Electric Two-wheeler Sales Report: June 2023

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Electric Two-wheeler Sales Report: June 2023 

Electric two-wheeler sales which had reached a new peak in May, saw a sudden fall in June this year. The sales of electric two-wheelers dropped month-by-month to 61 percent.  They were severely impacted after the FAME II subsidy on electric vehicles was reduced by the government in India. 

Many people bought electric two-wheelers in the month of May. This led to an increase in the sales data of electric two-wheelers in the month of May but resulted in a significant decrease in the month of June.

The reduction in the FAME-II subsidy by the Ministry of Heavy Industries is having a significant negative impact on the growth of India’s electric two-wheeler market. The sudden fall in registration and sales of two-wheelers is a direct fallout of capping incentives, which has led to an increase in retail prices across the EV two-wheeler industry.

Top Electric Scooter Selling Companies in June 2023 

The FAME-II subsidy capping has hit most of India’s leading two-wheeler companies, including Ola Electric, Hftero Electric, Ather Energy, Ampere Electric, Bajaj Chetak, etc.

SR. N.Company NameSales in May Sales in JuneMOM Growth (%)
1.OLA ELECTRIC 28,62917,552-39%
2.TVS MOTORS20,3987,791-62%
3.ATHER ENERGY15,4074,540-71%
4.AMPERE ELECTRIC 107903,038 -72%
5.BAJAJ CHETAK 100642,969-70%
6.OKINAWA AUTOTECH2,9072,615-10%
7.HERO ELECTRIC 2,8571,595-24%
8.PUR ENERGY 50982061%
9.JOY E-BIKES36343821%
10.OKAYA EV 3,876425-89%

 

Top Selling Electric Motorcycle Companies in June 2023 

https://e-vehicleinfo.com

While the electric scooter players faced a significant decrease in their sales, a few electric bike players like Revolt, Ultraviolette, Kabira, etc still managed to perform well despite the reduction in subsidy.

SR.N.Company NameSales in May Sales in JuneMOM Growth (%)
1.REVOLT MOTORS57171125%
2.TORK MOTORS 21044-79%
3.ULTRAVIOLETTE 254164%
4.KABIRA MOBILITY 121417%
5.HOP ELECTRIC 1311-15%

 

CONCLUSION 

While the increased EV prices might temporarily slow down India’s electric two-wheeler industry, it is expected that the customers will start to absorb the price hikes and retail sales shall recover gradually. 

Read More:- Piaggio One Active Price, Range & Specification

Vrinda Mehul Pandya
Vrinda Mehul Pandyahttps://e-vehicleinfo.com/
I am Vrinda Pandya, a Passionate Content writer. I am indebted to my parents for whatever I am today. They are the ones who have always pushed me towards my greatest potential.

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