Registrations of electric two-wheelers have not seen a pick-up in the first month of 2024 despite substantial discounts being offered by startups Ola Electric and Ather Energy. The number stood at over 70,044 vehicles till January 30, which is lower than 73,294 registrations in December last year.
However, Bajaj Auto and TVS, the two incumbent players in the market, have refrained from joining the discounting game. Even so, they have collectively been able to exceed their registrations in January 2024 over December last year.
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Thursday 21 Nov. 2024
The lacklustre performance is evident from the fact that the total registrations for electric two-wheelers in the first 10 months of FY24, according to VAHAN data, was 0.68 million.
Although this was the number for the entire year of FY23, industry estimates at the start of FY24 had projected registrations of 1.2 million.
