The Electric Vehicle (EV) market witnessed a boost in September 2024 with a remarkable 23 per cent year-on-year growth. However, on a month-to-month basis, it was only marginal. The EV volumes grew 20 per cent in the first half of the current fiscal as compared to the same period in 2023. In September 2024, the total EV registrations across all segments was 1.59 lakh units compared to 1.29 lakh units in the same month last year. According to Vahan data, September 2024’s figure is slightly higher as compared to the 1.57 lakh units registered in August 2024.
Talking about Electric two-wheeler sales, 0.90 lakh units were sold in September 2024. This marks an increase from 0.64 lakh units in September 2023 and a slight rise from 0.89 lakh units sold in August 2024. Furthermore, in the electric three-wheeler segment, 0.63 lakh units were sold in September 2024. This segment too recorded an increase with 0.58 lakh units sold in September 2023 and a slight rise from 0.89 lakh units sold in August 2024.
Electric Two-Wheeler Sales In September 2024
Ola Electric continued to dominate the electric two-wheeler market despite registering a drop in sales from 27,587 units in August 2024 to 24,659 units in September 2024. Bajaj Auto progressed well in September this year with the registration of 19,103 units against 16,789 units. Bajaj Auto was followed by TVS Motor which registered 18,084 units in September, recording an increase from 17,649 units in August 2024.
Ather Energy registered a growth as its sales volumes rose to 12,676 units in September (10,980 units). Hero MotoCorp witnessed a drop with 4,304 units (4,755 units), while Greaves Electric Mobility recorded 2,775 units (2,821 units).
Electric Three-Wheeler Sales In September 2024
Mahindra Last Mile Mobility continued to dominate the electric three-wheeler segment as it sold 6,087 units in September (5,105 units). Bajaj Auto missed the top spot as it was close to Mahindra Last Mile Mobility with 5,004 units in September (4,032 units).
With 3,826 units (3,793 units), YC Electric Vehicle recorded a slight increase, while Piaggio’s sales rose to 1,683 units (1,560 units).
Meanwhile, the electric passenger vehicle (PV) segment, including cars and SUVs, witnessed a decline with 5,761 units (6,632 units).
The combined EV registrations in the first half of the current fiscal saw an increase with 8.93 lakh units compared to 7.45 lakh units in the same period in 2023.
