Two-Wheeler EV Registrations Decline 18% in August; ola Electric Market Share Dips

Registrations of electric two-wheelers in india dropped by 18% month-on-month (MoM) in august, signaling a slowdown in the EV market. According to data from the Ministry of Road Transport and Highways (MoRTH), total EV two-wheeler registrations fell to 88,473 units in august from over 1.07 lakh units in July.

Ola Electric, which recently went public, saw a significant decline in its market presence. Its total e-scooter registrations slumped 34% MoM to 27,517 units in august, down from 41,993 units in July. This sharp drop indicates a substantial loss in market share for ola Electric, a key player in the segment.

Other major players in the EV market also experienced declines, albeit to a lesser extent. TVS Motor’s registrations decreased by about 11% to 17,544 units in august, compared to 19,640 units in July. Similarly, Bajaj Auto’s e-scooter registrations were down approximately 6% MoM, falling to 16,706 units in august from 17,707 units in July.

Despite these declines, Bajaj auto showed more resilience than its competitors, recording the smallest decrease in registrations. The drop in EV two-wheeler registrations suggests that the market could be facing challenges such as supply chain disruptions, regulatory hurdles, or a seasonal dip in demand.
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Sudha Subbiah

02/09/2024 07:19 PM