Electric Two-Wheeler Sales Data: October 2023
In the world of electric two-wheelers, something remarkable happened last month. The sales of these eco-friendly rides surged by a whopping 17%. And the total for last month? A staggering 74,252 units, a significant leap from September month’s 63,706. What’s even more exciting is that some industry players managed to break their own sales records, defying the odds. It’s like a ray of sunshine in the industry, showing how people are increasingly realizing the benefits of electric two-wheelers.
Before going into any more details, let’s see which companies made it to the top 10 and what their performance was month on month.
| SEP | OCT | MOM Growth (%) | Market Share (%) | |
|---|---|---|---|---|
| OLA ELECTRIC TECHNOLOGIES PVT LTD | 18615 | 23644 | 27 | 32 |
| TVS MOTOR COMPANY LTD | 15576 | 16340 | 5 | 22 |
| BAJAJ AUTO LTD | 7087 | 8932 | 26 | 12 |
| ATHER ENERGY PVT LTD | 7135 | 8289 | 16 | 11 |
| GREAVES ELECTRIC MOBILITY PVT LTD | 4135 | 4470 | 8 | 6 |
| HERO MOTOCORP LTD (HERO VIDA) | 530 | 1914 | 261 | 3 |
| OKINAWA AUTOTECH PVT LTD | 1774 | 1450 | -18 | 2 |
| BGAUSS AUTO PRIVATE LIMITED | 936 | 1169 | 25 | 2 |
| LECTRIX EV PVT LTD | 735 | 1139 | 55 | 2 |
| WARDWIZARD INNOVATIONS (Joy E Bike) | 686 | 904 | 32 | 1 |
THE RISE OF HERO MOTORCORP, LECTRIX
In October, some companies shone in the market in October. Hero MotoCorp takes the lead with the highest growth compared to the previous month. Their success story can be credited to a mix of smart marketing, festive season discounts, and a strong network of dealers. These companies cleverly responded to what people wanted, proving that the industry can adapt and thrive.
And, not to be left out, Lectrix EV private limited also had a good month, selling more vehicles than they did in September. It’s a testament to their solid strategy in action.
