The Indian electrical two-wheeler (E2W) market noticed a notable shift in management throughout December 2024, highlighting evolving shopper preferences and intensified competitors throughout the sector.
Beforehand dominated by Ola Electrical, the electrical two-wheeler trade skilled a metamorphosis, with established gamers like Bajaj Auto and TVS Motors now taking the lead. In December 2024, Bajaj Auto achieved the highest spot in E2W gross sales, recording 18,276 items bought, adopted carefully by TVS Motors at 17,212 items. This variation signifies a shift in shopper loyalty in direction of manufacturers perceived as dependable, providing higher service and extra reasonably priced pricing, finally surpassing Ola Electrical, which had held the market lead for an prolonged interval.
Electrical Two-wheeler Gross sales Knowledge in December 2024
Let’s study the highest 10 Authentic Gear Producers (OEMs) within the electrical car trade for December 2024:
- EV Producer | Nov Gross sales | Dec Gross sales | MoM Progress (%) | Market Share (%)
- Ola Electrical | 29,252 | 13,769 | -52.93 | 20.56
- TVS Motor Co | 27,208 | 17,212 | -36.74 | 25.7
- Bajaj Auto | 26,357 | 18,276 | -30.66 | 27.29
- Ather Vitality | 12,909 | 10,421 | -19.27 | 15.56
- Hero MotoCorp | 7,344 | 1,020 | -86.11 | 1.52
- Greaves Electrical Mobility | 4,470 | 2,795 | -37.47 | 4.17
- Bgauss Auto | 1,878 | 1,100 | -41.43 | 1.64
- Kinetic Inexperienced Vitality | 1,096 | 601 | -45.16 | 0.9
- Wardwizard Improvements | 980 | 784 | -20 | 1.17
- Revolt Intellicorp | 2,001 | 994 | -50.32 | 1.48
Bajaj Auto
Bajaj Auto’s gross sales led the E2W market in December 2024, overtaking Ola Electrical. Though retail gross sales fell to 18,276 items from 26,357 items in November, this marked a month-over-month decline of -30.66%. Nonetheless, its market share elevated to 27.29%.
TVS Motors
TVS Motors additionally surpassed Ola Electrical, reaching second place with gross sales of 17,212 items in December, down from 27,208 items in November. This resulted in a month-on-month lower of -36.74%, bringing its market share to 25.7%.
Ola Electrical
As soon as the chief, Ola Electrical skilled a drop to 3rd place, promoting 13,769 items, in comparison with 29,252 items in November. This vital lower interprets to a month-over-month decline of -52.93% and a diminished market share of 20.56%.
Ather Vitality
Ather Vitality maintained its fourth place, recording 10,421 items in December. The corporate skilled a month-on-month decline of -19.27%, holding a market share of 15.56%.
Greaves Electrical Mobility
Greaves Electrical climbed to the fifth place, promoting 2,795 items, which additionally mirrored a month-on-month decline of -37.47% and a market share of 4.17%.
Bgauss Auto
Bgauss Auto superior to sixth place with gross sales of 1,100 electrical two-wheelers, down from 1,878 items in November, leading to a month-on-month lower of -41.43%. The corporate holds a market share of 1.64%.
Hero MotoCorp
Hero MotoCorp slipped to seventh place, with gross sales plummeting to 1,020 electrical two-wheelers from 7,344 items bought in November. This sharp decline represents a month-on-month progress discount of -86.11%, resulting in a market share of 1.52%.
Revolt Intellicorp
Revolt Intellicorp fell to the eighth place, reporting gross sales of 994 items, a drop from 2,001 items bought in November. This resulted in a month-on-month lower of -50.32%, and a market share of 1.48%.
Wardwizard Improvements
Wardwizard Improvements entered the leaderboard at ninth place, promoting 784 items, down from 980 in November. This decline led to a month-on-month discount of -20%, and a market share of 1.17%.
Kinetic Inexperienced Vitality
Kinetic Inexperienced Vitality secured the final place with gross sales of 601 electrical scooters, down considerably from 1,096 items bought in November. This marks a month-on-month decline of -45.16%, giving it a market share of simply 0.9%.
Last Ideas
December 2024 showcased intense competitors within the electrical two-wheeler market. Ola Electrical’s market share fell to twenty%, whereas TVS and Bajaj Auto moved forward, capturing market shares of 25% and 27%, respectively. The gross sales knowledge for E2Ws in December displays a aggressive panorama in India, indicating that established producers like Bajaj and TVS are making vital strides, doubtlessly resulting in a extra fierce rivalry sooner or later.
