Rushlane’s Report According to , in March 2024, TVS, Bajaj and Ather achieved a market share of 82.52% with combined sales of 1,15,061 units. Ola Electric reportedly saw good growth in the retail market. The month of March proved to be a good one for the four leading e-scooter manufacturers, with all manufacturers registering growth both year-on-year and month-on-month. Retail sales increased to a total of 1,39,531 units in March 2024, up from 86,358 units sold in March 2023, while sales in February 2024 stood at 82,237 units.
Talking about year-on-year growth, Ola Electric has won the list here. The company’s total sales in March 2024 stood at 53,320 units, which was 148.75% higher than 21,435 units sold in March 2023. At the same time, month-on-month sales were also 57.54% higher than the 33,846 units sold in February 2024. Ola Electric’s market share currently stands at 38.21%.
Talking about TVS Motor, the total retail sales of the company having a single model (iQube) in March this year was 26,501 units, whereas in March last year the company had sold 16,893 units. Whereas, 14,537 units were sold in February this year. This was a growth of 56.88% YoY and 82.30% MoM.
Bajaj Auto also only has the Chetak EV, which has seen a massive growth of 295.52% year-on-year. While the company was able to sell 4,553 units in March last year, the figure in March this year was 18,008 units. Compared to 11,699 units sold in February last year, the company has registered an increase of 53.93%.
Talking about Ather Energy, the company’s portfolio of multiple models registered a YoY growth of 41.44% and MoM growth of 91.38%. The company had sold 17,232 units in March 2024.