The electric two-wheeler segment in India continues its upward trajectory, with October 2024 witnessing a significant surge in sales. The festive season proved to be a boon for EV manufacturers, as overall sales increased by a remarkable 85% year-over-year (YoY) to 1,39,031 units.
Electric two-wheeler retail sales in October 2024 recorded 1,39,031 units, marking a strong month for major EV manufacturers. Notably, October brought a significant increase in sales, reflecting the dynamic nature of the market.
EV Manufacturer
SEP
OCT
MoM Growth (%)
Market Share (%)
Ola Electric
24,716
41,605
68.35%
27.35%
TVS Motor Co
18,218
29,890
64.11%
19.66%
Bajaj Auto
19,198
28,188
46.84%
18.53%
Ather Energy
12,847
15,894
23.75%
10.45%
Hero MotoCorp
4,321
3,309
-23.45%
2.18%
Greaves Electric Mobility
2,777
3,981
43.36%
2.62%
Bgauss Auto
1,237
2,021
63.36%
1.33%
Kinetic Green Energy
467
1,443
208.77%
0.95%
Bounce Electric
1,006
5,107
407.46%
3.36%
Revolt Intellicorp
703
949
34.99%
0.62%
Ola Electric
TVS Motor
Bajaj Auto
Ather Energy
Hero Motorcorp
Ola Electric continued to dominate the market in October as well and maintained market leadership, followed closely by TVS Motor and Bajaj Auto. Let’s take a closer look at the top 10 Original Equipment Manufacturers (OEMs) in the EV industry for October 2024.
In October, Ola Electric continues to maintain its first position in the electric two-wheeler market leader board. The company reported a substantial increase in sales, with figures rising to 41,605 units compared to 24,716 units in September.
This increase results in a month-over-month growth rate of 68.35%, increasing Ola’s substantial market share to 27.35%.
In a surprising turn of events, TVS Motors surpassed Bajaj and regained the second position in October 2024
The company sold 29,890 units, a significant jump from the 18,218 units sold in September. Its month-on-month growth stands at 64.11%, with a market share of 19.66%.
Bajaj Auto slipped to third position in October 2024, overtaken by TVS Motors.
The company sold 28,188 electric vehicles in October which is a significant increase from the 19,198 units sold in September 2024. Bajaj recorded a month-on-month growth of 46.84% and holds a market share of 18.53%.
Ather Energy maintained the fourth spot in the leader board with sales figure of 15,984 units.
The Bangalore-based E2W OEM had a slight growth from the 12,847 units sold in September, reflecting a 23.75% month-on-month growth. It now holds a 10.45% market share.
Hero MotoCorp, placed in the fifth position, reported a sales of 7,309 units in October 2024, a great jump from 4,321 units sold in September. This represents a solid month-on-month growth and its market share currently stands at 2.18%.
Hero MotoCorp achieved its best-ever monthly retails this month since it has been actively trying to enhancing its brand presence for Vida, with its network boasting 203 touchpoints, including 180 dealers across 116 cities.
The post Electric Two-Wheeler Sales Data- October 2024 | Top 10 E2W Companies appeared first on E Vehicle Info.
