[Omkar]

Source

Link to March 2024 EV sales thread

[bijims]

With FAME subsidies gone for E-2W and the new EMPS subsidy capped at just Rs.10,000, all major manufacturers barring Ola have increased their prices and that seems to show in the sales charts as well. Ola kept the prices as is and has enjoyed over 50% market share for this month. For context, Ola sells over 4 times the number of vehicles sold by its next closest competitor TVS.

In the E-4W segment, Tata continues to rule, and just like Ola has sold over 4 times the number of vehicles sold by its next competitor, MG.

[callvvijay]

Great to see 3W consistently clocking more than 50% of the total 3W sales for the past few months. From what I see on the roads, this figure is predominantly contributed by the 3W load carriers.

I always wonder why there are no / very meagre 3W EVs in the passenger carrier segment. Any idea?

[Elegant]

I am just confused. Ather in comparison to OLA makes more mature products with lesser niggles. Then, why is it wayy lagging in sales? Can anybody please shed light on this? OLA vehicles owned by people I know constantly have issues as opposed to Ather vehicles owned by people.

[YD14]

Originally Posted by Elegant

I am just confused. Ather in comparison to OLA makes more mature products with lesser niggles. Then, why is it wayy lagging in sales? Can anybody please shed light on this? OLA vehicles owned by people I know constantly have issues as opposed to Ather vehicles owned by people.

• Limited network of sales and service
• Not enough marketing
• Sporty design not family friendly

[mugen_pinaki27]

Originally Posted by callvvijay

I always wonder why there are no / very meagre 3W EVs in the passenger carrier segment. Any idea?

Right off the bat, the following reasons come to my mind:

1. Since 3W EVs are typically plying with a lot of goods for various vendors, inventory management and time management become critical factors. Logistics vendors need to factor in charging times when delivering goods to their customers. Have seen quite a few 3 W EVs waiting to charge their vehicles. This might lead to considerable loss of potential revenue when compared to ICE vehicles.

2. The same rule applies to passenger 3W EVs. When transporting customers from A to B, they need to factor in charging time. Given that CNG autos in Delhi (where I live) take significantly less time, their electric cousins are still to gain wider acceptance. Nevertheless, given a 52% market share and more charging spots coming up, we'll see more 3W contraptions on the road.

[nimbus1]

I have this feeling that in the era of EV, manufacturers like TATA, MG and other sundry Chinese car makers will become the new Maruti and Hyundai of tomorrow. if EV two wheeler sales are any indication of how new and unknown brands are getting quick traction then I don't see any reason why this cannot be replicated for four wheelers. OfCourse its a speculation only.

[anjan_c2007]

The sales seem to have hit a speedbreaker. The worst figures with southward movements, are for the two, three wheeler and bus segments. The bus segment has no any takers with 2.96% of the market pie of EV's. Most of these could be from the central grants to state transport undertakings to electrify. For the car/SUV segment with just a 21.13% drop (sales 7,408 units) and a market penetration of just 1.88% of the pie, things hardly matters.

For four wheelers Tata, MG and Mahindra appear to be on the right track to be labelled "survivors" for the long term race. Kia , Citreon and Hyundai sales are dismal. BYD is testing the waters and only time will tell how it performs.

For Mercedes Benz, BMW, Porsche, Volvo, JLR (0) and Rolls Royce (0) they are mostly importing their EV's and so volumes do not matter much.

[callvvijay]

Originally Posted by Elegant

I am just confused. Ather in comparison to OLA makes more mature products with lesser niggles. Then, why is it wayy lagging in sales? Can anybody please shed light on this? OLA vehicles owned by people I know constantly have issues as opposed to Ather vehicles owned by people.

While what you say is undoubtedly true, one of the primary reasons is also the price. Ola can be owned by around 1L whereas Ather costs 50% more.

[ferrarirules]

First of all, Mar-24 was a outlier month from a EVs standpoint. I don't know why, may be due to end of financial year. I will try and add a more rounded perspective to the numbers.

Almost in all categories, the registrations were much higher than long term average. Usually when you have a spike, the next month sees a slow down due to excessive demand catered in the previous month.

Example to support this - Govt reduced FAME subsidy for 2W effective June 2023 - link. So May-23 saw an exponential spike in EV 2W sales and then Jun-23 was subdued month but the demand started picking up post Jun-23



Source - EVReporter

Originally Posted by anjan_c2007

The sales seem to have hit a speedbreaker. The worst figures with southward movements, are for the two, three wheeler and bus segments.

Reason for so called "southward movement" explained above. Nobody talked about "Northward movement" in the month of March. Link (March 2024 | Electric Vehicle Sales Figures & Analysis)

The bus segment has no any takers with 2.96% of the market pie of EV's. Most of these could be from the central grants to state transport undertakings to electrify.

A few links to show the recent traction of EV buses in private sector -

1. Transvolt running buses for Uber Shuttle - Link1 Link2 (Transportation is transforming in NCR | Saw EKA Mobility's EKA 9 bus at Cyber City, Gurugram)
2. Macquarie Asset Management launched Vertelo - platform to provide end to end fleet electrification in India.

As a first step on this journey, Vertelo has signed a long-term lease agreement with Chalo Mobility Pvt Ltd, a leading Indian transport technology company, to supply 44 electric buses manufactured by JBM, a leading electric bus manufacturer in India, to operate in Mumbai. Also, to meet the growing demand of customers, Vertelo has signed agreements with multiple OEMs including JBM and Eka Mobility to buy up to 2,000 electric buses from each partner over the next three to five years and with Tata Motors to buy up to 2,000 electric cars over the next three years.

3. Greencell mobility - NueGO is now running 900 buses across India and they recently signed an agreement with EKA mobility to buy 1000 intercity buses - link

For the car/SUV segment with just a 21.13% drop (sales 7,408 units) and a market penetration of just 1.88% of the pie, things hardly matters.

We cannot look at penetration as 1.88% of the pie as there are only two manufacturers (Tata and MG) which have more than 1 EV product in the market. Maruti and Hyundai combined makes 55% of the Indian car market. Till the time they don't come up with mass market EVs, the EV penetration numbers don't make any sense at broader level don't make sense.

For four wheelers Tata, MG and Mahindra appear to be on the right track to be labelled "survivors" for the long term race. Kia , Citreon and Hyundai sales are dismal. BYD is testing the waters and only time will tell how it performs.

Tata, MG, BYD are the only one leading the charge when it comes to electrification of passenger vehicles in India.Details below:

Tata registration data for Apr-24 (ICE+ EV) was 44807. Out of this 4943 were EVs. So around 11% sales are coming from EVs.
MG registration data for Apr-24 (ICE+ EV) was 4091. Out of this 1204 were EVs. So around 29% sales are coming from EVs
Citroen registration data for Apr-24 (ICE+ EV) was 516. Out of this 128 were EVs. So around 25% sales are coming from EVs. Citroen has not penetrated market in India be it ICE or EV vehicles.
Mahindra is a biggest disappointment from an EV standpoint, they had an head start due to their acquisition of Reva but they never capitalized on the same. 623 cars sold for around 40k plus ICE+EV registered. That is a EV sales share of meagre 1.5%.
Kia / Hyundai are selling EVs for a namesake - EV6 is a very expensive CBU, Ioniq 5 is CKD product but still Rs.46 lakhs ex showroom it is a niche product. Hyundai Kona has not been refreshed for last 4 years since its launch. Hence it is not selling in large numbers.
BYD is not testing water, it is hampered by GoI policy of not allowing investment from China into India. They have made multiple proposals for the same.

[famman33]

Originally Posted by Elegant

I am just confused. Ather in comparison to OLA makes more mature products with lesser niggles. Then, why is it wayy lagging in sales? Can anybody please shed light on this? OLA vehicles owned by people I know constantly have issues as opposed to Ather vehicles owned by people.

Ather has been lagging behind owing to several reasons - they have the belief that with the IIT-M technology their product is superior and can command a premium irrespective of digital sales strategy of Ola (only now have they commenced offline sales and service when they have become no. 1).

Let us take the case of where Ather was yesterday and where it is today - it cuts a sorry figure when you look at https://smev.in/fy-23-24.

It is apparent that from being the market leader in FY22 with a share of 8% as opposed to 6% for Ola, 4% for TVS and 3% for Bajaj; they have allowed Ola to walk away with the cake in FY23 itself by conceding the lion's share of 21% to Ola, seen TVS sell 82109 vehicles for 11% share while they sold 76939 vehicles for similar 11% share and Bajaj improved to 5% with sales of 32805 vehicles.

Ultimately FY24 saw them lose the plot completely with Bajaj snapping at their heels selling 106990 vehicles for 11% share compared to their 108872 vehicles for 11% share. But now TVS was firmly at no.2 spot with 1182959 vehicles for 19% share and Ola as king with 326443 vehicles for 35% share.

Leave alone electric two-wheelers Ather cuts a sorry figure selling barely 4062 vehicles in April 2024 as opposed to Tata selling 4966 electric cars - leaving Ather behind in the dust!

[Venkatesh]

FADA EV Retail Data For April 2024