Electric Vehicles are a growing market in the country. Its demand is expected to increase in the coming year. The September month has the best performance with 25% growth on a YoY basis. While the six months or first half of FY 25 has shown 19% YoY growth. Let us discuss more about the top EV companies’ performance below. If we include all the segments, there was a total registration of 1.49 Lakh units in September 2024. It was earlier 1.47 lakh units in August 2024. Thus, there was only a slight increase in the performance. However, it has a good increase every year from 1.19 lakh units in September 2023.
How Is The EV Segment Performing In September 2024?
EV segment has overall growth in all segments. If we talk about September 2024, there was a total registration of 1.49 lakh units in all segments. While it was 1.19 lakhs units in September 2023 and 1.47 lakhs in August 2024. The total registrations in the first half of FY 25 from April 2024 to September 2024 was 8.37 lakhs units rather than 7.02 lakhs in last year. Following are details about the EV segment’s top companies’ performances.
- Ola Electric: The company was a top performer. Even though it had a fall in the sales of two-wheelers to 23,965 units compared to 26,928 units in August 2024. The company is still having its first-mover advantage.
- Bajaj Auto: The company has a total of 18,933 units of registration in September 2024. While it was only 16,650 units in August 2024. The monthly performance makes the company the second major company in the EV segment.
- TVS Motor: The company secures the third position with 17,865 units registration in September 2024. While it registered only 17,441 units in August 2024.
- Ather Energy: The company has a total registration of 12,759 units in Sep 2024 compared to only 10,919 units in August 2024.
- Hero Motorcorp: The company had a fall in the registrations for electric two-wheelers. The registration was 4,174 units compared to 4,596 units in August.
- Greaves Electric Mobility: The company has a slight fall in the units monthly. It was 2,606 units in September 2024 and 2,640 units in August 2024.
If we talk about the three-wheeler segment, Mahindra Electric is at the top. It sold 5,030 units in Sep 2024 compared to 4,263 units in August 2024. The marker has a total number of registrations for two-wheelers in September 2024 of 0.88 lakhs. It was a rise compared to 0.63 units in September 2024 and 0.87 units in August 2024. In three-wheelers, the sale was 0.54 units in Sep 2024 and 0.49 lakhs in Sep 2023 following 0.52 lakhs in August 2024. Stay tuned for more information on our website.