Electric two-wheeler demand hits a high note as sales rise 18% in June-September

High speed electric two-wheeler sales have grown 18 percent year-on-year (YoY) since June 1, highlighting a growing consumer interest in electric mobility post the lockdown.

According to data shared by the Society of Manufacturers of Electric Vehicles (SMEV), 6,976 high-speed electric two-wheelers have been sold between June and September, compared to 5,897 units sold in the same period last year.

The petrol-powered two-wheeler market, which as of September-end is expected to be little over 5.6 million, remained in the negative for the same period.

The Society of Indian Automobile Manufacturers (SIAM) is yet to release two-wheeler sales data for September.

In September, sales of high-speed electric two-wheelers (HS E2W)  increased by 72 percent YoY, with the registration of 2,544 units.

This is the first time that the SMEV has shared sales data for a month. As a practice, the body shares EV sales data annually.

“We are experiencing huge customer interest in greener vehicles as they have seen how the environment looks like when no fuel-guzzling vehicles are running on roads. The upcoming festive season will add to the pent-up demand and help OEMs to recover what they lost in the first and second quarter due to COVID-19 pandemic-led lockdown,” Sohinder Gill, Director General of the SMEV, said.

The trend, however, changes when sales for the first six months of the current financial year are considered. Between the period of April and September, the industry registered sales of 7,552 HS E2W as against 10,161 HS E2W sold in the corresponding period of the last financial year.

During the six months ended September, Hero Electric remained the leading player in the electric two-wheeler space with a market share of 35 percent, followed by 24 percent of Okinawa Autotech.

Hero MotoCorp-backed Ather Energy had a share of 12 percent.