November the Peak sales of electric scooter
In November 2023, there was a significant surge in the sales of electric two-wheelers (E2Ws) in India.
A total of 91,243 units were sold, which marked the highest monthly sales performance of the year. This number surpassed the previous peak that occurred after the subsidy reduction in June 2023.
November 2023 Sales of electric two-wheelers bring a lot of positivity in the electric scooter segment.
Moreover, the total unit sales were 91243 with 38% sales growth compared to Nov 2022 A significant jump in sales figures.
The Trend is encouraging to electric two-wheeler enthusiasts.
Furthermore sales data below for electric scooters on Vahan Portal indicates phenomenal month-on-month growth.
This indicates that new buyers are considering electric scooters while making a buying decision.
The Vahan portal’s sales trend for electric two-wheelers has returned to an upward trend after a setback due to the reduction of Fame-2 subsidies in May 2023, which is reflected in the figures.
The top-selling brand is led by Ola Electric with 40% market share and followed by TVS Motor 20% market share and Bajaj.
Additionally as the electric scooter segment grows, legacy OEM brands such as TVS, Bajaj, and Hero MotoCorp are entering the race.
The top Brands
Ola Electric Scooter
The Ola Electric Scooter is to currently leading the top-selling brands in India. With the aggressive campaign of #EndofICEAge, Ola Electric has become a popular choice for customers, with a range of options among brands like Ola S1, Ola S1 Pro, and Ola S1 Air, all available in multiple colors.
Moreover Ola scooter is comparatively more affordable than other leading brands. However, the after-sales service is still a concern as there is a long backlog of service requests for the vehicle. Ola needs to improve the performance of their respective service stations to address this issue.
Ola electric scooter is equipped with
Stylish design
Excellent range and top speed
Powerful performance
Feature-rich
Good value for money
TVS Motor iQube Electric Scooter
TVS Motors has shown a significant increase in its electric scooter sales, with its TVS iQube variant now ranking as the second-largest selling brand in India.
TVS is a nearly hundred-year-old company with a pan-India dealer network that provides after-sales service and makes its electric scooters accessible to enthusiasts across the country.
Furthermore the company has announced plans to launch five more electric two-wheelers by 2024 to expand its range of offerings.
TVS iQube Known for
Stylish design
Good range and top speed
Easy to ride and handle
Feature-rich
Reliable brand
TVS Has already launch the premium electric scooter TVS-X Which is a class of electric scooter which shows the tvs motor company capability to build newer brands in electric scooter and technology showcase.
Bajaj Electric
Bajaj Auto Limited, a well-known Indian motorcycle manufacturer, entered the electric scooter market with the launch of the Chetak in 2020.
The Chetak is a premium electric scooter that offers a blend of classic styling, modern features, and practical performance.
Bajaj Electric Scooter is equipped with
Stylish design
Good range and top speed
Easy to ride and handle
Packed with features
Reliable brand
Although electric scooters still have a higher upfront cost than petrol scooters, industry experts predict that within two years, the prices of both types of scooters will be the same..
Recent research indicates that the cost of Lithium-ion batteries has been consistently decreasing. Initially, the cost of 1 KWh was 150 USD, but now it is 115 USD.
There has been a significant improvement in battery chemistry, resulting in safer and more powerful capabilities.
Now the awareness as well as availability of electric scooters is also increasing you can have electric scooters in any of the cities in our country.
Need to improvement
All-electric scooters are still in their nascent stage, but there is continuous technological improvement happening both in our country and globally.
The following need to be improved to bring the complete revolution in electric scooters-
Charging infrastructure needs to improve
Having a charging infrastructure for electric two-wheelers can increase riders’ confidence in avoiding battery drain-out situations.
In urban areas, it is observed that the average daily ride for these vehicles ranges from 40-60 km, which is enough to meet the daily requirement while charging at home.
However, if there is a need to charge outside the home, it can be charged in a normal electric socket available anywhere.
Spare parts are available in the service centre as well as open market
Electric scooter Spare parts are not available at the outside store, it will be helpful to riders in the need of urgency.
Trained Technician
There are very few trained electric scooter mechanics. The manufacturer needs to educate the outside mechanic for the electric scooter.
Roadside assistance
A roadside assistance ecosystem needs to be developed for electric scooter emergency service.
More improved Battery technology
It has been observed that some electric scooter brands are experiencing thermal incidents (fire), indicating a need for more stringent quality control and newer, safer technology for all electric scooters.
More number of models
Currently, the customer has a very limited choice of electric scooter more choices and model is needed to fulfill the requirements, particularly motorcycle options.
Exclusive E-Scooter Showroom
Some brands sell petrol scooters along with electric ones, requiring a specialized sales team with exclusive product knowledge to raise awareness.
Awareness in the public domain
Awareness campaigns are crucial to promoting electric scooters and their advantages over petrol scooters.
Continuation of Govt subsidies
Although the Indian government as well as many state governments have provided a lot of support for the adoption of electric two-wheelers, this should continue until the price of electric scooters goes down.
To summaries in November 2023, the Indian electric scooter industry achieved a significant milestone, showcasing robust consumer demand and a promising future for this eco-friendly mode of transportation.
It was the best performing month since the subsidy reduction in June 2023. Below are some of the key highlights..
