Electric Two-Wheeler Registrations Decline in July, TVS Motor Posts Growth

Registrations for electric two-wheelers (E2Ws) in India saw a sequential decline of 1.7% in July, with 1.91 lakh units registered compared to 1.94 lakh in June. However, TVS Motor defied the broader market trend, posting a 10% growth in its registrations and maintaining its leadership position.

Despite the monthly dip, the E2W market demonstrated strong year-over-year growth, with registrations increasing by 85% from 1.03 lakh units in July of the previous year. This recovery follows a slowdown experienced in the latter half of the previous year, during which monthly registrations dropped to a low of 97,989 units in December.

TVS Motor solidified its top position by registering 52,032 units in July, up from 47,413 in June. The company's market share in the E2W segment exceeded 27%. TVS Motor has been actively expanding its electric scooter portfolio and international presence.

In contrast, Ola Electric experienced a significant drop in registrations, falling 19.5% to 13,085 units in July. The company's market share slipped to approximately 7%, amid ongoing financial and operational challenges, including petitions from suppliers over alleged unpaid dues.

The overall trend reflects a growing Indian EV ecosystem. Cumulative EV registrations across all vehicle segments have surpassed 1 crore (10 million) units, making up over 8.5% of the country's total automobile market.