There is a decline in the sales of electric two-wheelers in August 2024. However, Ola Electric Company has reached the number 1 position. Let us know its details in detail.
Electric two-wheeler sales have seen a significant decline in the past few months. However, the retail sales of electric two-wheelers in August 2024 have seen a YoY growth of 40.93% compared to 62,779 units sold in the same period last year. Electric two-wheeler sales reached 88,472 units in August 2024. This is a decline of 17.33% on a monthly basis compared to 1,07,016 units sold in July 2024. This is a decline of 18,544 units. Nevertheless, Ola Electric Company has achieved the number 1 position in terms of sales. Let us know its details in detail.
2W Electric Retail Sales in August 2024
Ola Electric once again leads the segment. The company’s sales in August 2024 stood at 27,517 units. This is a notable increase of 46.76% YoY from 18,750 units sold in August 2023. However, the monthly sales declined by 33.89% from 41,624 units sold in July 2024 due to service and other issues faced by the company.
TVS Motor saw sales of its iQube electric scooter grow 13.31% YoY to 17,543 units last month. This is up from 15,482 units sold in August 2023. However, the MoM sales declined by 9.97% compared to 19,486 units sold in July 2024. In mid-August, TVS Motor introduced the Celebration Edition of the iQube to boost sales.
Bajaj Auto has seen a massive 153.51% growth in sales of its Chetak electric scooter on a year-on-year basis to 16,706 units. However, this is a 5.39% decline in monthly sales compared to 17,657 units sold in July 2024.
Ather Energy records year-on-year and month-on-month sales growth
Ather Energy was ranked fourth in this list. It recorded an improvement in YoY and MoM sales, which stood at 10,830 units, representing a growth of 51.32% YoY and 7.37% MoM. 7,157 units were sold in August 2023 and 10,087 units in July 2024. The Ather Rizta was announced with several service pack options, each offering a 1-year or 10,000 km warranty. Are valid for.
Hero MotoCorp is another major electric two-wheeler maker that has reported strong year-on-year sales. The company reported a 418.25% year-on-year improvement in its retail sales last month, with over 915 units sold in August 2023. However, the monthly sales declined by 6.01% compared to 5,045 units sold in July 2024.
Greaves Electric’s annual and monthly sales decreased by 3.76% and 10.72%, respectively, to 2,816 units last month. 2,926 units and 3,153 units were sold in August 2023 and July 2024, respectively. After that, Bigos sold 1,110 units last month, a year-on-year growth of 20.26%. However, the monthly decline was 38.06%. Bounce Electric 1 was another electric vehicle company that recorded year-on-year and month-on-month growth in August 2024.
The list of electric two-wheeler retail sales in August 2024 also included Wardwizard (734 units), Revolt Intellicorp (721 units), KLB Komaki (417 units), Okaya (410 units), and Kinetic Green (386 units). There were others on the list, which added 3,749 units to the total sales. However, the sales declined by 45.71% YoY and 12.73% MoM, compared to 6,906 units and 4,296 units in August 2023 and July 2024, respectively.