EV (2W) Sales: 27th July Update

Some very interesting battles going on in the 2W EV Sales with every passing week. Until the 19th of July, Bajaj Auto was sitting on a comfortable lead over TVS Motor in the fight for No.1 spot, whereas Ather Energy & OLA Electric were almost on-par fighting for No.3 position. Now we have data till 27th July & let's see how things have changed over the last 8 days. Following table shows the Daily Sales figures from VAHAN for the 12 manufacturers I am tracking:

As you can see, TVS Motor has reclaimed the No.1 spot & is now sitting on a comfortable margin over Bajaj Auto. In fact, Bajaj's sales have slowed down to such an extent that even OLA Electric has outsold it over the last 8 days. Even Ather Energy's momentum has slowed down a bit, allowing OLA to build a decent lead over it.

Overall these 12 players have sold a total of just under 79,000 units in 27 days of July so far, compared to little over 101,000 units sold in 30 days of June. We will certainly end July with atleast 10% drop in sales M-o-M. Either this is a seasonally weak month or it could also be due to slower dispatches from manufacturers due to issues of Rare-earth magnet supplies.

Following table shows the Market Share progress over the current month with each passing day:

Since the previous update (19th July), we can see that TVS Motor, OLA Electric & Hero MotoCorp have gained market shares, whereas Bajaj Auto has been a big loser during this period. Ather too has seen some drop. An unlisted smaller player, PURE EV, has also made noticeable gains in Market share over the last 8 days.

Please Note: Anyone interested in keeping a track of the above Statistics on a Daily basis, may check out the following link where I have shared the 2 tables & the data is updated everyday from VAHAN reports.

https://www.ankmitra.com/vahan-2w-ev-daily-sales-data