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

In July 2024, the overall penetration of EVs in the 2W market was 7.41%. For passenger 3W L5 autos, it was 22.56%, and for cargo 3W L5 autos, it was 25.7%. This article aims to showcase where EV sales stand compared to the overall vehicle sales in the 2W and 3W categories.

Also Read: Overall EV sales in July 2024

Source: Vahan Dashboard. Data as per 1568 out of 1645 RTOs across 35 out of 36 state/UTs

In July 2024, Bajaj Auto has sold 269 units of its CNG Bike Freedom 125.

The sales data for July 2024 in the Indian two-wheeler industry reveals key trends in both ICE and EV markets. Hero Motocorp leads with 3,99,324 total units, of which 1.3% are EVs. Honda Motorcycle, Suzuki Motorcycle, Royal-Enfield, India Yamaha Motor, and Piaggio Vehicles reported no EV sales. TVS Motors and Bajaj Auto show EV sales at 7.8% and 10.9%, respectively. Ola Electric Technologies and Ather Energy, both exclusively EV manufacturers, reported 100% of their sales as EVs. This data highlights a growing interest in EVs, particularly from dedicated EV manufacturers, and a gradual shift by some traditional manufacturers, though the majority of sales still come from ICE vehicles, indicating an ongoing transition phase in the industry.

Overall EV penetration in the 2W segment in July 2024 was 7.41%, up from 6% in June 2024.

Source: Vahan Dashboard. Data as per 1568 out of 1645 RTOs across 35 out of 36 state/UTs

Bajaj Auto leads with 34,731 units sold, of which 10% are EVs. Piaggio Vehicles follows with 6,118 units, with 28.5% being EVs. Mahindra Last Mile Mobility demonstrates a significant shift towards EVs, with 93.6% of its 5,246 units being electric. TVS Motors sold 1,947 units, with only 2% being EVs. TI Clean Mobility and Omega Seiki are notable for being exclusive EV manufacturers, with 100% of their 580 and 285 units, respectively, being electric. MLR Auto and Baxy Ltd have moderate EV sales, with 7% and 31% of their total sales being electric.

Overall EV penetration in pax 3W auto (L5) segment in July 2024 was 22.56%, up from 18.3% in May 2024.

Source: Vahan Dashboard. Data as per 1568 out of 1645 RTOs across 35 out of 36 state/UTs

Bajaj Auto leads with 3,997 units sold, 8.6% of which are EVs. Piaggio Vehicles follows with 2,321 units, 9.2% being EVs. Mahindra Last Mile Mobility has a significant 75.5% of its 1,377 units sold as EVs. Omega Seiki and Euler Motors are exclusively EV manufacturers, with 100% of their 248 and 228 units sold being electric, respectively. Capital Auto Industries and Baxy Ltd reported no EV sales. MLR Auto sold 127 units, with 5% being EVs.

Overall EV penetration in the 3W goods (L5) segment in June 2024 was 25.7%, up from 21.5% in June 2024.

For deeper insights into India EV sales trends—city-wise, state-wise, segment-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 June 2024

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