August saw a 14-month low for the overall number of electric vehicle (EV) registrations across all categories, along with sharp drops in monthly and yearly sales. Both electric two-wheelers and three-wheelers were impacted by this declining trend, however the latter was able to outsell the former in terms of sales volume for the month.
According to Vahan figures, the total number of registrations for all-electric vehicle categories was roughly 106,000 in August, which is a 17% decline from the approximately 128,000 units registered in July.
When sales were broken down, electric two-wheelers showed a sharp decline. In August, registrations for these vehicles fell to 46,085, a considerable decrease from 61,498 in July and 62,646 in August of the previous year. While everything was going on, electric three-wheelers continued to do somewhat better, with 54,861 registered—a reduction from the 56,581 in August of last year and the 59,151 in July.
In terms of individual business achievements, Ola Electric topped the electric two-wheeler market despite seeing a decline in sales from 18,602 units in July to 12,628 units in August. Despite a decline in sales to 9,514 units from 11,555 in July, TVS Motor was still the second-largest seller. Sales figures declined for Bajaj Auto, Ather Energy, Hero MotoCorp, and Greaves Cotton as well.
Mahindra Electric Mobility led the market in sales of electric three-wheelers, selling over 4,500 units, albeit fewer than the 6,504 units it sold in July. 4,030 units were sold by Bajaj Auto, a little rise over July’s numbers. While TI Clean Mobility, a division of the Murugappa Group, experienced a little increase in sales, other firms such as YC Electric Vehicle and Piaggio also reported changes in their volumes of sales.
In addition, there was a reduction in the number of electric car registrations, which fell from 6,855 in July to 4,755 in August. This ended a month in which the market for electric vehicles saw significant declines.
