Electric Two-Wheeler Sales in January 2024: Ola, TVS, Bajaj, & Ampere Emerges as Growth Leader

Key Highlights:

• Sales of January 2024 saw a massive YoY growth. Key players were Ola, Bajaj, Ampere and TVS
• The MoM sales of January 2024 reflects progressive growth rate. 

In the ever-evolving landscape of the Indian electric two-wheeler market, February 2024 witnessed notable shifts in sales figures among key manufacturers. Analyzing the data from both month-over-month (MoM) and year-over-year (YoY) perspectives provides crucial insights into the industry's dynamics, market trends, and individual company performances.

Electric two-wheeler MoM Analysis:

The electric vehicle (EV) market in India has witnessed significant growth in recent years, driven by factors such as government incentives, environmental concerns, and technological advancements. In this article, we will analyze the performance of prominent EV manufacturers in January 2024 compared to December 2023, focusing on key metrics such as production numbers and month-on-month (MoM) growth rates.

Ola Electric

Ola Electric, one of the leading players in the Indian EV market, witnessed a production increase from 30,219 units in December 2023 to 32,160 units in January 2024, marking a MoM growth rate of 6.03%. This growth reflects the company's continued efforts to expand its market presence and meet the growing demand for electric vehicles.

TVS

TVS, while experiencing a production decrease from 11,232 units to 16,276 units (-5,044 units), recorded a substantial MoM growth rate of 30.99%. Despite the decline in absolute numbers, this surge in growth indicates a potential rebound for TVS in the EV segment, possibly attributed to strategic initiatives or market dynamics.

Ather Energy

Similarly, Ather Energy reported a production decrease from 6,481 units to 9,209 units (-2,728 units) but achieved a noteworthy MoM growth rate of 29.62%. This suggests resilience in the face of challenges, with Ather Energy making strides towards its long-term objectives despite short-term setbacks.

Bajaj

Bajaj, with a marginal production decline from 10,323 units to 10,742 units (-419 units), saw a MoM growth rate of 3.90%. While the decrease in production is minimal, Bajaj's ability to maintain positive growth reflects its stability in the EV market.

Ampere

Ampere emerged as a standout performer, witnessing a significant production surge from 3,346 units to 15,181 units (11,835 units), translating to an impressive MoM growth rate of 77.95%. This remarkable growth underscores Ampere's strong market position and consumer demand for its products.

Okinawa Electric, Hero Electric, and BGAUSS

In contrast, Okinawa Electric, Hero Electric, and BGAUSS experienced production declines with varying degrees of severity. Okinawa Electric recorded a modest decrease of 282 units (-29.22% growth rate), while Hero Electric saw a substantial decline of 936 units (169.5% growth rate). BGAUSS reported a decrease of 271 units, coupled with a growth rate of 22.32%. These trends highlight the challenges faced by certain manufacturers in maintaining growth momentum amidst competitive pressures and market dynamics.

Electric two-wheeler YoY Analysis:

The electric two-wheeler market has witnessed significant growth and transformation over the past year, driven by factors such as technological advancements, increasing environmental awareness, and government incentives. In this article, we delve into the performance of leading manufacturers in January 2024 compared to January 2023, analyzing their sales figures and growth rates to gain insights into the evolving landscape of electric mobility.

Ola Electric

Ola Electric emerges as a frontrunner in the market, with a remarkable year-on-year growth of 76.26%. This substantial increase from 18,245 units in January 2023 to 32,160 units in January 2024 underscores the company's successful strategies in product innovation, market penetration, and customer engagement.

TVS

TVS demonstrates a commendable growth rate of 33.74%, with sales climbing from 12,169 units to 16,276 units. The company's consistent performance reflects its ability to adapt to changing consumer preferences and leverage its brand reputation to expand its market share.

Ather Energy

Ather Energy, despite a decrease in sales volume from 12,149 units to 9,209 units, experiences a decline of 24.19% year-on-year. This downturn raises questions about the company's market positioning, product competitiveness, and the effectiveness of its growth strategies.

Bajaj

Bajaj emerges as a standout performer, witnessing an extraordinary growth rate of 308.59%. Sales surge from 2,629 units to 10,742 units, indicating the successful execution of expansion plans, strategic partnerships, and product diversification initiatives.

Ampere

Ampere records a substantial growth rate of 268.47%, with sales escalating from 4,120 units to 15,181 units. The company's strong performance can be attributed to its focus on affordability, quality, and distribution network expansion, resonating well with the evolving market dynamics.

Okinawa Electric

Okinawa Electric faces a significant decline of 84.5% in year-on-year sales, plummeting from 4,408 units to 683 units. This downturn emphasizes the challenges the company encounters in maintaining competitiveness amidst intensifying competition and changing consumer preferences.

Hero Electric

Hero Electric showcases an exceptional growth rate of 847.7%, with sales surging from 157 units to 1,488 units. The company's concerted efforts towards product innovation, brand building, and market expansion contribute to its remarkable performance in the electric two-wheeler segment.

BGAUSS

BGAUSS demonstrates a noteworthy growth rate of 107.4%, with sales increasing from 716 units to 1,485 units. The company's focus on delivering value-driven solutions, customer-centric approach, and strategic marketing initiatives fuel its growth trajectory in the competitive market landscape.

CarBike360 Says

Overall, the electric vehicle industry in India continues to witness dynamic shifts in production numbers and growth rates among key manufacturers. While some players demonstrate resilience and strong growth trajectories, others face challenges that require strategic adaptations.

Analyzing sales figures and growth rates provides valuable insights into the performance of key players, enabling stakeholders to formulate informed strategies and navigate the dynamic landscape of electric mobility effectively.

Also Read: Ola Electric's S1 Pro Receives Second Product Certification Under PLI Scheme

Nitin Gadkari Warns Car Manufacturers to Prepare for Strict BS7 Emission Norms

In an announcement, Nitin Gadkari has issued a stern warning to car manufacturers to brace themselves for the upcoming Bharat Stage 7 (BS7) emission norms, which will be as stringent as the Euro 7 standards. This decision has been met with resistance from several European Original Equipment Manufacturers (OEMs), who argue that the timeline is too aggressive and the changes unnecessary.

The primary concern for manufacturers is the technological advancements required to meet these new standards. Many are currently unprepared and worried about the potential increase in production costs. The challenge lies in implementing new components that can effectively reduce emissions without significantly raising the price of vehicles. 

During the 64th annual session press conference of the Automotive Component Manufacturers Association of India (ACMA), the question was raised: "Nitin Gadkari mentioned that BS7 emission norms will be introduced soon and will be as strict as Euro 7 norms. Is ACMA working towards manufacturing components that can reduce harmful vehicle emissions in preparation for these new standards?"

In response, Vinnie Mehta, Director General of ACMA, emphasised the importance of localising component manufacturing. He pointed out that increasing exports and reducing dependency on imports, particularly from China, will help control vehicle manufacturing costs. This approach aims to balance the implementation of stricter emission standards while maintaining cost efficiency in production.

MG's upcoming Cloud CUV, set to launch in India by early 2025, aims to redefine urban mobility with its innovative electric crossover design. Unveiled recently at the 2024 Gaikindo Indonesia International Auto Show (GIIAS), the Cloud CUV is powered by a unique 50.6 kWh battery pack and a single electric motor. Delivering 134 bhp and 200 Nm of torque, the Cloud CUV is optimized for city efficiency, though specific range details are yet to be disclosed. 

MG claims that this intelligent CUV lets you “experience the comfort of a sedan, and expanse of an SUV at the same time”. Joining the MG ZS EV and Comet EV, the Cloud CUV will be the third addition to MG’s electric vehicle line-up. After its India launch, the MG Cloud EV is expected to compete directly with the Tata Nexon EV and Mahindra XUV400.

Measuring approximately 4.3m in length, 1.85m in width, and 1.65m in height, with a 2.7m wheelbase, the MG Cloud CUV offers ample interior space.

The Cloud CUV’s exterior design stands out with:

• A distinctive silhouette featuring a short hood
• All-LED lighting system
• Flush door handles
• 18-inch Ferris-shaped alloy wheels

The Cloud CUV's interior has a luxurious ambiance due to the soft-touch material and rose-gold accents. It also features a 15.6-inch infotainment screen and an 8.8-inch digital instrument cluster. Comfort features include electrically adjustable front seats, 256-color ambient lighting, and a wireless charger.

MG has prioritized safety in the Cloud CUV, equipping it with four airbags, an electric parking brake, and a comprehensive ADAS suite including adaptive cruise control. The vehicle also offers practical features like expandable boot space, reaching up to 1,707L with rear seats folded.

While official pricing remains undisclosed, industry experts anticipate the MG Cloud CUV to be positioned slightly above the MG ZS EV, reflecting its advanced features and unique crossover design.

As electric vehicles gain popularity in India, MG's Cloud CUV aims to cater to urban consumers seeking a blend of SUV practicality and sedan-like comfort. This innovative approach could potentially set a new standard in the evolving electric crossover segment, offering a compelling option for those looking for versatility and advanced technology in their daily drive.

Maruti Suzuki's Grand Vitara SUV might soon make headlines for its safety features. A leaked video suggests that this popular SUV is currently being tested by Bharat NCAP, India's safety rating agency. If the claims are true, the Grand Vitara will be the first Maruti Suzuki car to receive a safety rating from Bharat NCAP.

Testing and Expected Results

The video, which surfaced on YouTube, shows several images of the Grand Vitara undergoing various crash tests. These include frontal impact, pole impact, and side impact tests—key elements that determine a vehicle's safety rating. Though the authenticity of the video hasn't been verified, it has generated significant interest among car enthusiasts.

Launched in 2022, the Grand Vitara had not been subjected to crash tests by any agency until now. Maruti Suzuki, India’s largest car manufacturer, had previously announced that flagship models like the Grand Vitara, Brezza, and Baleno were listed for Bharat NCAP tests. The results are eagerly awaited and could be officially announced soon.

Competitor Comparison

The Grand Vitara competes with other popular SUVs in the compact segment, such as the Hyundai Creta and Kia Seltos. If the Grand Vitara achieves a high safety rating, it could bolster its standing in the market. The SUV is built on the Global C Platform from Suzuki, which also underpins other Maruti models like the Brezza. The Brezza secured a four-star safety rating at the Global NCAP crash tests, hinting that the Grand Vitara might achieve at least a four-star rating at Bharat NCAP, if not higher.

Maruti’s Safety Commitment

Maruti Suzuki's focus on safety is evident in the Grand Vitara’s features. The SUV comes equipped with six airbags, ABS with EBD, ESP, a 360-degree camera, a Head-up Display, Hill Hold and Hill Descent Control, traction control modes, seat belt reminders for all occupants, and ISOFIX child seat mounts. However, not all these features are standard across all variants. The leaked video indicates that at least two variants of the Grand Vitara have been crash-tested.

Addressing Safety Concerns

With new models like the Grand Vitara and Brezza, Maruti Suzuki aims to address safety concerns among buyers. The company is striving to shed its reputation for producing cars with sub-par build quality. Improved platforms and advanced safety features are part of this strategy.

Even the latest generation of the Swift hatchback, launched earlier this year, received a three-star safety rating at the Euro NCAP crash tests. The Swift tested for European markets includes dual front airbags, side head airbags for all occupants, side chest airbags, and side pelvis airbags for front occupants, showcasing Maruti’s commitment to enhancing safety features.

Carbike360 Says

The anticipation surrounding the Grand Vitara’s potential high safety rating at Bharat NCAP highlights Maruti Suzuki’s efforts to improve vehicle safety standards. If the SUV achieves a high rating, it will not only boost its market appeal but also reinforce Maruti’s commitment to safety. Car enthusiasts and potential buyers are keenly awaiting the official announcement of the results.

Hyundai Motor India Limited (HMIL) announced a significant milestone for its popular SUV, the new Hyundai CRETA 2024. Launched in January 2024, this SUV has achieved remarkable success, selling one lakh units in just six months.

Sales Success

• Over 550 units sold per day: The new Hyundai CRETA 2024 has seen an impressive sales rate, with over 550 units sold daily in the past six months.

• 1 Lakh sales milestone: The vehicle has delighted one lakh customers since its launch in January 2024.

Official Statement

Mr. Tarun Garg, COO of Hyundai Motor India Limited, expressed his excitement over this achievement: "We are thrilled with the remarkable achievement of the new Hyundai CRETA 2024. Our SUV has achieved another milestone of one lakh sales, reaffirming its strong fan following in its segment. We are confident that the Hyundai CRETA will continue to set new benchmarks in the Indian automobile industry and delight customers.”

Design and Features

The new Hyundai CRETA 2024 is built on Hyundai’s Global Design Language of ‘Sensuous Sportiness’. It offers a bold design that appeals to tech-savvy customers who love to explore.

Key Features:

• Advanced Level 2 ADAS safety suite

• Powerful 1.5-litre Turbo GDI engine

• Panoramic sunroof

• Adaptive cruise control

• Ventilated seats

• 10.25-inch touchscreen infotainment system

• 360-degree camera

These features ensure a superior driving experience, combining comfort, convenience, and cutting-edge technology.

A Legacy of Success

The Hyundai CRETA brand has sold over 10 lakh units since its first launch in India in 2015. The new Hyundai CRETA 2024 continues this legacy, setting new standards in the SUV segment and remaining a favorite among customers.

Citroen has officially introduced its latest SUV, the Basalt, which is set to compete directly with the Tata Curvv in the growing SUV Coupe segment. Both vehicles aim to make SUV Coupes more accessible in India, a segment previously dominated by luxury brands.

Design and Exterior Highlights

The Citroen Basalt boasts a distinctive design, sharing its underpinnings with the C3 Aircross. It features a sleek coupe roofline that extends to the trunk lid, pronounced fender flares, and plastic cladding, enhancing its rugged yet elegant appearance. The front is characterized by chunky bumpers and headlamps carried over from the C3 Aircross, while the rear gets a new set of tail lamps and a faux skid plate. The sides are adorned with new alloy wheels, complementing the overall dynamic look.

Pierre Leclercq, Head of Citroen Design, described the Basalt as a blend of SUV robustness and coupe elegance. He noted, “The New Citroën BASALT combines the strength of SUV codes with the elegance of a Coupe. Its falling roofline nods to iconic models like the CX and the popular C4.”

Interior and Features

The Citroen Basalt promises a well-appointed interior, featuring a vibrant digital instrument cluster and a 10.25-inch touchscreen infotainment system. It will offer front and rear armrests with cup holders, a phone holder on the rear armrest, and Type-C charging ports. The vehicle will also include wireless charging, cruise control, and automatic climate control. For connectivity, it will support wireless Android Auto and Apple CarPlay.

Engine and Performance

Under the hood, the Basalt will be powered by a 1.2-litre three-cylinder turbo petrol engine, delivering 109 bhp and up to 205 Nm of torque. It will be available with a 6-speed manual transmission or an automatic torque converter.

Production and Launch

The Citroen Basalt is expected to launch in August 2024. The production model closely resembles the concept version, featuring a coupe roofline and split grille. The SUV Coupe will be positioned as a more affordable alternative to other SUV Coupes in India, with an anticipated starting price of around Rs 10 lakh (ex-showroom).

Rivals and Market Position

The Basalt will compete with the Tata Curvv and other compact SUVs like the Hyundai Creta, Maruti Grand Vitara, Honda Elevate, and Skoda Kushaq. It aims to offer a stylish and practical option in a segment that has typically been more premium.

Overall, the Citroen Basalt presents a compelling alternative in the SUV Coupe segment, combining sleek design with practical features and a competitive price point.

Yamaha has introduced its groundbreaking Y-AMT semi-automatic gearbox technology on the 2024 MT-09 street naked motorcycle. This innovative system, weighing just 2.8 kg, is set to revolutionize the riding experience in the performance motorcycle segment. The Y-AMT technology, optimized for sporty riding, will debut on the 2024 MT-09 model equipped with the powerful 890cc CP3 three-cylinder engine, producing 120 PS.

The Y-AMT system allows riders to switch between automatic and manual shifting modes via a dedicated toggle on the switchgear. In manual mode, riders can use "+" and "-" paddles on the left handlebar to change gears, similar to paddle shifters in cars. The absence of a traditional clutch lever and foot-operated gear selector simplifies the riding experience.

Key features of the Y-AMT system include:

• Integration with ride-by-wire throttle for optimized performance
• Compatibility with cruise control and various riding modes
• D and D+ modes for relaxed and performance-oriented riding, respectively

This development puts Yamaha in direct competition with other manufacturers exploring semi-automatic transmissions, such as BMW and KTM. However, Yamaha's focus on performance-oriented motorcycles sets it apart from competitors primarily targeting adventure and touring segments.

While Yamaha has showcased several multi-cylinder motorcycles to Indian dealers, including the YZF-R3, YZF-R7, MT-03, MT-07, and MT-09, only the R3 and MT-03 have been launched in India so far. The introduction of the MT-09 Y-AMT in the Indian market remains uncertain at this time.

The Y-AMT technology represents a significant advancement in motorcycle engineering, potentially influencing future developments in the industry. As manufacturers continue to explore innovative transmission solutions, riders can expect more options that blend performance with ease of use in the coming years.