Ad
Ad
Despite minor fluctuations, the industry shows promise, emphasizing the growing demand for sustainable transportation options.
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.
Ad
Ad
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.
| 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.
Next-Gen Apache RR 310 Spy Shots Hint at Significant Upgrades
The upcoming 2025 TVS Apache RR 310 has been spied testing, showcasing winglets, and hinting at significant electronic upgrades, potentially elevating its position in the segment.
07-Sep-2024 10:40 AM
Read Full NewsNext-Gen Apache RR 310 Spy Shots Hint at Significant Upgrades
The upcoming 2025 TVS Apache RR 310 has been spied testing, showcasing winglets, and hinting at significant electronic upgrades, potentially elevating its position in the segment.
07-Sep-2024 10:40 AM
Read Full NewsBMW and Toyota Collaborate to Launch Hydrogen Fuel Cell Vehicles by 2028
BMW and Toyota join forces to develop next-generation hydrogen fuel cell vehicles, set for release in 2028, and push forward a sustainable hydrogen refuelling infrastructure.
07-Sep-2024 07:39 AM
Read Full NewsBMW and Toyota Collaborate to Launch Hydrogen Fuel Cell Vehicles by 2028
BMW and Toyota join forces to develop next-generation hydrogen fuel cell vehicles, set for release in 2028, and push forward a sustainable hydrogen refuelling infrastructure.
07-Sep-2024 07:39 AM
Read Full NewsNew Bajaj Chetak Blue 3202 Debuts at Rs. 1.15 lakh, Taking Over the Urbane
The Bajaj Chetak Blue 3202 features a longer range, higher speed with TecPac, and advanced app functions at a lower price. Its gaining ground on competitors like iQube and Ola S1
07-Sep-2024 07:02 AM
Read Full NewsNew Bajaj Chetak Blue 3202 Debuts at Rs. 1.15 lakh, Taking Over the Urbane
The Bajaj Chetak Blue 3202 features a longer range, higher speed with TecPac, and advanced app functions at a lower price. Its gaining ground on competitors like iQube and Ola S1
07-Sep-2024 07:02 AM
Read Full NewsScout to Unveil Two Electric Concepts in 2026
Scout, Volkswagen’s revived 4x4 brand, will debut electric SUV and pickup models inspired by the Scout II, with production beginning in 2026 at a new South Carolina plant.
07-Sep-2024 06:40 AM
Read Full NewsScout to Unveil Two Electric Concepts in 2026
Scout, Volkswagen’s revived 4x4 brand, will debut electric SUV and pickup models inspired by the Scout II, with production beginning in 2026 at a new South Carolina plant.
07-Sep-2024 06:40 AM
Read Full NewsSpeed Twin 1200 RS Teased: Triumph Expands Modern Classic Line-up
Triumph's upcoming Speed Twin 1200 RS promises enhanced performance and striking new aesthetics. The teaser hints at premium features and a potential power boost for the modern classic motorcycle.
07-Sep-2024 06:04 AM
Read Full NewsSpeed Twin 1200 RS Teased: Triumph Expands Modern Classic Line-up
Triumph's upcoming Speed Twin 1200 RS promises enhanced performance and striking new aesthetics. The teaser hints at premium features and a potential power boost for the modern classic motorcycle.
07-Sep-2024 06:04 AM
Read Full NewsSkoda Slavia and Kushaq: 1.5L EVO TSI Now Automatic-Only
Skoda removes manual gearbox option for 1.5L EVO TSI engine in Slavia and Kushaq models, potentially affecting enthusiast buyers and market dynamics in the Indian automotive sector.
06-Sep-2024 01:26 PM
Read Full NewsSkoda Slavia and Kushaq: 1.5L EVO TSI Now Automatic-Only
Skoda removes manual gearbox option for 1.5L EVO TSI engine in Slavia and Kushaq models, potentially affecting enthusiast buyers and market dynamics in the Indian automotive sector.
06-Sep-2024 01:26 PM
Read Full NewsAd
Ad
Mercedes-Benz Maybach EQS SUV
₹ 2.25 Cr
Tata Curvv
₹ 9.99 - 19.00 Lakh
Maserati GranTurismo
₹ 2.72 - 2.90 Cr
Aston Martin Vantage
₹ 3.99 Cr
Audi Q8
₹ 1.17 Cr
Hyundai Alcazar facelift
₹ 17.00 - 22.00 Lakh
MG Windsor EV
₹ 25.00 - 30.00 Lakh
Mahindra XUV300 Electric
₹ 15.00 Lakh
Mercedes-Benz EQS 2024
₹ 2.00 Cr
Hyundai Ioniq 5 N
₹ 45.95 Lakh
Ad
Ad
Ad