Electric Two-Wheeler Registrations Increased 12% in September; Ather, Ola Lost Market Share
Electric two-wheeler (E2W) registrations in India rebounded by 12.2% in September month-on-month. Traditional manufacturers like TVS Motor and Bajaj strengthened their positions, while Ola Electric and Ather Energy saw their market share decline.
Electric two-wheeler (E2W) registrations in India saw a rebound in September, increasing by 12.2% from the previous month to reach 2.07 lakh units. This reverses a downward trend observed over the past two months, with August's figures revised upwards to 1.84 lakh units.
Established original equipment manufacturers (OEMs) TVS Motor, Bajaj, and Hero MotoCorp collectively accounted for approximately 61% of September's registrations. TVS Motor maintained its market leadership with a 26% share, while Bajaj secured the second position with 23.4% market share.
In contrast, newer players experienced mixed results. Ather Energy saw a 4.9% rise in registrations, but Ola Electric's registrations declined by 3.5%. Both companies experienced a decrease in their market share during September.
The recovery in E2W sales occurs amidst a broader strengthening of India's electric mobility market. This growth may be partly attributed to increased inventory and promotional activities by manufacturers and dealers in anticipation of the upcoming festive season.