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

In October 2024, the overall penetration of EVs in Indian 2W market was 6.8%. For passenger 3W L5 autos, it was 24.5%, and for cargo 3W L5 autos, it was 19.9%. 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 October 2024

Top 2W OEMs Oct 2024 | ICE and EV sales

In October 2024, Hero MotoCorp led two-wheeler sales with 576,518 units, but EVs comprised only 1.3% (7,310 units). Honda Motorcycle and Scooter India followed with 554,194 ICE units. Among legacy brands, TVS Motors and Bajaj Auto showed notable EV adoption, with EVs comprising 8.5% (29,912 units) and 12.3% (28,223 units) of their respective sales in Oct. Suzuki, Royal Enfield, and Yamaha remain ICE-only.

Ola Electric and Ather Energy, fully EV-focused companies, sold 41,606 and 15,991 units, respectively, while Classic Legends recorded 4,177 units, all ICE. This data highlights a gradual shift towards electrification, with newer players and select legacy brands leading the EV market among two-wheelers in India.

Overall EV penetration in the 2W segment in Oct 2024 was 6.8%, down from 7.5% in Sept 2024.

Top 3W L5 Pax OEMs Oct 2024 | ICE and EV Sales

Source: Vahan Dashboard. Data as per 1366 out of 1430 RTOs across 35 out of 36 state/UTs

All top 8 L5 Passenger OEMs show the presence of EVs in their offerings. Mahindra Last Mile Mobility leads with a remarkable 93.6% of its total sales (5,798 units) comprising EVs. TI Clean Mobility and Omega Seiki have fully committed to electric production, achieving 100% EV sales. Piaggio Vehicles EV sales were 28.5% of its numbers in the month, while Bajaj Auto Ltd shows a moderate presence, with 14% of its total sales (42,358 units) being electric. TVS Motor Company and Baxy report lower EV sales percentages at 3% and 16%, respectively. MLR Auto maintains a modest 8% in EV sales.

Overall EV penetration in the pax 3W auto (L5) segment in October 2024 was 24.5%, down from 25.2% in September 2024.

Top 3W L5 Cargo OEMs Oct 2024 | ICE and EV Sales

In October 2024, Bajaj Auto led the L5N segment with 5,618 total units, including a 10.4% share in EVs (586 units). Piaggio Vehicles followed with 2,781 units, of which 5.5% were EVs (154 units). Mahindra Last Mile Mobility reported 1,147 units, with EVs comprising a significant 63.6% (730 units). Euler Motors and Omega Seiki, fully electric brands, sold 389 and 361 units, respectively, achieving 100% EV sales. Capital Auto Industries, MLR Auto, and Baxy Ltd had modest sales, with MLR reporting a 3.2% EV share (5 out of 155 units).

Overall EV penetration in the 3W goods (L5) segment in Oct 2024 was 19.9%, down from 22.2% in Sept 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 September 2024