Ranked fifth among the many OEMs, Greaves Mobility recorded retail gross sales of two,606 models in February, up from 2,536. Securing a 3% market share, the corporate maintained a constant month-on-month market share of three%. In a strategic transfer in February 2024, Greaves Electrical Mobility initiated a collaboration with Zero21, an vitality options firm based mostly in Hyderabad. This partnership goals to reinforce the accessibility of Zero21’s electrical autorickshaws, together with fashions like Chalo and Teer.
Including one other vital collaboration to its portfolio, Greaves Electrical Mobility additionally partnered with Abdul Latif Jameel in February 2024. These strategic alliances replicate Greaves Electrical Mobility’s dedication to increasing its presence within the electrical mobility area and contributing to the broader ecosystem.
6] HERO MOTORCORP
Securing the sixth place within the prime 10 record, Hero MotorCorp Ltd. reported retail gross sales of 1,750 models in February, up from 1,494 in January, reflecting a 2percentmarket share and 17% MOM development. The corporate is gearing as much as elevate its presence within the electrical car (EV) area in 2024. The CEO, Niranjan Gupta, introduced plans to launch three electrical scooters, catering to the ‘mid,’ ‘reasonably priced,’ and ‘business-to-business (B2B)’ segments. Presently, the corporate completely sells the ‘Vida’ electrical scooter, launched in October 2022.
In a notable improvement, ACKO, a personal sector common insurance coverage firm in India, has launched an prolonged battery guarantee plan particularly designed for detachable batteries of electrical automobiles (EVs). This plan applies to the VIDA V1, the inaugural EV launched beneath the rising mobility model by Hero MotoCorp. Protecting the car for the fourth and fifth years and as much as 60,000 km, this plan addresses buyer considerations relating to battery life and efficiency, contributing to enhanced acceptance of electrical automobiles.
7] BGUASS AUTO
Because the seventh participant on the record, Mumbai-based BGauss Auto reported 1,349 gross sales in February 2024, a marginal lower from 1,487 within the earlier month. With a month-on-month development charge standing at -9% and a modest market share of two%, BGauss Auto faces challenges in boosting its gross sales and market place. The corporate lately launched the BG C12i EX e-scooter, which has a variety of 85 km.
To spice up gross sales and enhance its place, BGauss Auto must deal with product innovation, introducing superior options or new fashions. Sturdy advertising and marketing campaigns are important to focus on the advantages of their electrical scooters. Exploring collaborations for charging infrastructure, financing, or fleet gross sales can broaden market attain. Conducting buyer education schemes will improve consciousness of electrical scooters’ benefits. A dependable after-sales service community is essential for buyer satisfaction.
8] WARDWIZARD MOBILITY
Securing the eighth place on the record, Wardwizard Improvements and Mobility Restricted confronted a gross sales decline in February 2024, registering solely 840 automobiles in comparison with January’s 976 models. This dip resulted in a mere 1% market share, coupled with a discouraging unfavourable month-on-month development of -14%. To rectify this downturn, Wardwizard ought to discover avenues for product enchancment, incorporating modern options or launching upgraded fashions to pique client curiosity. Moreover, a focused and impactful advertising and marketing technique might be instrumental in creating consciousness in regards to the model and its choices, probably increasing the client base.
9] OKINAWA AUTOTECH
Occupying the ninth place on the record, Okinawa Autotech confronted a difficult month in February 2024, reporting complete retail gross sales of solely 600 automobiles. This marked a lower from January’s gross sales determine of 683 automobiles, contributing to hurdles in reaching optimistic month-on-month development and market share. With a meager 1% market share and a unfavourable month-on-month development of -3%, Okinawa Autotech should strategically reassess its gross sales method, exploring avenues for product innovation, focused advertising and marketing, and potential pricing changes to regain momentum within the aggressive electrical car market. Adopting a complete technique is crucial for Okinawa Autotech to beat present challenges and solidify its standing within the dynamic panorama of electrical mobility.