Electric 2W Sales Report For March 2024: Ola, TVS, Bajaj and Ather are Major Key Players

The E2W segment in India has witnessed significant growth in FY2024. With a total retail sales reaching 9,35,000 units, the growth represents a substantial increase of 29% as compared to the sales figure of FY2023 with 7,28,201 units. In March 2024, total sales reached almost 1,30,000 units, which is an impressive growth of 65.42% for a month-on-month basis.

Electric Two Wheeler: MoM Sales Report 
 

Electric Two Wheeler: YoY Sales Report 

Top 7 E2W Performance in March 2024

Ola Electric: Recorded the highest month-on-month growth rate of 48.97%, Ola has achieved the highest-ever monthly sales by selling 50,538 units in March 2024. Ola Electric has demonstrated exceptional growth year-on-year, more than doubling its sales from March 2023 to March 2024. This achievement can be considered as the result of price reduction offers and discounts Ola introduced in March, 2024 on its S1 line. Currently Ola is offering Ola S1 Pro, S1X and S1 Air. Along with this Ola has also announced unveiling of Ola Solo, India's 1st autonomous e-scooter. 

TVS Motor Company: Experienced a remarkable growth rate of 81.18%, with a recorded sales of 26,465 units of electric two wheeler segment, TVS’ impressive growth inclined with its futuristic plan of expanding its electric vehicle presence in the market in India as well as in Nepal and Europe. Moreover TVS has come up with the strategic planning of expanding its EV portfolio in every segment to cater to a wider and different range of customers. Currently the brand offers only TVS iQube in electric two wheeler category. TVS Motor has also experienced significant growth year-on-year, with sales increasing by over 57%.

Bajaj Auto: Achieved a growth rate of 52.40%, no wonder, this achievement has been a result of Bajaj’s efforts to provide electric mobility solutions by expanding its Chetak network. Bajaj Auto has witnessed exponential growth year-on-year, with sales nearly quadrupling from March 2023 to March 2024.

Ather Energy: Witnessing an impressive growth rate of 89.76%, Ather has become a trusted brand because of advanced features equipped with a 450 lineup of e-scooters. Ather Energy has maintained steady growth year-on-year, albeit at a slightly slower rate compared to some other players.  The overall m-o-m growth of Ather is remarkable. The brand has been offering some of the best and most popular scooters like 450s, 450x, and 450 Apex. With the launch of the upcoming scooter Rizta, the sales rate is expected to grow higher in the month of April.

Hero Electric: Hero has experienced a decline in sales year-on-year, however, the company has recorded a notable growth rate of 131.33%, indicating its increasing presence in the electric two-wheeler segment. Hero has shown remarkable growth in its E2W segment, and the same will be achieved with the upcoming launches of new two-wheelers by the brand. Currently, Hero was in the news for filing a patent application for a new e-scooter. Moreover, Hero is also focusing on its electric two wheeler oriented brand line Vida. Hero has claimed to bring a new e-scooter to its Vida product line.

Kinetic Green: Experienced an exceptional growth rate of 527.21%, highlighting its rapid expansion in the market. The growth is for sure the result of the launch of new Kinetic Zulu and Kinetic E-Luna. Furthermore, to expand its portfolio, Kinetic Green has patented new designs for Kinetic E-Luna with additional storage capacity; the scooter is expected to launch in the Indian market by the end of 2024. Kinetic Green has exhibited outstanding growth year-on-year, with sales increasing more than fivefold.

Okaya EV: The company has showcased growth of 87.67% on a Month-on-Month basis. Despite relatively lower market shares, Okaya EV exhibited significant growth rates, indicating their potential for future expansion.

Also Read: List of Upcoming Two-Wheelers Expected to Debut this April

Factors Driving March 2024 Surge

The rise in sales in the month of March 2024 can be influenced by several factors:
  
1. Subsidy Reduction Deadline: The first and foremost reason in the present scenario must have to be the subsidy reduction which is scheduled from April 1, 2024. Buyers must have rushed to purchase the preferred electric two wheeler to get their EVs at lower prices before the implementation of new Electric Mobility Promotion Scheme 2024 (EMPS). This scheme however has provided continued subsidy for electric two wheeler for next four months starting from April 1st 2024.

2. Increased Awareness: No wonder, compared to last few years, now electric two wheelers have been in demand. Amid growing environmental issues and concerns many have shifted toward use of sustainable mobility transports. On top of that, the government is also initiating awareness, schemes and policies which can influence masses to opt for electric vehicles. Such increased awareness must have influenced the growth rate of EV sales eventually.

3. Improved Product Offerings: New updated features and advancements being offered in the electric two wheelers, which has eventually gained the attention of many buyers. The E2W models which are currently present in the market are equipped with better   performance, range, and features, attracting more consumers.

CarBike360 Says

From the last two years the demand for electric two wheelers in India has doubled. The Indian market has witnessed rapid growth in March 2024, which have been driven by factors like subsidy deadlines, increased consumer awareness, and improved product offerings. The performance of all the key players in contributing to the setting up of the electric two wheeler segment as a prominent domain in the Indian automotive industry is commendable.

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.