Electric 2W Sales Report For March 2024: Ola, TVS, Bajaj and Ather are Major Key Players

Key Highlights:

• E2W segment witnessed significant growth rate of 29% in FY2024.
• Total retail sales reached 9,35,000 units in FY2024.
• Recorded the highest-ever M-o-M growth rate of 48.97%.

The E2W segment in India has witnessed significant growth in FY2024. With a total retail sales reaching 9,35,000 units, the growth represents a substantial increase of 29% as compared to the sales figure of FY2023 with 7,28,201 units. In March 2024, total sales reached almost 1,30,000 units, which is an impressive growth of 65.42% for a month-on-month basis.

Electric Two Wheeler: MoM Sales Report 
 

Electric Two Wheeler: YoY Sales Report 

Top 7 E2W Performance in March 2024

Ola Electric: Recorded the highest month-on-month growth rate of 48.97%, Ola has achieved the highest-ever monthly sales by selling 50,538 units in March 2024. Ola Electric has demonstrated exceptional growth year-on-year, more than doubling its sales from March 2023 to March 2024. This achievement can be considered as the result of price reduction offers and discounts Ola introduced in March, 2024 on its S1 line. Currently Ola is offering Ola S1 Pro, S1X and S1 Air. Along with this Ola has also announced unveiling of Ola Solo, India's 1st autonomous e-scooter. 

TVS Motor Company: Experienced a remarkable growth rate of 81.18%, with a recorded sales of 26,465 units of electric two wheeler segment, TVS’ impressive growth inclined with its futuristic plan of expanding its electric vehicle presence in the market in India as well as in Nepal and Europe. Moreover TVS has come up with the strategic planning of expanding its EV portfolio in every segment to cater to a wider and different range of customers. Currently the brand offers only TVS iQube in electric two wheeler category. TVS Motor has also experienced significant growth year-on-year, with sales increasing by over 57%.

Bajaj Auto: Achieved a growth rate of 52.40%, no wonder, this achievement has been a result of Bajaj’s efforts to provide electric mobility solutions by expanding its Chetak network. Bajaj Auto has witnessed exponential growth year-on-year, with sales nearly quadrupling from March 2023 to March 2024.

Ather Energy: Witnessing an impressive growth rate of 89.76%, Ather has become a trusted brand because of advanced features equipped with a 450 lineup of e-scooters. Ather Energy has maintained steady growth year-on-year, albeit at a slightly slower rate compared to some other players.  The overall m-o-m growth of Ather is remarkable. The brand has been offering some of the best and most popular scooters like 450s, 450x, and 450 Apex. With the launch of the upcoming scooter Rizta, the sales rate is expected to grow higher in the month of April.

Hero Electric: Hero has experienced a decline in sales year-on-year, however, the company has recorded a notable growth rate of 131.33%, indicating its increasing presence in the electric two-wheeler segment. Hero has shown remarkable growth in its E2W segment, and the same will be achieved with the upcoming launches of new two-wheelers by the brand. Currently, Hero was in the news for filing a patent application for a new e-scooter. Moreover, Hero is also focusing on its electric two wheeler oriented brand line Vida. Hero has claimed to bring a new e-scooter to its Vida product line.

Kinetic Green: Experienced an exceptional growth rate of 527.21%, highlighting its rapid expansion in the market. The growth is for sure the result of the launch of new Kinetic Zulu and Kinetic E-Luna. Furthermore, to expand its portfolio, Kinetic Green has patented new designs for Kinetic E-Luna with additional storage capacity; the scooter is expected to launch in the Indian market by the end of 2024. Kinetic Green has exhibited outstanding growth year-on-year, with sales increasing more than fivefold.

Okaya EV: The company has showcased growth of 87.67% on a Month-on-Month basis. Despite relatively lower market shares, Okaya EV exhibited significant growth rates, indicating their potential for future expansion.

Also Read: List of Upcoming Two-Wheelers Expected to Debut this April

Factors Driving March 2024 Surge

The rise in sales in the month of March 2024 can be influenced by several factors:
  
1. Subsidy Reduction Deadline: The first and foremost reason in the present scenario must have to be the subsidy reduction which is scheduled from April 1, 2024. Buyers must have rushed to purchase the preferred electric two wheeler to get their EVs at lower prices before the implementation of new Electric Mobility Promotion Scheme 2024 (EMPS). This scheme however has provided continued subsidy for electric two wheeler for next four months starting from April 1st 2024.

2. Increased Awareness: No wonder, compared to last few years, now electric two wheelers have been in demand. Amid growing environmental issues and concerns many have shifted toward use of sustainable mobility transports. On top of that, the government is also initiating awareness, schemes and policies which can influence masses to opt for electric vehicles. Such increased awareness must have influenced the growth rate of EV sales eventually.

3. Improved Product Offerings: New updated features and advancements being offered in the electric two wheelers, which has eventually gained the attention of many buyers. The E2W models which are currently present in the market are equipped with better   performance, range, and features, attracting more consumers.

CarBike360 Says

From the last two years the demand for electric two wheelers in India has doubled. The Indian market has witnessed rapid growth in March 2024, which have been driven by factors like subsidy deadlines, increased consumer awareness, and improved product offerings. The performance of all the key players in contributing to the setting up of the electric two wheeler segment as a prominent domain in the Indian automotive industry is commendable.

The latest generation of the Hero Splendor commemorates the 30th anniversary of the world's highest-selling motorcycle, featuring several premium and segment-first upgrades. This new model retains the classic Splendor silhouette while introducing contemporary enhancements such as a new LED headlamp with a high-intensity position lamp (HI PL) and an H-shaped signature taillight for a distinctive look.

Hero Splendor+ XTEC 2.0 New Features

The Hero Splendor+ XTEC 2.0 comes equipped with:

• Digital Speedometer: Includes an eco-indicator for better fuel efficiency tracking.
• Instrument Console: Features a Real-Time Mileage Indicator (RTMI) and Bluetooth connectivity for calls, SMS, and battery alerts.
• Safety Upgrades: Incorporates hazard lights for increased safety.
• Convenience Enhancements: Offers USB charging, a longer seat for improved comfort, and a larger glovebox with a hinge-type design.
• Aesthetic Updates: Available in a new dual-tone paint scheme.

Official Statement

Ranjivjit Singh, Chief Business Officer - India BU, Hero MotoCorp, remarked on the launch:

"Splendor is an iconic brand with an unmatched leadership spanning 30 years. The motorcycle has won millions of hearts and continues to encourage India's growth by empowering people through accessible mobility.

Splendor's enduring success is a testament to Hero MotoCorp's continuous innovation, brand trust, and product reliability. A perfect blend of iconic design, latest technology, and practicality, the Splendor is an emotion, a symbol of progress, and the unwavering aspirations of 40 million happy customers."

Hero Splendor+ XTEC 2.0 Engine Specifications

The new-generation Splendor+ XTEC is powered by the well-known 100 cc engine, producing 7.9 bhp at 8,000 rpm and 8.05 Nm of peak torque at 6,000 rpm. It features the Idle Stop Start System (i3S) for improved fuel economy, with a claimed efficiency of 73 kmpl.

Additionally, the service interval has been extended to 6,000 km, significantly reducing the running cost. Hero MotoCorp offers a warranty of 5 years or 70,000 km. The Splendor+ XTEC 2.0 is available in three dual-tone colors: Matte Grey, Gloss Black, and Gloss Red.

MG Gloster has been in the Indian market since 2020 and it has been rivaling the SUVs like Toyota Fortuner, Skoda Kodiaq, Hyundai Tucson, etc. However, it was due for a mid life facelift for a long time. Finally, MG is all set to give its flagship SUV a comprehensive makeover in the coming few months in the form of 2024 MG Gloster facelift.

Based on the Maxus D90, from the house of SAIC Motors, the Gloster 2024 will come with a completely new front and rear end. On the design front, it will get vertically placed LED headlamps, horizontal placed slim LED DRLs, a massive hexagonal grille and rugged cladding all around the SUV.

Moreover, the front facing radar integrated into the grille along with the front windshield mounted camera confirms the presence of level 2 ADAS with camera + radar configuration.

Although not confirmed, we also expect self/auto parking feature in the 2024 MG Gloster facelift because of the front ultrasonic parking sensors.

Additionally, the facelifted MG Gloster is expected to continue with the same engine and transmission with no mechanical changes.

Also Read: 2024 MG Gloster Facelift Spied: A Sneak Peek into MG's Flagship SUV

Key Highlights:

• VinFast VF 3: Electric subcompact SUV with 42 bhp powertrain.
• 27,649 reservations in 66 hours for VF 3.
• 210 km per charge, DC charger charges in 36 minutes.
• Two-door, four-seat layout, 191 mm ground clearance.
• VND 322 million, rivals MG Comet, Tata Punch.

VinFast VF 3: VinFast has recently revealed the detailed specs of the upcoming hatchback VF 3. The VinFast VF 3 is an electric sub-compact SUV that is set to rival cars like the MG Comet EV and Tata Punch EV in India. VinFast has two electric vehicles in its lineup to launch in India. The brand has already patented the VF 3’s design in India. According to the VinFast, they received around 27.649 bookings for the vehicle when they opened the pre-booking windows previously and these numbers were received in just 66 hours.

VinFast VF 3 Powertrain

The VinFast VF 3 comes equipped with an electric motor which is positioned on the rear axle. This powertrain generates a maximum power of 42 bhp and 110 Nm of torque. Talking about the acceleration, the VinFast VF 3 can sprint from 0 to 50 in just 5.3 seconds. The electric SUV is said to provide a range of 210 km on a solitary charge. For charging the E-SUV, a DC charger is expected to be on offer that will take around 36 minutes to charge the E-SUV.

VinFast VF3 Design

The electric SUV has a two-door configuration and a four-seat layout. Being a compact SUV, the VinFast VF 3 will come with an impressive ground clearance of 191 mm and a wheelbase of 2075 mm.

VinFast VF3 Price and Rivals

The VinFast VF3 comes with a price tag of VND 322 million (nearly Rs. 10.54 lakh). There is also a variant without a battery pack which is priced at VND 240 million (nearly Rs. 7.86 lakh). Additionally, there is a battery subscription on offer which is a more affordable option for the customers. Once launched in India, the VinFast VF 3 will rival the likes of MG Comet and Tata Punch. 
 

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BMW Motorrad is gearing up to launch its flagship adventure tourer, the R 1300 GS, in the Indian market. The motorcycle is now listed on BMW's India website and will be offered in three variants: Trophy, Triple Black, and Option 719 Tramuntana.

Variants and Features

GS Trophy and Triple Black

Also Read: 2024 BMW S 1000 XR Launched in India at ₹ 22.50 Lakh | Check Specifications and Features

Wheels: Both variants come with alloy wheels.

Tyres:

• Front: 120/70-R19
• Rear: 170/60-R17

The GS Trophy is equipped with dual-purpose tyres, while the Triple Black features road-biased tyres.

Option 719 Tramuntana

Wheels: Equipped with tubeless spoked rims.

Special Features

• Gold-anodised aluminium handlebars
• Gold-anodised rims
• Aurelius Green metallic paint scheme
• Exclusive Option 719 Shadow milled parts package

Engine and Performance

All three variants are powered by the same 1,300 cc boxer-twin cylinder engine, delivering:

• Power: 143 bhp at 7,750 rpm
• Torque: 149 Nm at 6,500 rpm

This engine is the most powerful boxer engine BMW Motorrad has ever used.

Chassis and Suspension

The R 1300 GS features an all-new chassis and suspension setup. Compared to its predecessor, the new design has resulted in a weight reduction of 12 kg. 

Riding Modes

The motorcycle comes standard with four riding modes:

• Rain: For wet conditions
• Road: For general riding
• Eco: Maximises fuel efficiency
• Enduro: Specifically for off-road riding

Additionally, riders can opt for 'Pro' modes for enhanced performance.

Standard Equipment

BMW Motorrad has equipped the R 1300 GS with a range of advanced features as standard, including:

• Full Integral ABS Pro
• Engine drag torque control
• Dynamic brake assist
• Ride-off assistant
• Dynamic Traction Control
• Dynamic Cruise Control
• USB socket
• Additional 12 V socket

Carbike360 Says

The BMW R 1300 GS, with its advanced features and powerful engine, is set to be a significant addition to the adventure tourer segment in India. The three variants offer distinct features catering to different riding preferences and styles.

Read More:: Wait For Tata Altroz Racer or Buy Hyundai i20 N Line? Here’s What You Should Know

Tata Altroz Racer: Tata Motors has been teasing the upcoming Atroz Racer for some time now. In a recent development, the brand released a new teaser featuring the sportier version of the hatchback. The Altroz Racer will hit the ground in the mid-June. Looking at the newly released teaser, we can get a clear idea of the features and design language of the upcoming hatchback. If you are curious to know more about the sporty hot hatch, get more details below.

Tata Altroz Racer New Teaser: Everything it Shows

The new teaser showcases some major design elements of the upcoming sports hatchback. Some noticeable things include a vibrant orange paint option with a blacked-out roof which looks similar to the one that was showcased at Auto Expo 2023. Additionally, there are black accents which can be seen on the bonnet, shoulder line, rear door handles and pillars which enhances the visual appeal of the hatchback.

Other noticeable design elements include a new dual white stripes that runs along the roof and bonnet. Also, there’s a Racer badging and shark fin antenna which looks simply great and makes it look like a real sports car in all terms.

Tata Altroz Racer: Features

The Atroz hatchback gets most of the modern features which include a 10.25-inch infotainment touchscreen display supporting Apple CarPlay and Android Auto, a 360-degree camera, a digital instrumental console, HuD, voice-controlled sunroof, connected car technology, a rear parking sensor and cruise control.

Tata Altroz Racer: Engine

the Atroz Racer will be powered by a 1.2 litre, 3-cylinder turbo petrol engine which makes 120 bhp of power and 170 Nm of torque. The 1.2-litre turbo petrol unit will be mated with a 6-speed manual and Dual Clutch Automatic gearbox (DCA) gearbox. Despite generating similar power figures, both the Hyundai i20 N Line and Altroz Racer will differ in performance, depending on the tuning.

Tata Altroz Safety Features

As far as safety is concerned, the Altroz Racer follows Tata’s standards with features such as 6 airbags, electronic stability control (ESC), TPMS, ISOFIX mounts, and 3-point seatbelts with reminders for all. Being an improved version of the standard Altroz, which scored 5 stars on Global NCAP crash tests, the Altroz Racer will definitely be safer in all terms.
 

Jawa Yezdi: Jawa Yezdi Motorcycles has launched the Mountain Pack for the Yezdi Adventure, adding touring accessories to the standard kit. Priced at ₹2.15 lakh (ex-showroom), the Mountain Pack was previously an optional accessory for ₹17,000 and is now included in the bike's ex-showroom cost. This offer coincides with the start of the mountain riding season and is available for a limited time.
 

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