Electric 2W sales crash as subsidy cut kicks in
Financial Express Mumbai|June 07, 2023
Daily offtake down to 540 in June so far from 2,000-3,300 in January-May
SWARAJ BAGGONKAR
Electric 2W sales crash as subsidy cut kicks in

SALES OF ELECTRIC two-wheelers have crashed to just one-fourth of the average daily volumes from the levels seen before the reduction of incentives by the government from June 1.

From 2,000-3,300 units per day in January-May, sales volumes of electric two-wheelers are down to 540 units per day in the first six days of June, as per data sourced from the government-controlled Vahan portal which provides actual vehicle registrations.

Manufacturers including Bajaj Auto, TVS Motor Company, Ola Electric, Ather Energy and Greaves Electric Mobility have increased prices between ₹10,000-40,000 from June 1 following the reduction in the government subsidy to ₹10,000 per kWh from ₹15,000 per kWh. The Society of Manufacturers of Electric Vehicles (SMEV), the apex lobby body of the EV makers, said that some manufacturers are taking the price hike burden onto themselves to soften the blow of the sudden hike.

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