Electric Two-wheeler Sales: December 2023
December 2023 was a month of contrasts in the Indian electric two-wheeler market. While some players celebrated continued growth, others faced unexpected dips. Let’s look closer at the top 10 electric scooter and bike sales data for the month. Here is The Electric Two-wheeler Sales Data for December 2023.
Top 10 Electric Scooter Sales Data
| Sr. N. | Company Name | Sales in Nov. 2023 | Sales in Dec. 2023 | MoM Growth |
| 1. | Ola Electric | 29,908 | 30,219 | 1.03% |
| 2. | TVS Iqube | 19,076 | 12,216 | -35.96% |
| 3. | Bajaj Chetak | 11,810 | 10,323 | -12.59% |
| 4. | Ather Energy | 9,256 | 6,481 | -29.98% |
| 5. | Greaves Electric(Ampere) | 4,412 | 2,974 | -32.59% |
| 6. | Hero Vida | 3,043 | 1,592 | -47.68% |
| 7 | Joy E-Bikes | 1,188 | 1,407 | 18.43% |
| 8. | BGauss Auto | 1,606 | 1,214 | -24.40% |
| 9. | Okinawa Autotech | 1,258 | 965 | -23.29% |
| 10. | Lectrix EV | 1,297 | 769 | -40.70% |
-Ola Electric retained its top spot, narrowly escaping a decline with a mere 1.03% month-over-month (MoM) growth. Their sales reached 30,219 units in December, cementing their leadership position.
-TVS Iqube, however, suffered a significant drop of 35.96%, slipping from second to third place with 12,216 units sold.
-Bajaj Chetak also faced a decline, albeit smaller at 12.59%, ending the month with 10,323 units.
-Ather Energy saw a steeper decline of 29.98%, selling 6,481 units in December compared to 9,256 units in November.
Image of Ather Energy 450X electric scooterOpens in a new window
-Greaves Electric (Ampere) rounded up the top 5 with a 32.59% decline, selling 2,974 units.
Top 5 Electric Bike Sales Data
| Company Name | Sales in Nov. 2023 | Sales in Dec. 2023 | MoM Growth |
| Revolt Motors | 669 | 678 | 1.34% |
| Tork Motors | 395 | 205 | -48.10% |
| Hop Electric | 11 | 20 | 81.81% |
| Ultraviolette | 10 | 10 | -Neel- |
| Kabira Moblity | 4 | 6 | 50% |
-Revolt Motors emerged as the top performer in the electric bike segment, achieving a modest 1.34% MoM growth with 678 units sold.
-Tork Motors faced a steep decline of 48.10%, selling only 205 units in December compared to 395 units in November.
-Hop Electric saw marvelous growth of 81.81% and Ultraviolette Managed the Same Sales Figure as November.
-Kabira Mobility managed to sell 50 units in December, marking a positive entry into the top 5.
Key Takeaways:
- While the overall electric two-wheeler market continues to grow, December 2023 saw some unexpected dips from established players like TVS Iqube, Bajaj Chetak, and Ather Energy.
- Ola Electric’s continued dominance is noteworthy, as they managed to avoid the decline despite several festive season offers being wrapped up.
- The electric bike segment remains nascent, with Revolt Motors leading the way but facing stiff competition from Tork Motors and the emerging Hop Electric and Ultraviolette.
Looking Ahead:
The Indian electric two-wheeler market is expected to continue its upward trajectory in 2024. With government incentives, improved charging infrastructure, and new model launches from established and emerging players, the coming year promises to be even more exciting for this dynamic sector.
Also Read:- Electric Two-wheeler Sales Data January to December 2023
