EV Sales Digest – September 2024
Segment-wise Performance September 2024
- E2W: Overall high-speed electric two-wheeler (HS E2Ws) sales in India increased by 1.59% m-o-m in September 2024, reaching 89,876 units. The top 10 players in the industry accounted for approximately 95% of the total registrations in September 2024. Furthermore, compared to September 2023, E2W sales in September 2024 experienced a y-o-y increase of ~40.74%.
- E3W- Passenger: The sales of registered passenger E3Ws in September 2024 stood at 56,303 units, marking a m-o-m increase of ~3%. On a y-o-y basis, passenger E3W sales in September 2024 increased by ~8% compared to September 2023. The cumulative sales of the top 10 electric three-wheeler players in the passenger market accounted for a 41.94% share of the entire E3W passenger market. Mahindra Last Mile Mobility led the pack with a 9.99% share, while Bajaj Auto held a 7.97% share this month.
- E3W- Cargo: The sales of registered cargo-type E3Ws in September 2024 stood at 6,595 units, reflecting a m-o-m increase of ~7% in this segment. On a y-o-y basis, cargo E3W sales increased by 40% compared to September 2023. The cumulative sales of the top 10 electric three-wheeler players in the cargo segment accounted for a 42.93% share of the entire E3W cargo market in September 2024. Bajaj Auto secured the top position with a 7.87% share, overtaking Mahindra Last Mile Mobility, which held a 7.82% share this month.
- E-Cars: The total sales of E-cars in September 2024 stood at 5,784 units, witnessing a m-o-m decrease of ~9%. On a y-o-y basis, E-Car sales in September 2024 decreased by ~4% compared to September 2023. Tata Motors has continued to lead the E-car market, capturing 61.79% of the market share this month.
- E-Buses: In September 2024, total E-bus sales amounted to 398 units, marking a m-o-m increase of ~64%. Y-o-Y , sales also rose by ~54% compared to September 2023. Tata Motors led the market with a dominant 44.72% share, followed by, Olectra Greentech with 28.89%, and PMI Electro Mobility at 18.59%.