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Electric Three-Wheeler Sales: September 2023
In a significant development in the electric vehicle (EV) market, September 2023 has witnessed a noteworthy surge of 12% in the sales of electric three-wheelers. The sales data climbed from 4,761 units to an impressive 5,361 units during the month, signaling a growing preference for eco-friendly transportation options.
Electric Three-wheeler Sales Data Table
|Company||August Sales||September Sales||MoM Growth||Market Share SEP|
|MAHINDRA & MAHINDRA||671.0||599.0||-10.73||29%|
|E ROYCE MOTORS||154.0||110.0||-28.571||5%|
|KINETIC GREEN ENERGY||227.0||40.0||-82.379||2%|
Top Performers in Passenger Electric three-wheeler
Leading the pack of top performers in this surge were prominent companies like PIAGGIO VEHICLES PVT LTD, BAJAJ AUTO LTD, and TI CLEAN MOBILITY PVT LTD. These industry players demonstrated impressive sales figures and played a pivotal role in driving the overall growth of the electric three-wheeler segment.
Declining Figures in Passenger Electric three-wheeler
While the industry as a whole experienced a remarkable upswing, a few players faced challenges in September. MAHINDRA & MAHINDRA LIMITED witnessed a decline of 107 vehicles in their sales, reflecting a temporary setback. DILLI ELECTRIC AUTO PVT LTD also faced a decline, with a reduction of 41 vehicles. ATUL AUTO LTD registered a decrease of 6 vehicle sales during the same period.
For a clearer understanding, we have prepared a tabular representation of the sales data:
|Company||August Sales||September Sales||Status of Sales||MoM Growth||Market Share SEP|
|MAHINDRA & MAHINDRA LIMITED||2560.0||2453.0||-107.0||-4.0||44%|
|PIAGGIO VEHICLES PVT LTD||1,604||1,739||135.0||8.0||31%|
|BAJAJ AUTO LTD||200.0||656.0||456.0||228.0||12%|
|TI CLEAN MOBILITY PVT LTD||134.0||218.0||84.0||63.0||4%|
|DILLI ELECTRIC AUTO PVT LTD||127.0||86.0||-41.0||-32.0||2%|
|ATUL AUTO LTD||82.0||76.0||-6.0||-7.0||1%|
|CONTINENTAL ENGINES PVT LTD||35.0||43.0||8.0||23.0||1%|
|RASANDIK ENGINEERING INDUSTRIES INDIA LTD||8.0||37.0||29.0||363.0||1%|
|ATUL GREENTECH PRIVATE LIMITED||0.0||28.0||28.0||100.0||-|
|KAPTECH INDIA PVT LTD||11.0||25.0||14.0||127.0||-|
Electric Three-Wheeler Cargo Sales
The sales data for electric three-wheeler cargo vehicles in September 2023 has revealed a notable decline. With a month-on-month decrease of 18%, the market witnessed a shift in dynamics that warrants a closer look.
Despite the overall dip in sales, several players stood tall as the top performers in the electric three-wheeler cargo vehicle segment. Companies like OMEGA SEIKI PVT LTD, 3EV INDUSTRIES PVT LTD, and DILLI ELECTRIC AUTO PVT LTD showcased resilience and strong market presence, contributing to the industry’s ongoing progress.
The Mahindra Factor: A Change in Fortunes
One of the most significant takeaways from the September sales data is the performance of MAHINDRA & MAHINDRA LIMITED, a behemoth in the electric vehicle market. In a surprising turn of events, this industry giant, along with Altigreen Propulsion Labs Pvt Ltd, Piaggio Vehicles Pvt Ltd, Euler Motors Pvt Ltd, Atul Auto Ltd, And E Royce Motors India Pvt Ltd, experienced a decline in their sales numbers.
This shift in fortune for MAHINDRA & MAHINDRA Ltd, a major player in the market, highlights the dynamic nature of the EV sector. It also raises questions about the factors contributing to this decline. Is it a momentary setback or the beginning of a larger trend? Only time will tell.
These figures show that the rise in electric three-wheeler sales is a growing sign for the EV industry, highlighting the increasing acceptance of clean transportation alternatives. Another major factor that is playing a major role is the price incentives, and tax exemptions given by the governments all around India.
The decline in sales for September could be attributed to a multitude of factors, including market saturation, changing consumer preferences, or even supply chain disruptions. It’s essential to remember that such fluctuations are a natural part of any industry’s growth trajectory.
It would be exciting to take note of these amazing developments down the hill and it will be fascinating to observe how these trends evolve and how industry players adapt to the changing landscape of electric three-wheeler sales in India.
Read More:- Electric Two-Wheeler Sales Data: September 2023