Story overview
In February 2023, three manufacturers – market leader Ola Electric, TVS Motor Co and Ather Energy – registered new vehicle retails of over five figures. Let’s take a closer look at how the electric two-wheeler market fared last month:
The Figures: Rank 1 and 2
All sales numbers are from the government’s VAHAN portal as of March 8, 2023.
Ola Electric: 17,667 units
Ola Electric sold 17,667 units, the company saw its second-best monthly sales this fiscal. The company holds a 27 percent market share in this segment for February with a total of 1,29,866 units sold in the first 11 months of FY2023.
TVS: 12,573 units
TVS Motor Co took the No. 2 position for the second straight month with a 19 percent market share. The company February’s 12,573 units as per VAHAN are its best monthly sales yet.
The Rest of the Pack
Ather Energy: 10,013 units
Ather Energy is in third position with 10,013 units in February 2023. Meanwhile, cumulative 11-month sales stand at 63,963 units.
Hero Electric: 5,861 units
Previous Market leader Hero Electric sold 5,861 units in February 2023. Hero’s cumulative sales for FY2023 so far stand at 80,954 units. The company slowed-down monthly sales due to its FAME-II subsidy being revoked.
Ampere: 5,842 units
Ampere Vehicles with 5,842 units in February 2023 is the No. 4 manufacturer in February. The company sold 74,932 units to its name for the first 11 months of FY2023.
Okinawa Autotech: 3,842 units
Okinawa Autotech also had its FAME-II subsidy revoked, which has led to a sales figure decline. The manufacturer managed 3,842 registrations in February. Okinawa’s cumulative sales for FY2023 stand at 89,785 units.
Chetak Technology: 1,314 units
Bajaj sold a total of 1,314 units of its Chetak electric scooter in February 2023. Recently, the company slashed prices, increased the range, and launched a new variant of the Chetak, to boost the e-scooter’s sales in the upcoming months.
Story By
Saurabh Upadhyaya
