Electric Buses Sales Report October 2024: Tata Motors Emerges as Top Choice for E-Buses

Key Highlights:

• Tata Motors led with 139 units, holding a 34.9% market share despite a 21.9% drop.
• PMI Electro Mobility sold 86 units, up 16.2% from September, with a 21.6% share.
• JBM Auto saw major growth, selling 82 units, up from just 3 in September.
• Olectra Greentech declined, selling 46 units, down by 56.2%.
• Overall, 398 electric buses were sold, a 3% increase from September.

Tata Motors, JBM Auto, Olectra Greentech, VECV, PMI Electro Mobility, and others have announced their sales figures for October 2024, revealing significant sales growth. 

According to data from the Vahan portal, 398 electric buses were sold in October 2024, compared to 388 electric buses sold in September 2024. This represents an increase in sales by 10 units.

Tata Motors emerged as the top performer in electric bus sales in October 2024, followed by PMI Electro Mobility and JBM Auto. Year-over-year sales have increased, with 398 electric buses sold in October 2024 compared to 229 e-buses in October 2023. This indicates a year-over-year increase in electric bus sales in India.

Electric Buses: OEM-wise Sales Analysis

Let’s explore the sales figures and market dynamics of the top players:
In October 2024, the electric bus sales in India showcased diverse performances among different OEMs (Original Equipment Manufacturers). 

Tata Motors led the market with 139 units sold in October 2024, though this marked a decrease of 39 units compared to the previous month, reflecting a -21.9% change. Tata Motors held a 34.9% market share.

PMI Electro Mobility followed with 86 units sold in October 2024, an increase of 12 units from September 2024, achieving a growth of 16.2% and holding 21.6% of the market. 

JBM Auto saw the most substantial growth, selling 82 units in October 2024 compared to only 3 units in September 2024, representing a significant increase and capturing 20.6% of the market.

Olectra Greentech experienced a decline, selling 46 units, down by 59 units from the previous month, with a -56.2% change. This drop resulted in an 11.6% market share. 

Pinnacle Mobility recorded the highest percentage growth at 175%, with 22 units sold in October compared to 8 units in September, giving it a 5.5% market share.

Switch Mobility maintained its sales with 20 units in both September and October, accounting for a steady 5% market share. AeroEagle Automobiles entered the market with 3 units sold, achieving a 0.8% market share.

Overall, the total electric bus sales in October 2024 amounted to 398 units, reflecting a 3% increase from September’s 388 units, adding 10 more buses to the total market.

Also Read: Electric Buses Sales Report September 2024: Tata Motors Emerges as Top Choice for E-Buses

CMV360 Says

The rise in electric bus sales in October 2024 highlights India's gradual shift towards cleaner public transport. Tata Motors continues to lead, but PMI Electro Mobility and JBM Auto are gaining traction, showing healthy competition in the market. While some brands faced setbacks, the overall increase is a positive sign, though it suggests that steady growth may still take time.