EV Sales Digest – August 2024
Segment-wise Performance August 2024
- E2W: Overall high-speed electric two-wheeler (HS E2Ws) sales in India decreased by 17.28% m-o-m in August 2024, reaching 88,472 units. The top 10 players in the industry accounted for approximately 95% of the total registrations in August 2024. Furthermore, compared to August 2023, E2W sales in August 2024 experienced a y-o-y increase of ~42%.
- E3W- Passenger: The sales of registered passenger E3Ws in July 2024 stood at 54,563 units, with a m-o-m decrease of 2%. On a y-o-y basis, passenger E3W sales in August 2024 increased by 7% compared to passenger E3W sales in August 2023. The cumulative sales of the top 10 electric 3-wheeler players in the passenger market accounted for 41.22% share of the entire E3W passenger market. Mahindra Last Mile Mobility led the pack with an 8.56% share, while Bajaj Auto, at 6.71%, surpassed YC Electric this month.
- E3W- Cargo: The sales of registered cargo-type E3Ws in August 2024 stood at 6,180 units, with a m-o-m decrease of ~21% in this segment. On a y-o-y basis, cargo E3W sales increased by 9% compared to cargo-type E3W sales in August 2023. The cumulative sales of the top 10 electric 3-wheeler players in the cargo segment accounted for 44.47% share of the entire E3W cargo market in August 2024. Mahindra last mile mobility secured the first position with a 7.84% share, While Bajaj Auto, with a 5.97% share, has overtaken Dilli Electric this month.
- E-Cars: The total sales of E-cars in August 2024 stood at 6,336 units, witnessing a m-o-m decrease of 16%. On a y-o-y basis, E-Car sales in August 2024 decreased by 15% compared to August 2023. Tata Motors has continued to drive E-car sales capturing 64.47% of the market share this month. In August 2024, total electric car sales reached 6,336 units, marking a m-o-m decline of approximately 16%. Y-o-Y, E-car sales saw a decrease of around 15% compared to August 2023. Tata Motors remained the dominant player, driving the market with a commanding 64.47% share this month.
- E-Buses: In August 2024, total E-bus sales amounted to 243 units, witnessing a m-o-m decrease of 44%. Y-o-Y , sales also fell by 10% compared to August 2023. Tata Motors led the market with a dominant 47.33% share, followed by, Olectra Greentech with 36.63%, and PMI Electro Mobility at 9.88%.