Electric Three-wheelers Sales
Electric three-wheeler sales in March 2023 experienced an incredible surge! Registered passenger and cargo-type E3Ws rose by 23% and 56%, respectively, over the previous month. This is just the tip of the iceberg since the overall E3W sales increased by 26% over last month.
Top Electric Rickshaw Selling Companies
Name of E3W company
|March||MOM Growth %|
|YC Electric Vehicle||2,584||3,095||19.78|
|Saera Electric Auto Pvt. Ltd.||1,854||2,244||21.04|
|Mahindra Reva Electric Vehicles Pvt. Ltd.||1,611||937||-41.84|
|Dilli Electric Auto Pvt. Ltd.||1,552||2,061||32.80|
|Mahindra and Mahindra Limited||2,088||3,538||69.44|
|Champion Poly Past||1,236||1,310||5.99|
|Mini Metro EV L.L.P||942||1,265||34.29|
|Piaggio Vehicle Pvt. Ltd.||1,056||1,432||35.61|
|Hotage Corporation India||634||782||23.34|
Moreover, on a YoY basis, passenger E3W sales increased by a staggering 90%, and cargo E3W sales rose by 83%, from those in March 2022. The electrification trend is here to stay, and the stats speak for themselves!
Across both passenger and cargo-transporting models, electric three-wheelers sold a total of 404,143 units in FY2023, achieving year-on-year growth of 118%, compared to FY2022’s 185,173 units.
Top 5 Electric Three-wheeler Leaders in the Market
But who are the market leaders in this ever-expanding market? The top eight electric 3-wheeler players accounted for a whopping 37.66% share of the entire E3W market in March 2023. And guess who claimed the top two spots?
Mahindra and YC Electric, with 9.89% and 6.84% market share, respectively. Saera Electric Auto, Dilli Electric, Piaggio, Champion Poly Plast, Mini Metro, and Unique International also made an outstanding performance!
The numbers speak volumes about the E3W market’s prospects. And with the electrification trend in full swing, we can expect a steady rise in E3W sales in the years to come.
|Electric Three Wheeler Company||Sales for FY23|
|Mahindra Last Mile Mobility||35,013 units|
|YC Electric||29,753 units|
|Saera Auto||21,853 units|
|Dili Electric||16,480 units|
|Champion Ploypast||13,948 units|
The demand for electric three-wheelers is not limited to passenger vehicles. Cargo-type E3Ws saw an incredible surge of 56% from last month, indicating a shift towards sustainable goods transportation. The stats are clear: electric three-wheelers are here to stay, and the industry is only going to grow. It’s time to embrace the electrification trend and pave the way for a cleaner, and greener future.