Automobile Desk: The picture of the country's electric two-wheeler market is now changing rapidly. By defeating the pure-electric companies that once became a leader by creating a new market, now the age-old traditional auto companies seem to be taking over the market. The figures of the first 28 days of the month of September are testifying to the same. TVS Motor, Bajaj Auto and Hero MotoCorp's Vida brand together have accounted for 61.8 percent of the total electric two-wheeler registrations in the country during this period. This trend clearly shows that Indian consumers are now turning to trusted and established brands rather than experimenting.
According to the data recorded by the government Vahan portal till September 28, TVS Motor is firmly at the number-1 position with 26.4 percent market share. Right behind it, Bajaj Auto remains in second place with 23.6 percent share, while Hero's Vida managed to get 11.7 percent share. It is noteworthy that the common share of these three companies was recorded at 59.5 percent in August and 60.6 percent in July. However, slight changes are possible in the final figures when the figures for the last two days of the month are added, but broadly the trend has been decided.
If we look at the sales figures, within these 28 days of September, TVS registered a total of 49,677 electric scooters. Bajaj was also not far behind with 44,480 units. Whereas Ather Energy registered 27,690 units, Hero Vida registered 22,109 units and Ola Electric, which was once on top, registered only 11,984 units. Apart from these, the total contribution of other companies like Ampere, River and Ultraviolette was more than 32,000 units.
The pace of Bajaj and Vida continues to be strong in the market. Bajaj Auto's share improved from 22.3 percent in July and 22.4 percent in August to 23.6 percent in September. TVS's share may have declined to 26.4 percent in September from 26.7 percent in August, but its hold on the top is completely strong. Vida also made continuous improvement and achieved a share of 11.7 percent. In fact, the combined market share of these three has been hovering around 60 percent throughout the year, which has now increased and is close to its highest level.
On the contrary, the graph of Ola Electric, which once ruled the Indian EV market, is continuously declining. In the first 28 days of September, the company's market share declined to just 6.4 percent, which was 7.6 percent in August and 6.9 percent in July. Ather Energy, on the other hand, recently launched its new mass-market model at a starting price of Rs 99,000, with deliveries starting from September 21. It is expected that the effect of this bet of Ather will be seen in the sales figures of October.
This success of traditional auto giants in this new era of competition is not without reason. Leading companies like TVS, Bajaj and Hero have a strong dealership network across the country, excellent manufacturing capacity and reliable after-sales service. This is the reason why when new startups are struggling on the service and quality front, customers are hesitantly joining the hands of these old brands. Overall, the entire electric two-wheeler segment appeared to be in a strong position in September, where 1.88 lakh vehicles were registered in just 28 days, which is more than the total of 1.83 lakh in August.