Ola S1 topped the list of best-selling electric scooters in the Jan-July 2024 YTD period with a 47.85% market share
Following our earlier report on electric 2W sales in July 2024, we now analyze how the top selling electric scooters performed on a year-to-date (YTD) basis. We take into account some of the major players in the Indian electric scooter market. These include Ola Electric, TVS Motor, Bajaj Auto, Ather Energy and Hero MotoCorp Vida.
Electric Scooter YTD Sales – Jan to July
Ola Electric has seen outstanding sales for its S1 that is presented in three variants- S1X (2kWh), S1X and S1X Plus. Sales in the January to July 2024 period stood at 2,68,953 units averaging 38,422 units each month and commanding a 47.85% share on this list. The Ola S1 sales set off at 32,252 units in January 2024 improving to 33,846 units in Feb and then on to 53,320 units in March 2024. Sales declined in the April-June 2024 period but grew to 41,642 units in July 2024.
At No. 2 was the TVS iQube with 1,01,897 unit sales during the Jan-July 2024 period at an average of 14,557 per month. Currently commanding an 18.13% share on this list, the iQube has seen sales escalate from just 1,562 units in Jan 2024 to a whopping 15,792 units in Feb and then on to 16,713 units in April 2024. It ended July 2024 with a total of 21,064 units sold. The TVS iQube has also been recently updated with a Celebration Edition in a dual tone colour scheme.
Bajaj Chetak electric scooter range accounted for sales of 1,00,596 units in the Jan-July 2024 period with a 17.90% share. Its average monthly sales are at 14,371 units and has shown off steady growth from 14,144 units sold in January 2024 to 16,691 units in June 2024. The Chetak saw its sales improve to 20,114 units in July 2024. Bajaj Chetak could soon see a price cut by around Rs 8,000 over current ex-showroom prices.
| Sales in 2024 | Ola S1 | TVS iQube | Bajaj Chetak | Ather 450, Rizta | Hero Vida | Total |
|---|---|---|---|---|---|---|
| Jul-24 | 41,624 | 21,064 | 20,114 | 11,088 | 4,600 | 98,490 |
| Jun-24 | 36,723 | 15,210 | 16,691 | 7,943 | 4,039 | 80,606 |
| May-24 | 37,225 | 17,230 | 13,042 | 7,023 | 3,640 | 78,160 |
| Apr-24 | 33,963 | 16,713 | 11,121 | 8,850 | 2,880 | 73,527 |
| Mar-24 | 53,320 | 14,326 | 11,864 | 11,821 | 2,240 | 93,571 |
| Feb-24 | 33,846 | 15,792 | 13,620 | 11,094 | 1,399 | 75,751 |
| Jan-24 | 32,252 | 1,562 | 14,144 | 11,865 | 2,120 | 61,943 |
| Total | 2,68,953 | 1,01,897 | 1,00,596 | 69,684 | 20,918 | 5,62,048 |
| Avg / Month | 38,422 | 14,557 | 14,371 | 9,955 | 2,988 | 80,293 |
| % Share | 47.85 | 18.13 | 17.90 | 12.40 | 3.72 | 100.00 |
Ather 450, Rizta and Hero Vida
Also on the electric scooter list was the Ather 450 range and Rizta along with the Hero Vida, though YTD sales failed the cross the 1 lakh unit mark. Ather 450 range and Rizta sales stood at 69,684 units during the Jan-July 2024 period at an average of 9,955 units per month to command a 3.72% share. Ather sales which started off at 11,865 units in January 2024 and remained constant through Feb and March dipped in April, May and June to under the 10,000 unit mark. Sales once again perked up in July 2024 to 11,088 units.
Hero Vida on the other hand has seen total YTD sales at 29,918 units at an average of 2,988 units each month. Hero Vida currently commands a 3.72% share on this list. It has seen its sales steadily grow from 2,120 units in Jan 2024 to 4,600 units in the past month.
Taking into account total sales of these 5 electric vehicles, numbers stood at 5,62,048 units in the Jan-July 2024 period. This was an average of 80,293 units per month. Sales saw an improvement from 61,943 units sold in Jan 2024 to 75,751 units in Feb 2024 and then on to 93,571 units in March 2024. Even as sales dipped in the following 3 month, sales once again grew to 98,490 units in July 2024.
Source: Bike - rushlane.com
