Electric Scooter Sales in August 2023 in India | Ola Electric still on the top

Electric Two-Wheeler Market Sees Impressive Growth in August 2023, Led by Bajaj and TVS"

"Ola Electric Maintains Strong Position Despite a Minor Dip in Sales"

In the rapidly evolving landscape of electric two-wheelers, the August 2023 sales data reveals a promising growth trend with some key players leading the charge. According to the latest figures, the industry witnessed a 16.79% Month-over-Month (MoM) sales increase, totalling 56,236 units compared to 48,149 units in July 2023.

Bajaj and TVS emerged as the frontrunners, showcasing remarkable growth rates of 58% and 47%, respectively, in August 2023. Bajaj's aggressive marketing strategies and the release of new models seem to have paid off, while TVS's diverse electric vehicle portfolio continues to attract customers.

Ather, with a 5.83% MoM growth, and BGauss Auto, boasting a 39.48% growth rate, also made substantial strides in the market, demonstrating growing consumer interest in electric scooters.

Despite a slight dip in sales by 4%, Ola Electric remained a dominant player in the industry. Ola Electric's consistent sales figures indicate a strong and loyal customer base.

However, it wasn't all positive news for the electric two-wheeler market. Okinawa experienced a significant setback with an MoM decline of -12.99%, possibly due to increased competition in the market.

In the midst of this growth, Hero MotoCorp faced a challenging month, with a 7.97% MoM decline in sales. This downturn might prompt the company to reevaluate its electric vehicle strategy.

On a positive note, Okaya EV and Hero Electric maintained stable positions, with Okaya EV's sales growing by 46.24%, and Hero Electric's sales showing a marginal 0.51% increase.

Electric Scooter Sales Growth in August 2023

| Brands | July Sales'23 | August Sales'23 | Mom Growth ||------------------|---------------|-----------------|------------|| Ola Electric | 19,343 | 18,621 | -4% || TVS | 10,383 | 15,365 | 47% || Ather | 6,671 | 7060 | 5.83% || Bajaj | 4,116 | 6534 | 58% || Greaves Electric | 2,158 | 2923 | 35.40% || Okinawa | 2,263 | 1969 | -12.99% || Okaya EV | 785 | 1148 | 46.24% || BGauss Auto | 661 | 922 | 39.48% || Hero MotoCorp | 990 | 911 | -7.97% || Hero Electric | 779 | 783 | 0.51% || Total | 48,149 | 56,236 | 16.79% |

The overall sales growth of the electric two-wheeler market in August 2023 is a promising sign of the industry's potential. With innovation and competition driving the market forward, consumers can look forward to an even more diverse and advanced range of electric two-wheelers in the coming months.

As environmental concerns and the need for sustainable transportation continue to gain importance, the electric two-wheeler market appears poised for further expansion, with manufacturers like Bajaj and TVS leading the way.