Registrations for electric two-wheelers decreased slightly by 1.8% month-over-month (MoM) to 61,576 units in September as key brands in the category remained unable to recoup the sales levels seen before the FAME-II debacle.
According to Vahan data as of September 30, 62,683 two-wheeler EVs were registered during the month of August. In actuality, there was a modest decline in registrations in September after two months of growth.
Despite continuing to be the top electric two-wheeler manufacturer, Ola Electric saw a dip in e-scooter registrations of more than 3% MoM in September. The number of registrations for the Bhavish Aggarwal-led electric mobility behemoth was 18,138 units as opposed to 18,716 units in August.
Two-wheeler electric vehicle registration trends till now in 2023
Despite the company beginning the distribution of its new S1 Air e-scooter towards the end of last month, its vehicle registrations experienced a tiny decline. Ola Electric had 19,377 vehicles registered as of July this year. While TVS Motor continued to rank second in terms of registrations, its number of units fell by 3.6% from 15,473 in August to 14,917. Similar to this, Ather Energy had a 3.3% decrease in e-scooter registrations in September, from 7,126 units to 6,892 units.
The Bengaluru-based electric two-wheeler firm, according to a recent media source, wants to double its market share in the e-scooter market to 25–30% by the end of FY24. Ather Energy now holds an 11% market share in this industry.
Bajaj Auto, on the other hand, has begun to gain ground in the electric two-wheeler market. From 6,573 units a month earlier, there were 6,791 units more vehicles registered there in September. In terms of vehicle sales, the leading two-wheeler manufacturer in India is behind Ather Energy just a bit.
Hero Electric has also begun to show signs of recovery after suffering a severe decline at the start of this year. In September, it registered 816 e-scooters, a 4.2% MoM increase.
Hero Electric’s car registrations decreased from 6,400 units in January this year to 783 units in August and 779 units in July.
Electric two-wheelers continue to have low demand
It should be mentioned that Hero Electric was one of the businesses that the government was watching for stealing FAME-II funds. Along with more than a dozen other companies, the corporation paid fines to the Centre and was subject to additional regulatory requirements as a result.
With the launch of its A2B brand last month, Hero Electric, which traditionally supplied low-range, non-premium scooters, has joined the luxury scooter industry.
Moving on, Jitendra EV experienced an increase in registrations in September after experiencing a decline in car demand over the previous few months. The number of vehicles registered by the producer of electric two-wheelers, which has recently been in the news for all the wrong reasons, including an EV fire and a breach of FAME-II standards, increased to 160 units in September from 24 units in August and 18 units in July.
However, sales of EVs were still declining at other significant EV two-wheeler producers including Hero MotoCorp and Okinawa Autotech. In September, Hero MotoCorp witnessed a nearly 43% fall in car registrations to 523 units, while Okinawa Autotech saw a 13.8% MoM decline to 1,724 units.
Overall EV sales, which include all categories, decreased from 1,26,907 in August to 1,23,087 units in September.
