Ather Energy is one of the OEMs in the electric two-wheeler market that experienced significant growth in the fiscal year (2022–2023). Ather Energy can easily surpass the 1 lakh annual sales milestone by FY 2023–24 if it can maintain its current sales momentum. Currently, OEMs with annual sales of over a lakh units include Ola Electric and Hero Electric.
11,754 units in total were sold by Ather in March. When compared to the 2,591 units sold during the same period last year, there has been a YoY growth of 353.65%. March 2023 will see negative ather MoM growth of -3.24%. Sales increased to 12,147 units in February 2023. Ather Energy sales in the first quarter of 2023 were 36k units, a 383% YoY increase from the first quarter of 2022.
Sales have increased by 46% QoQ compared to Q4 2022, when they were at 24.6k units. In FY’23, there were 82,146 units sold in total. If the chip shortage had not negatively impacted operations in the first half of FY’23, sales could have been higher, claims Ravneet Singh Phokela, Chief Business Officer at Ather Energy.
In FY’24, Ather Energy anticipates that their sales momentum will remain strong.
Ather has consistently added new retail locations across the nation to promote a quicker uptake of its electric scooters. The company’s retail locations increased by 4X in FY23, from 30 to 116 stores. Additionally, Ather has been growing its network of fast charging locations.
Since more than 900 charging points have been added in FY23, Ather’s rate of adding new charging stations is truly commendable. The largest two-wheeler fast charging network in the nation, Ather now has 1224 fast charging stations in total.
Additionally, Ather Energy has been working with outside parties to install charging stations in key locations. These are advantageous for commuters who may use electric two-wheelers in addition to other forms of transportation like the metro, bus, etc. Recently, ten MRTS and suburban stations in Chennai received charging stations thanks to a partnership between Ather and Southern Railways.
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