Electric 2-wheeler sales plunge as incentives fade
Hindustan Times|July 01, 2023
Electric two-wheeler sales registered their first annual decline since 2022 in June, as reduced incentives under the government's FAME-II scheme led to a significant rise in retail prices, dampening consumer demand.
Alisha Sachdev
Electric 2-wheeler sales plunge as incentives fade

NEW DELHI: Registrations of electric two-wheelers fell 4.1% to 42,121 units in June from 43,919 units in the year earlier, according to data from the government's Vahan dashboard. Sales plunged 60% in June from May, when sales rose to a record high of more than 100,000 registrations.

Ola Electric dominated electric two-wheeler sales in June, selling 16,322 units, giving it a 38.7% market share. TVS Motor Co. followed with 6,844 units and a 16.25% share, while Ather Energy sold 4,191 units and a 10% share. Bajaj Auto accounted for sales of 2,672 units, and Okinawa Autotech sold 2,475 units. However, all leading electric two-wheeler makers reported sharp sales declines in June from the preceding month.

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