Electric two-wheelers sales up by 496% in H1(FY22-23), Okinawa tops the chart, Hero slips to third spot | The Financial Express

Electric two-wheelers sales up by 496% in H1(FY22-23), Okinawa tops the chart, Hero slips to third spot

The momentum in the overall electric two-wheeler segment continues. While on yearly comparison the total sales tally clocked a 496 percent jump at 2,79,594 units for the H1(FY22-23).

Electric two-wheelers sales up by 496% in H1(FY22-23), Okinawa tops the chart, Hero slips to third spot
The H1(FY22-23) results see Okinawa Autotech enduring the first spot while other key players indicate promising growth graphs in terms of Y-o-Y sales.

As per the latest sales data, the booming EV industry continues to dominate the two-wheelers in terms of demand and sales. 

The momentum in the overall electric two-wheeler segment continues. While on yearly comparison the total sales tally clocked a 496 percent jump at 2,79,594 units for the H1(FY22-23) compared to the 56,361 sold units for the H1(FY21-22). 

On month-on-month comparison, the sales tally showed a 2.3 percent gain over the 50,508 EVs sold in August.

The H1(FY22-23) results see Okinawa Autotech enduring the first spot, Ola attaining stability while other key players like Hero Electric, Ampere and TVS indicate promising growth graphs in terms of year-on-year sales.

Hero Electric slips to the third spot after a two-month consecutive hold of the first spot. The sales tally in September accounted for 8,017 units of total sales compared to the 10,481 and 8,956 EVs sold in August and July respectively, noting a 245 percent increase in the H1 year-on-year sales.

Okinawa continues to remain the top performer and grabs the pole position. The two-wheeler manufacturer saw a drop in sales with a tally of 8,277 units compared to the August sales of 8,559 units. 

The company, however, marked a 472 percent Y-o-Y increase for the H1(FY22-23) with a total sales tally of 52,234 units compared to 11,070 sold units during the H1(FY21-22). 

Ampere Vehicle slipped to the fourth spot with 6,189 units for September compared to the previous month with 6,399 sold EVs. The company has picked up well, accounting for 1111 percent Y-o-Y H1(Fy22-23) sales accounting for 37,830 sold units compared to only 3,406 units sold last year in the same period.  

Another laggard, Ola Electric, seems to have regained a stable position in the market after a consistent drop in sales in the past few months. For September, the Bengaluru-based company sold 9,616 units compared to only 3,440 units sold in August. The total H1 sales for Ola Electric stand at 44,791 units. 

Company Units sold in August’22Units sold in September’22Units sold in H1(FY21-22) Units sold in H1(FY22-23)Total Y-o-Y growth (%)
Okinawa Autotech8,5598,27711,07052,234472%
Ola Electric3,4409,61644,791
Hero Electric10,4818,01717,71143,389245%
Ampere Vehicles6,3996,1893,40637,8301111%
TVS Motor5,2976,1576,96822,363321%
Bajaj Auto 6,3093,9322,50618,393734%
Revolt Intellicorp2,5842,5572,15012,289572%
Pure Energy1,6488361,91210,053526%
Being India Energy8767514,9116972142%
Total 50,50851,67956,3612,79,594496%
Top 10 – Electric two-wheelers sales H1(FY22-23)
source: Vahan Data

 Ather Energy, securing the fifth spot for H1(FY22-23) sales with a remarkable 321 percent Y-o-Y increase. The sales tally stands at 6,157 units compared to the 5,297 sold units in August this year.  

TVS Motors, with a whopping 734 percent H1 Y-o-Y increase recorded sales of 18,393 units compared to the 2,506 units last year. The company, however, witnessed a decline in M-o-M sales accounting for only 3,932 units in September compared to the 6,309 units sold in the previous month. 

With an initial slow start, Bajaj Auto is also stepping the ladder with a 572 percent H1 Y-o-Y increase. The company sold 2,557 units in September compared to 2,584 units in August.

Read more: Electric two-wheelers sales up by 13% in August, Hero Electric takes pole position 

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