In February, registrations of high-speed E2Ws reached a complete of 81,963 models, sustaining a gradual month-on-month standing. It is price noting that the presence of an extra day in February contributed to this development. The year-to-date common month-to-month run price stood at 73,190 models, displaying a exceptional 21% improve in comparison with the earlier fiscal 12 months’s common of 60,500 models.
The electrical two-wheeler penetration price for February 2024 reached 5.7%, a slight improve from January’s 5.6%, highlighting the sustained momentum of E2Ws available in the market.
Main the pack in February 2024 was Ola Electrical, retaining its high spot with 33,722 models registered. Not solely did Ola Electrical safe the best registrations, nevertheless it additionally commanded a formidable 41.1% market share. This accomplishment was additional strengthened by a strategic value lower within the ultimate 15 days of the month.
Following Ola Electrical have been distinguished gamers like TVS Motor with a market share of 17.7%, Bajaj Auto at 14.2%, and Ather Vitality at 11%. Greaves Electrical, previously often known as Ampere, captured 3.2% of the market share.
Prime 10 E2W gamers by quantity in February 2024:Ola Electrical (33,722 models)
TVS Motor (14,499 models)
Bajaj Auto (11,618 models)
Ather power (8,983 models)
Greaves Electrical (previously Ampere) (2,606 models)
Hero MotoCorp (1,750 models)
Bgauss Auto (1,349 models)
Wardwizard (840 models)
Okinawa (660 models)
Okaya EV (657 models)
On MoM foundation the highest performers have been:
Hero MotoCorp (+17.1%)
Okaya EV (+13.1%)
Bajaj Auto (+6.9%)
Ola Electrical (+4.4%)
Greaves Electrical (+2.8%)
On MoM foundation the underperformers have been:
Wardwizard (-13.9%)
Bgauss Auto (-9.3%)
TVS Motor (-5.3%)
Ather Vitality (-3.8%)
Okinawa (-3,4%)
