Summary
- E2W: Overall high-speed electric two-wheeler (HS E2Ws) sales in India decreased by 15% m-o-m in November 2024, reaching 1,18,944 units. The top 3 players in the industry accounted for approximately 69% of the total registrations in November 2024. Furthermore, From January to November 2024, total E2W sales marked a 57.13% increase compared to the same period in 2023.
- E3W- Passenger: The sales of registered passenger E3Ws in November 2024 stood at 55,741 units, reflecting a m-o-m decrease of ~5%. From January to November 2024, E3W passenger sales increased by 16.48% compared to the same period in 2023. The top 10 players in the electric three-wheeler (E3W) passenger market collectively captured a 46.25% market share. Among them, Mahindra Last Mile Mobility led with an 11.81% share, followed by Bajaj Auto with 9.77% for the month.
- E3W- Cargo: The sales of registered cargo-type E3Ws in November 2024 stood at 7,674 units, reflecting a m-o-m decrease of ~9% in this segment. From January to November 2024, E3W cargo sales saw an increase of ~49% compared to the same period in 2023. The cumulative sales of the top 10 electric three-wheeler players in the cargo segment captured 44.44% of the entire E3W cargo market in November 2024. Bajaj Auto claimed the top position with an 8.89% share, surpassing Mahindra Last Mile Mobility, which secured a 7.21% share for the month.
- E-Cars: The total sales of E-Cars in November 2024 stood at 8,613 units, witnessing a m-o-m decrease of ~19%. E-Car sales rose from January to November 2024 saw ~12% increase compared to the same period in 2023. Tata Motors maintained its dominance in the E-Car market this month, securing a commanding 48.80% market share.
- E-Buses: In November 2024, total E-bus sales amounted to 165 units, marking a m-o-m decrease of ~61%. From January to November 2024, total E-Bus sales marked a 67.37% increase compared to the same period in 2023. Tata Motors led the market with a dominant 37.58% share, followed by Olectra Greentech with 26.06%.