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Electric Scooter Sales in August 2023 in India | Ola Electric still on the top

By
Mohit Kumar
Mohit Kumar
|Updated on:01-Sep-2023 04:35 PM

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ByMohit Kumar

Updated on:01-Sep-2023 04:35 PM

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Despite minor fluctuations, the industry shows promise, emphasizing the growing demand for sustainable transportation options.

Electric Scooter Sales in August 2023 in India | Ola Electric still on the top

Electric Two-Wheeler Market Sees Impressive Growth in August 2023, Led by Bajaj and TVS"

"Ola Electric Maintains Strong Position Despite a Minor Dip in Sales"

In the rapidly evolving landscape of electric two-wheelers, the August 2023 sales data reveals a promising growth trend with some key players leading the charge. According to the latest figures, the industry witnessed a 16.79% Month-over-Month (MoM) sales increase, totalling 56,236 units compared to 48,149 units in July 2023.

Electric Scooter Sales in August 2023 in India | Ola Electric still on the top

Bajaj and TVS emerged as the frontrunners, showcasing remarkable growth rates of 58% and 47%, respectively, in August 2023. Bajaj's aggressive marketing strategies and the release of new models seem to have paid off, while TVS's diverse electric vehicle portfolio continues to attract customers.

Ather, with a 5.83% MoM growth, and BGauss Auto, boasting a 39.48% growth rate, also made substantial strides in the market, demonstrating growing consumer interest in electric scooters.

Despite a slight dip in sales by 4%, Ola Electric remained a dominant player in the industry. Ola Electric's consistent sales figures indicate a strong and loyal customer base.

However, it wasn't all positive news for the electric two-wheeler market. Okinawa experienced a significant setback with an MoM decline of -12.99%, possibly due to increased competition in the market.

In the midst of this growth, Hero MotoCorp faced a challenging month, with a 7.97% MoM decline in sales. This downturn might prompt the company to reevaluate its electric vehicle strategy.

On a positive note, Okaya EV and Hero Electric maintained stable positions, with Okaya EV's sales growing by 46.24%, and Hero Electric's sales showing a marginal 0.51% increase.

Electric Scooter Sales Growth in August 2023

BrandsJuly Sales'23August Sales'23Mom Growth
Ola Electric19,34318,621-4%
TVS10,38315,36547%
Ather6,67170605.83%
Bajaj4,116653458%
Greaves Electric2,158292335.40%
Okinawa2,2631969-12.99%
Okaya EV785114846.24%
BGauss Auto66192239.48%
Hero MotoCorp990911-7.97%
Hero Electric7797830.51%
Total48,14956,23616.79%

The overall sales growth of the electric two-wheeler market in August 2023 is a promising sign of the industry's potential. With innovation and competition driving the market forward, consumers can look forward to an even more diverse and advanced range of electric two-wheelers in the coming months.

As environmental concerns and the need for sustainable transportation continue to gain importance, the electric two-wheeler market appears poised for further expansion, with manufacturers like Bajaj and TVS leading the way.


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