In February 2023, three manufacturers – market leader Ola Electric, TVS Motor Co, and Ather Energy – reported new vehicle retail sales in excess of five figures. Let’s look at how the electric two-wheeler market performed in terms of sales in the previous month.
In recent few months, the two wheeler market has seen the major swift towards electric segment from Petrol bikes or scooter. And companies are also making hard efforts to provide best quality and designed product for customers to grab the market.
As per the sales report , three manufactures Ola electric , TVS Motors and Ather are on the top in the list.
Ola Electric sold 17667 units in February
Ola Electric saw its second-best monthly sales this fiscal year with 17,667 units, trailing only January 2023’s 18,282 units. It is at the top of the rankings, with a 27 percent share of this segment in February. With a total of 1,29,866 units sold in the first 11 months of FY2023 and a significant lead over rival OEMs, the company is poised to be the market leader this fiscal year.
TVS Motors’s sale unit in February
TVS Motor Co is the surprise package, taking the No. 2 spot for the second month in a row and holding a 19% market share. The company’s market performance has consistently improved month after month, and February’s 12,573 units, according to VAHAN, are its best monthly sales yet, surpassing the 10,423 units sold in January. However, TVS reported higher sales of 15,522 units in February, which is likely due to the fact that the VAHAN portal does not include data for a few states.
Ather Energy Salas sale unit in February
Ather Energy is ranked third, with 10,013 units sold in February 2023, its best monthly retails since its inception. However, Ather, like TVS, has reported higher sales of 12,147 units this month. The Bengaluru-based startup narrowly outperformed its previous month’s performance of 9,139 units. Meanwhile, total 11-month sales stand at 63,963 units.
Ampere Sales units
Ampere Vehicles is the fourth largest manufacturer in February 2023, with 5,842 units sold, and has sold 74,932 units in the first 11 months of FY2023. In our market, the company recently introduced the new Primus e-scooter and updated the Zeal EX.
Hero Electric Sales unit
Hero Electric, the previous market leader, sold 5,861 units in February 2023. This is a decrease from the manufacturer’s January 2023 target of 6,393 units. So far, Hero has sold 80,954 units in fiscal year 2023. The company’s monthly sales have slowed as a result of the revocation of its FAME-II subsidy.
Okinawa Sales unit
Okinawa Autotech, like Hero Electric, had its FAME-II subsidy revoked, resulting in a drop in sales. In February, the manufacturer received 3,842 registrations, down from 4,404 units in January 2023. Okinawa’s total sales for FY2023 are 89,785 units.
Chetak Technology sales units
In February 2023, Bajaj sold 1,314 units of its Chetak electric scooter, down from 2,615 units in January. The company recently reduced prices, expanded the range, and introduced a new variant of the Chetak, which should boost sales in the coming months.