Electric 2-wheeler sales jump as buyers see price hike ahead

The registration of electric two-wheelers soared 57% in May to reach one lakh units for the first time in a single month, as buyers flocked to e-bike showrooms in droves, anticipating a 15-20% price hike starting in June, and making reservations for vehicles at lower prices with a larger FAME-II subsidy.

- Alisha Sachdev

Penetration of electric two-wheelers in the segment crossed 7% in the month of May for the first time on account of this pre-buying—up 160 basis points from April, when penetration stood at 5.4%. Total e-scooter registrations in May exceeded 1.05 lakh units, with Ola Electric at just over 27% market share, TVS Motor Co. gaining a lead at the second spot with an increased market share of 19.3% and Ather Energy being the third-largest player at 14.6% market share.