EV sales momentum continues through festive season, October sales jump two-fold | The Financial Express

EV sales momentum continues through festive season, October sales jump two-fold  

October 2022 saw a fair bit of traction in the electric two-wheeler registrations, accounting for 75,294 units, up 49 percent MoM.

EV sales momentum continues through festive season, October sales jump two-fold  
In October, as per Vahaan data, Ola took over the top slot, followed by Okinawa.

With the festive season coming to an end, October 2022 saw a fair bit of traction in the electric two-wheeler registrations, accounting for 75,294 units, up 49 percent MoM from  50,508 units sold in September. 

While most of the players have been performing well and the momentum remained intact, the sales tally saw a two-fold jump when compared to 19,809 registered units in the same month, the previous year. 

In October, as per Vahaan data, Ola took over the top slot, followed by Okinawa. Climbing up the ladder, Ampere secured the third spot and Hero electric slipped to the fourth position. Other key players like Ather, TVS Motors, Bajaj Auto also maintained a steady momentum.

For October, Ola sold 16,129 units, up 67.7 percent from the 9,616 units sold in September. 

Hero Electric’s October sales tally accounted for 8,753 units compared to 8,017 EVs sold in September, up 9.1 percent on a MoM basis.

CompanyUnits sold in September’22Units sold in October’22MoM increaseUnits sold in October’21YoY increase
Ola Electric9,61616,12967.70%
Okinawa8,27714,12119.34%4,086245.59%
Ampere6,1899,87859.60%1,046844.36%
Hero Electric8,0178,7539.10%6,26737.47%
Ather Energy6,1577,27618.17%2,648174.77%
TVS Motor6,1575,7406.70%4861081.07%
Bajaj Auto3,9323,413-13.10%754352.65%
Total50,50875,29449%19,809280.10%
Source: Vahan data

Okinawa grabbed the second spot for a consecutive second time. The Haryana-based company clocked 14,121 registrations in October compared to the 8,277 units in the previous month, up 19.34 percent. 

The company marked a considerable jump compared to the 4,086 sold units during the same month last year. 

Ampere, accounting for a 59.6 percent MoM increase, stayed at the third spot with 9,878 vehicle registrations compared to the 6,189 units sold in the previous month. 

The company has picked up sales momentum this fiscal, especially compared to only 1,046 units sold last October.  

TVS Motors, has ramped up the game a big time, selling 5,740 units compared to the 486 units sold in the same period, last year. 

The company, secured the sixth spot, registered a 6,157 unit sales. However its sales saw a degrowth of 6.7 percent compared to last month. 

Ather Energy sold 7,276 units, up 18.17 percent from 6,157 units sold in September. The Bangalore-headquartered company registered a significant jump in sales compared to the 2,648 units in October 2021. 

Bajaj Auto has also amped up the game, registering sales of 3,413 units compared to the 754 units sold last year in October. The company, however, saw a 13.1 percent drop compared to the 3,932 units sold in the previous month. 

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First published on: 04-11-2022 at 16:59 IST