to 4,484 units in March 2023, up from 855 units sold in March 2022 and a 77.94 percent MoM growth from 2,520 units sold in Feb 2023.
Total retail during the FY’23 witnessed a double-digit growth of 21%.
All categories, except tractors saw a double-digit growth with 2W, 3W, PV and CV growing by 19%, 84%, 23% and 33% respectively.
Tractors, however, only grew by 8%.#FADARetail #ONOA #FADAResearch pic.twitter.com/oSsgZfWLxR
— FADA (@FADA_India) April 4, 2023
The list of Electric 2W Sales in March 2023 also included relatively new comers to this segment – Okaya (1,762 units) and Kinetic Green (1,641 units) along with Revolt (1,132 units). There were also others in the electric two wheeler segment that added 6,163 units to retail sales, down 42.44 percent YoY from 10,708 units sold in March 2022 but a 16.06 percent MoM growth from 5,310 units sold in Feb 2023.
Source: Bike - rushlane.com
