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India ICE vs EV sales | For top 2W and 3W OEMs in August 2024

In August 2024, EV penetration in India’s 2W sales declined to 6.6% from 7.4% in July 2024. In the e-3W L5 passenger category, EV penetration decreased to 21.3% from 22.6% in July 2024. In the e-3W L5 goods category, EV penetration declined to 20.7% in August 2024 from 25.7% in July 2024.

Also Read: Overall EV sales in August 2024

In August 2024, the two-wheeler market in India saw significant contributions from both traditional and electric vehicle (EV) makers. Hero MotoCorp led the market with total sales of 3,58,616 units, including 4,742 EVs, making up 1.3% of their sales. Honda Motorcycle followed closely but with no EVs sold. TVS Motor Company and Bajaj Auto stood out for their substantial EV sales, contributing 7.4% and 11.2% of their total sales, respectively. Purely electric players like Ola Electric Technologies, Ather Energy, and Ampere/Greaves Electric demonstrated a strong EV presence, with 100% of their sales being electric, reflecting the ongoing shift towards electrification in the two-wheeler segment.

In August 2024, overall EV penetration in the two-wheeler segment dropped to 6.6%, down from 7.41% in July 2024.

Source: Vahan Dashboard. Data as per 1365 out of 1429 RTOs across 35 out of 36 state/UTs

In the three-wheeler segment for August 2024, Bajaj Auto led the market with total sales of 33,892 units, of which 11% were electric vehicles (EVs). Piaggio Vehicles followed with 5,346 units, having a 26.7% share of EVs in their sales. Mahindra Last Mile Mobility stood out with a high EV share, where 93.2% of their 4,006 units sold were electric. TVS Motors had a smaller EV presence with 3% of their sales being electric. TI Clean Mobility and Omega Seiki were notable for their 100% EV sales, indicating a strong focus on electrification within their portfolios. MLR Auto and Baxy Ltd also contributed to the EV segment, with 9% and 19% of their sales being electric, respectively.

Overall EV penetration in pax 3W auto (L5) segment in Aug 2024 was 21.3%, down from 22.56% in July 2024.

In August 2024, the three-wheeler goods vehicle segment exhibited varied levels of electric vehicle (EV) adoption across manufacturers. Bajaj Auto led the market with 3,868 total units sold, of which 369 were EVs, making up 9.5% of their sales. Piaggio Vehicles followed with 2,032 units sold, with EVs constituting 6.5% of their sales. Mahindra Last Mile Mobility stood out with a substantial 59.8% of their sales being EVs. Omega Seiki and Euler Motors were entirely dedicated to EVs, with 100% of their sales being electric. In contrast, companies like MLR Auto and Baxy Ltd had only a small percentage of EV sales, reflecting different levels of commitment to electrification within the segment.

Overall EV penetration in the 3W goods (L5) segment in Aug 2024 was 20.7%, down from 25.7% in July 2024.

For deeper insights into India EV sales trends—city-wise, state-wise, segment-wise, RTO-wise and OEM-wise—check out the EVreporter Data Portal here.

Also read: India ICE vs EV sales | For top 2W and 3W OEMs in July 2024

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