Electric 3Ws make 47% of all three-wheelers sold in India in FY 2021-22

3 Wheeler sales across categories – FY 2021-22

– During FY 21-22 – 3,84,215 units of 3 Wheelers were sold in India, including Cargo and Passenger categories.

– Electric powertrain dominates the market with 47% market share and 1,79,725 units sold during FY21-22. In FY 20-21, electric powertrain had a 39% market share.

– CNG powertrain comes next with a 28% market share in FY21-22 (up from 15% market share in FY20-21) and compounded monthly growth rate of 11.54% over the period. Diesel powertrain obtained a market share of 21% (down from 40% market share in FY20-21), and the demand for diesel 3Ws witnessed a decrease because of strict emission norms and high fuel prices.

– Within electric powertrain (47%), the Low-speed L3 category e-3W made up 44% of total sales with a compounded monthly growth rate of 10.26%. High-speed L5 category e-3W account 3% share, but the category recorded the highest monthly growth rate of 18.33% during FY 21-22.

Break up of electric 3W sales – FY 2021-22

– There are two variants in the electric 3-wheeler segment in India, Low-speed e-cart/e-rickshaw or L3N/L3M category vehicle and the High-speed L5N/L5M category vehicle. These variants differ in dimensions, carrying capacity, motor specifications and range.

– Electric 3-Wheeler sales in India are dominated by Low speed L3M category passenger vehicles with 1,54,041 units sold during FY 21-22, i.e. 86% of all e3W sold during this period, followed by L3N category cargo vehicles with 8% share of the pie.

– L5 category 3Wheeler sales are low with 4% and 2% share for the cargo and passenger segment, respectively. Still, the powertrain is gaining momentum since it is a good alternative to its gas-guzzling rivals. The growth in this segment is aided by e-commerce giants and other 3PL players, which have committed to sustainable last-mile logistics.

Top-selling electric 3W OEMs during FY 2021-22

– Electric 3 Wheeler sales in India account for 41% of all EVs sold during FY 21-22 (excluding low- speed electric 2Ws).

– For FY 21-22, the L3 category 3 Wheeler sales increased by 94% compared to FY 20-21. L5 category recorded 5 fold jump in sales in FY 21-22 over last FY.

– The electric 3 Wheeler market in India is highly fragmented and has approximately 300 OEMs for the L3 category and 67 OEMs for the L5 category, as seen on the Vahan portal.

– The top 10 OEM manufacturers in the L3 category contribute only 43% of the total sales, whereas the top 6 OEMs in the L5 category contribute 78% market share.

Disclaimer: Data used for analysis is a cumulative sum of statistics from the Vahan portal (1429 out of 1613 RTOs across 33 out of 37 state/UTs) and Telangana Transport portal. Petrol, LPG and Petrol/LPG powertrain for 3Wheelers are not included in the analysis.

This analysis was first published in EVreporter May 2022 Magazine that can be accessed here.