Despite the FAME II subsidy reduction, sales of electric two-wheelers, which had shown a big decline in June of this year, are slowly and steadily growing and have seen astonishing growth in August. Despite the 25% subsidy cut, August turned out to be a fantastic month for India’s E2W business, which is now back on pace with total sales of approximately 60,000 EVs.
A large price increase and a drop in sales were the immediate effects of the FAME II subsidy’s fall from 40% to 15% on the Indian electric vehicle ecosystem. Many of the EV manufacturers unveiled a selection of cost-effective vehicles to solve the issue and boost sales. This move was a brilliant attempt to entice more clients; it brought about a new wave in the EV Industry and increased sales this month.
August 2023 Electric Two-Wheeler Sales Report: Top Electric Scooter Selling Companies in August 2023
- Ola Electric
- TVS Motor
- Ather Energy
- Bajaj Chetak
- Ampere Vehicles
- Okinawa Autotech
- Okaya Ev
- Bgauss Auto
- Hero Vida Electric
- Hero Electric
Top 5 Manufacturers of Electric Scooters in August 2023
In August 2023, Ola Electric continued to hold the top spot in the market, ahead of TVS Motors, Ather Energy, Bajaj Auto, and Ampere Electric. The top 5 spots are unchanged from the previous month.
The most electric two-wheelers were sold by Ola Electric. In August 2023, it sold 18,621 electric two-wheelers, gaining a 30% market share. When Ola Electric’s new Ola S1 Range goes on sale in August, it will have increased the selection of electric scooters it offers. In just two weeks after its launch, it attracted over 75,000 bookings thanks to a very strong market response.
With a 20% market share and impressive sales of 15,365 electric scooters, TVS maintained its second-place ranking.
With a market share of 11% and 7,060 electric vehicle deliveries, Ather was able to keep its third-place ranking in August.
With 6,534 and 3,695 sales, respectively, and market shares of 10% and 6%, Bajaj Auto and Ampere Electric also succeeded in holding onto the fourth and fifth spots.
Top Electric Motorcycle-selling Companies
- Revolt Intellicorp Pvt Ltd
- Tork Motors Pvt Ltd
- Ultraviolette Automotive Pvt Ltd
- Hop Electric Mobility Pvt Ltd
- Kabira Mobility Llp
While the sales of electric scooters gradually increased, a few electric bike manufacturers, including Ultraviolette and Kabira, saw a decline in sales in August 2023 compared to the prior months.
While the electric two-wheeler sector may have momentarily slowed down in June due to the increase in EV prices brought on by the withdrawal of subsidies, the market will pick back up in August 2023. Compared to ICE vehicles, customers are really interested in investing in electric two-wheelers. Due to the approaching festival season, sales in September will be stronger than we had anticipated.
