New Delhi: February 2024 witnessed a surge in registrations of electrical two-wheelers, marking a considerable 24% year-on-year progress in high-speed scooters. This information, sourced from Vahan, reveals a snapshot of the E2W market, with important gamers showcasing their prowess within the evolving E2W sector.
February’s registrations of high-speed E2Ws totaled 81,963 models, sustaining a steady month-on-month standing. A noteworthy level is the one additional day this February, contributing to the expansion. The year-to-date common month-to-month run price stood at 73,190 models, showcasing a 21% year-on-year improve in comparison with the earlier fiscal yr’s common of 60,500 models.
The electrical two-wheeler penetration price for February 2024 reached 5.7%, a marginal uptick from January’s 5.6%, underlining the sustained momentum of E2Ws out there.
Ola Electrical continued to dominate the charts, retaining its prime spot with 33,722 models registered in February 2024. The corporate not solely secured the very best registrations but additionally commanded a formidable 41.1% market share. This achievement was bolstered by a strategic value reduce within the closing 15 days of the month.
Following Ola Electrical had been stalwarts like TVS Motors at 17.7%, Bajaj Auto at 14.2%, and Ather Vitality at 11%. Greaves Electrical, previously often known as Ampere, captured 3.2% of the market share.
Prime 10 E2W gamers by quantity in February 2024:
Ola Electrical (33,722 models)
TVS Motor (14,499 models)
Bajaj Auto (11,618 models)
Ather vitality (8,983 models)
Greaves Electrical (previously Ampere) (2,606 models)
Hero MotoCorp (1,750 models)
Bgauss Auto (1,349 models)
Wardwizard (840 models)
Okinawa (660 models)
Okaya EV (657 models)
Analyzing the month-on-month efficiency, some good performers included Hero MotoCorp with a notable 17.1% progress, Okaya EV at 13.1%, and Bajaj Auto at 6.9%. Ola Electrical, regardless of its already dominant place, showcased an extra 4.4% progress. On the flip aspect, Wardwizard, Bgauss Auto, TVS Motor, Ather Vitality, and Okinawa confronted challenges with adverse progress charges.
On MoM foundation the highest performers had been:
Hero MotoCorp (+17.1%)
Okaya EV (+13.1%)
Bajaj Auto (+6.9%)
Ola Electrical (+4.4%)
Greaves Electrical (+2.8%)
On MoM foundation the underperformers had been:
Wardwizard (-13.9%)
Bgauss Auto (-9.3%)
TVS Motor (-5.3%)
Ather Vitality (-3.8%)
Okinawa (-3,4%)
