Home / Business and Economy / Electric Scooters Surge 48% in October!
Electric Scooters Surge 48% in October!
1 Nov
Summary
- Electric two-wheeler sales in India reached 2.24 lakh units in October.
- This marks the highest monthly sales driven by festive demand and new models.
- Established automakers are increasing their electric two-wheeler market share.
October witnessed an unprecedented surge in India's electric two-wheeler market, with sales jumping 48% year-on-year to reach a record 2.24 lakh units. This significant growth is attributed to robust festive season demand and the successful launch of new electric models. The Vahan vehicle registration data indicates a thriving adoption rate for electric mobility.
Established automotive manufacturers are consolidating their positions within this burgeoning sector. Companies like TVS Motor saw their market share expand substantially to 27% in October, up from 20.6% the previous year. Hero MotoCorp also experienced growth, increasing its share to 13.4%, while Bajaj Auto maintained a strong presence with nearly 22% market share. These established players are capitalizing on their extensive distribution networks and manufacturing prowess to lead the electric transition.
