Electric 2W sales June 2024 list was topped by Ola Electric with a 46% share of total retail sales
Electric 2W sales were in high demand in June 2024 with 79,530 units sold, a 72.48% YoY growth from 46,108 units sold in June 2023. It was also a 3.41% growth on a MoM basis when compared to 76,907 units sold in May 2024. Every 2W OEM on this list has shown off outstanding sales performance on a YoY basis, though retail sales comparison on a MoM basis were somewhat subdued.
Electric 2W Retail June 2024 YoY Vs MoM
Electric 2W sales in India are increasing by leaps and bounds. Government of India subsidies, tax incentives and other benefits to promote adoption of electric vehicles have stood it in good stead.
Sales of electric two wheelers in June 2024 that experienced significant YoY and MoM growth had Ola Electric at No. 1 with a lion’s share in total sales. Ola retail sales stood at 36,723 units in the past month, a 107.57% YoY growth from 17,692 units sold in June 2023. The company retail sales however fell on a MoM basis by 1.35% when compared to 37,225 units sold in May 2024.
TVS Motor, with a single electric 2W model iQube has contributed 13,904 units to total 2W retail sales in June 2024. This was a 76.74% YoY and 17.95% MoM improvement over 7,867 units and 11,788 units sold in June 2023 and May 2024 respectively.
At No. 3 was Bajaj Auto with Chetak electric scooter sales at 8,990 units last month. The company reported an astronomical 198.57% YoY growth over 3,011 units sold in June 2023 while MoM sales performance dipped by 2.43% from 9,214 units sold in May 2024. Chetak 2901, the newest offering is priced at Rs 95,998, ex-showroom – Bangalore. It promises an ARAI-certified range of 123 km.
Ola Holds Top Spot
Ather sales also improved significantly by 32.61% YoY to 6,104 units in June 2024 from 4,603 units sold in June 2023. MoM saw a very marginal improvement by 0.98% from 6,045 units sold in May 2024. The Ather Rizta electric scooter marked its entry into the segment. It is presented in two variants of Rizta S and Rizta Z and priced from Rs 1,09,999 to Rs 1,44,999 (Ex-showroom Bengaluru).
A massive YoY growth was reported by Hero MotoCorp with a 560% YoY hike in retail sales to 3,069 units in June 2024. This was up from a meagre 465 units sold in June 2023. MoM sales also showed off promise with a 24.96% growth from 2,456 units sold in May 2024.
Greaves Electric two wheeler retail sales also improved YoY and MoM by 88.40% and 38.70% respectively to 2,713 units. Bgauss sales also scaled new heights with a 456.02% YoY improvement to 1,062 units last month from 191 units sold in June 2023 while there had been 1,158 units sold in May 2024 relating to an 8.29% MoM decline.
Electric 2W Retail June 2024 – Sub-1,000 Unit
Unable to cross sales above the 1,000 unit mark was Wardwizard with 896 unit sales in June 2024. This was a 103.64% YoY but a 28.95% MoM decline. Quantum Energy showed off the highest YoY growth with a 754.43% improvement to 675 units from 79 units sold in June 2023 while MoM sales grew by 29.06% over 523 units sold in May 2024.
Lower down the sales list was Revolt (660 units) reporting a YoY and MoM decline in sales while sales of Okaya (517 units) and Kinetic Green (457 units) projected outstanding YoY improvement in sales. Lectrix EV also revealed a 245.22% and 89.95% YoY and MoM growth with 397 units sold last month.
Okinawa sales on the other hand fell significantly by 85.80% and 23.93% respectively to 382 units. Other electric 2W OEMs contributed 2,991 units to total retail sales last month. However, this was a 52.10% YoY decline from 6,244 units sold in June 2023 but a 2.15% MoM growth over 2,928 units sold in May 2024.
Source: Bike - rushlane.com
