Huge Drop in EV Sales April 2024 EV Sales Report
According to the April 2024 EV sales report, there has been a significant drop in the purchase of electric scooters in India. Compared to March, the sales of electric scooters have decreased significantly in April. This raises the question of whether people are not interested in electric scooters. In this article, we will discuss the complete data of electric scooter sales in April along with the reasons behind the decline in sales. We will also highlight which electric two-wheeler company has sold the most electric scooters in April.
Electric Two-Wheeler Sales Data April 2024
The EV two-wheeler market witnessed a massive decline in sales of approximately 52% in April 2024. During this period, Indian EV two-wheeler companies sold a total of 64,013 units of electric scooters.
Reasons for the Drop in Sales
One possible reason for the drop in sales could be the start of the new financial year in April 2024. It is usually observed that there is a decrease in electric scooter sales during this month. Additionally, many electric scooter manufacturers offered heavy discounts on electric scooters in March due to it being the last month of the financial year. This resulted in the highest sales record in the EV two-wheeler segment till March 2024.
Another factor could be the end of the festive season, which usually sees a surge in demand for electric scooters. However, after the festive season ended, there was a decrease in demand. The government’s decision to end the subsidy on electric scooters in March 2024 could also be a contributing factor to the decline in sales.
Ola Electric Breaks Records Again
In April 2024, Ola Electric set another record by selling the most electric scooters. The company registered a total of 33,062 units of electric scooters in April 2024. The company also increased its market share in the EV two-wheeler market by 54% in the previous month.
March 2024 witnessed the highest sales record in electric two-wheelers in India, with a total registration of 136,000 units. This is almost 50% higher than the previous year. Overall, approximately 942,088 electric two-wheelers were sold in the last financial year, which is 30% higher than the previous year.
In conclusion, the drop in sales of electric scooters in India in April 2024 could be due to various factors, including the start of the new financial year, the end of the festive season, and the government’s decision to end subsidies on electric scooters. However, companies like Ola Electric continue to break sales records and increase their market share in the EV two-wheeler market.