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

In November 2024, the overall penetration of EVs in the 2W market was 4.6%. For passenger 3W L5 autos, it was 29.8%, and for cargo 3W L5 autos, it was 20.6%. 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 November 2024

Leading 2W OEMs, Nov 2024

Hero MotoCorp led with 9,15,339 units sold, including 7,309 EVs (0.8%), while Honda Motorcycle reported 6,54,360 ICE sales. TVS Motors and Bajaj Auto demonstrated notable EV penetration at 6.4% and 8.6%, respectively, driven by EV sales of 26,974 and 26,164 units. Pure EV players like Ola Electric, Ather Energy, and Ampere/Greaves Electric achieved 100% EV sales, led by Ola with 29,196 units. However, established ICE-focused brands such as Honda, Royal Enfield, Suzuki, and Yamaha reported no EV sales, indicating further growth potential in the EV segment.

Overall EV penetration in the 2W segment in November 2024 was 4.6%, down from 6.8% in October 2024.

Leading 3W L5 Pax OEMs, Nov 2024

In November 2024, Bajaj Auto led with 33,922 total sales, including 5,446 EVs, achieving 16.1% EV penetration. Piaggio Vehicles followed, with 2,273 EV sales constituting 36.3% of its total 6,255 units. Mahindra Last Mile Mobility stood out with 94.3% EV penetration, selling 5,799 EVs out of 6,151 units. TI Clean Mobility and Omega Seiki reported 100% EV sales, delivering 704 and 317 units, respectively. MLR Auto and Baxy Ltd recorded modest EV shares of 11.5% and 13.6%, while TVS Motors showed only 4.8% of its 2,102 total sales attributed to EVs.

Overall EV penetration in the passenger 3W auto (L5) segment in November 2024 was 29.8%, up from 24.5% in October 2024.

Leading 3W L5 Goods OEMs, Nov 2024

In November 2024, Bajaj Auto led the 3W cargo (L5) segment with total sales of 5,136 units, of which 682 (13.3%) were electric vehicles (EVs). Piaggio Vehicles followed with 2,587 units, including 190 EVs, achieving a 7.3% EV penetration. Mahindra Last Mile Mobility recorded a 52.7% EV share, with 521 EVs sold out of 989 total units. Euler Motors and Omega Seiki reported 100% EV penetration, with sales of 248 and 162 units, respectively. MLR Auto had a modest EV share of 3.2%, selling 5 EVs out of 156 units. Capital Auto Industries sold 93 internal combustion engine (ICE) vehicles and no EVs, while Baxy Ltd recorded total sales of 90 units, with just 2 EVs (2.2%).

Overall EV penetration in the 3W goods (L5) segment in November 2024 was 20.6%, slightly up from 19.9% in October 2024.

For deeper insights into India’s EV sales trends (including Telangana data) – Segment-wise, OEM-wise, city-wise, RTO-wise and state-wise – check out the EVreporter Data Portal here and subscribe.

Also read: India ICE vs EV sales for top 2W and 3W OEMs in October 2024