Electric two-wheeler sales saw a significant decline, with registrations falling to 46,085 units in August, down from 61,498 in July and 62,646 in the same month the previous year, August 2023.
In August, total registrations of electric vehicles (EVs) across all categories reached a 14-month low, with significant declines in sales on both a monthly and annual basis. This downward trend affected both electric two-wheelers and three-wheelers, although the latter managed to surpass two-wheelers in sales volume for the month.
Specifically, the combined registrations for all-electric vehicle categories were approximately 106,000 units in August, representing a 17% decrease from around 128,000 units recorded in July, according to Vahan statistics.
In the breakdown of sales, electric two-wheelers saw a notable reduction, with August registrations falling to 46,085 units, a significant drop from 61,498 in July and 62,646 in August of the previous year. Meanwhile, electric three-wheelers continued to perform relatively better, with 54,861 units registered, although this too was a decrease from 59,151 units in July and 56,581 in the previous August.
Regarding individual company performances, Ola Electric led the electric two-wheeler sector but experienced a drop in sales to 12,628 units in August from 18,602 in July. TVS Motor maintained its position as the second-largest seller despite a fall in sales to 9,514 units from 11,555 in July. Bajaj Auto, Ather Energy, Hero MotoCorp, and Greaves Cotton all saw declines in their sales figures as well.
In the electric three-wheeler sector, Mahindra Electric Mobility topped the market with sales exceeding 4,500 units, although this was a decrease from 6,504 units in July. Bajaj Auto sold 4,030 units, marking a slight increase from July’s figures. Other companies like YC Electric Vehicle and Piaggio also reported changes in their sales volumes, while TI Clean Mobility, part of the Murugappa Group, saw a modest increase in their sales.
Additionally, electric car registrations experienced a downturn, with the numbers dropping to 4,755 units in August from 6,855 in July, completing a month characterized by widespread declines across the electric vehicle market.
