High-speed electric two-wheeler registrations in India rose 17% YoY in July to 54,232 units, but were still short of the monthly sales average for the financial year New Delhi: High-speed electric two-wheeler registrations rose 17% over a year ago in July, to 54,232 units, or up 19% from the previous month.
In June, e-two-wheeler sales took a hit following the government’s decision to significantly slash subsidies on electric vehicles (EVs) under FAME-II scheme. As a result, original equipment manufacturers (OEMs) were compelled to raise vehicle prices.
Despite the sales growth, registrations in July were short of the monthly sales average so far this financial year at 68,000 units. Moreover, it also trails the FY23 average monthly sales of 60,500 units. Electric vehicles accounted for 4.4% of two-wheeler sales at the end of July, compared to 3.5% in the month of June. “Recovery in electric two-wheeler sales, despite price increases after June, is impressive. With the expected lower-priced product launches in this segment, we expect sales to recover further," Jay Kale, senior vice president, Elara Capital, said.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
India in economic sweet spot, inflation to moderate: Moody's
India's economy is in a sweet spot and its inflation is expected to moderate despite a temporary spurt, Moody's said, projecting optimism about the country's growth prospects despite recent underwhelming data.
Incentive engine to drive modern ships
Subsidies for green, high-tech ships under ₹18,000 cr policy
Cement firms wage war on costs as competition soars
India's cement makers who once flexed their pricing muscles are caught in a bruising price war, eroding margins at a time of rising demand.
Saudi Arabia doesn’t have enough money for its futuristic city
The giant futuristic planned city of Neom is proving a headache for Saudi Arabia. Costs are up, schedules are delayed, and in recent days the world’s largest construction project replaced its chief executive of six years.
EV adoption is a marathon, not a sprint: Audi India
The slowdown in electric vehicle (EV) sales is temporary, and the industry will grow over time, Audi India head Balbir Singh Dhillon said, pointing to the need for extensive charging networks and supportive government policies.
India's trade gap with China soars in Apr-Oct
The country's green transition increases reliance on Chinese imports
14 nations eye India's generic drug model
Countries will specify their requirements, with HLL and MEA coordinating with them for the pharma exports
India urges $1.3 tn annual climate grant
Intervening on behalf of like-minded developing countries (LMDCs), India said that developed countries need to commit to provide and mobilise at least $1.3 trillion every year in the New Collective Quantified Goal (NCQG) till 2030.
Over 600 mn cyberattacks daily, AI can secure devices
Microsoft is developing a password-free authentication process to eliminate the risk of breaches
Small businesses ramping up cybersecurity, thanks to AI
Rising AI adoption is helping cybersecurity providers hike their marketable base in India
