January 2023 Retail Sales Report: Performance of Major Electric 2W Brands Highlighted

CalenderPublished at February 8, 2023 by BikeJunction
January 2023 Retail Sales Report: Performance of Major Electric 2W Brands Highlighted

In India, sales of electric two-wheelers have increased at a soaring rate, breaking previous records every month. Sales of electric two-wheelers topped 60,000 in January 2023.

In India, 2022 was a significant year for electric cars (EVs). More than 10 lakh EVs were sold nationwide, with a startling 6 lakh being electric two-wheelers. The electric two-wheeler market has continued to exhibit this excellent sales performance until 2023 with no indications of slowing down. On the contrary, sales growth from the prior year is only accelerating.

Ola Electric Sales: 18,245 units

Ola Electric had exceptional performance in January 2023 and took the top spot on the sales list. The business cemented its position as a leading player in the market by selling 18,212 units of its well-liked S1 and S1 Pro electric scooters.

This astounding accomplishment is made even more amazing by the fact that Ola Electric has sold more than 16,000 e-scooters for four months in a row. By becoming the first company in the sector to reach this level of sales performance, the company has established a new standard.

TVS Electric Sales: 10,404 units

Sales of TVS’s electric two-wheelers have increased, with the company recording its highest-ever monthly sales figures of 10,378 units in January 2023. This outstanding performance has assured the company’s second-place finish in the rankings for retail sales.

Demand exists for the new iQube and iQube S. The iQube ST, the flagship electric scooter from TVS, was just introduced at the Auto Expo 2023. This new product will be added to the company’s inventory later this year after receiving favourable feedback.

Ather Energy Electric Sales: 9,139 units

Ather Energy is a different company that has seen significant development in the sales of electric two-wheelers. In January, Ather supplied 9,110 450X electric scooters, placing third on the sales list. In addition, Ather just produced its 100,000th electric scooter at its Hosur, Tamil Nadu, manufacturing facility.

While Ather announced sales of 12,149 units for the month of January 2023, the VAHAN portal operated by the government only displays 9,139 registrations, which is probably because some states are not included in the portal’s coverage area. Even still, the figures for January 2023 represent a significant increase over those for December 2022, when registrations totalled 7,652 units.

Hero Electric Sales: 6,393 units

Hero Electric, one of the industry leaders just a few months ago, only saw 6,393 registrations in January 2023. This represents a significant decrease from its December 2022 numbers of over 8,000 copies and is a long cry from the five-digit sales it was previously averaging a few months ago.

Hero Electric’s FAME-II subsidy has been suspended since October as a result of the components’ failure to come from a local source, as required under the subsidy.

Okinawa Autotech Electric Sales: 4,404 units

Okinawa Autotech is the other manufacturer whose subsidies have been cut off that is being investigated. Okinawa’s sales figures have dramatically decreased ever since the FAME-II subsidy was terminated, just like Hero Electric.

Ampere Vehicles Electric Sales: 4,366 units

Only 4,366 new registrations were accepted by Ampere, which is a minor decrease from its December 2022 levels. Along with the NXG and NXU E-scooter ideas, Ampere introduced the new Primus e-scooter at Auto Expo 2023.

Chetak Technologies Limited Electric Sales: 2,615 units

Bajaj, the other established brand in the EV industry (like TVS, which only sells one EV), sold 2,615 units of its Chetak electric scooter overall in January 2023, down from 2,888 units in December. Because Chetak has fewer retail locations than the competition, sales have been constrained. In some places, like Mumbai, the e-scooter is shown and sold from KTM dealerships. However, that will soon change as the Chetak EV will only be sold and maintained through a network of exclusive Chetak showrooms throughout India.

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