By Priya Singh
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Updated On: 04-Oct-2024 12:36 PM
In this news, we will examine the sales performance of the E-rickshaw and E-cart segments in September 2024 based on the data from the Vahan Dashboard.
Key Highlights:
YC Electric, Saera Electric, Dilli Electric, MINI METRO, UNIQUE INTERNATIONAL and many other OEMs have announced their sales figures for September 2024.
In September 2024, India's electric vehicle market witnessed mixed performance across multiple categories. The E-rickshaw segment witnessed a slight decline, with sales dropping to 44,025 units in September 2024 compared to 44,337 units in August 2024. E-carts, used predominantly for intra-city logistics, sales increased to 12,278 units in September 2024, compared to 10,229 units in August 2024.
Electric three-wheelers (E3W) are an important segment of the electric vehicle (EV) market in India, as they offer affordable, convenient, and eco-friendly mobility solutions for both passengers and goods.
E-rickshaw refers to low-speed electric three-wheelers (up to 25 kmph) and it is mainly used for passenger transportation. On the other hand, E-cart refers to low-speed electric 3Ws (up to 25 kmph) used for goods transportation.
Both e-rickshaws and e-carts are becoming popular choices for transportation in crowded cities and towns because they are easy to drive, produce fewer pollutants, and are often cheaper to operate than traditional vehicles.
In this news, we will examine the sales performance of the E-rickshaw and E-cart segments in September 2024 based on the data from the Vahan Dashboard.
The E-rickshaws segment witnessed a decline in y-o-y sales. According to data from the Vahan portal, 44,025 units of E-rickshaws were sold in September 2024 compared to 46,691 units in September 2023.
E-Rickshaw Sales Trend by OEM
E-rickshaw sales in September 2024 show a mix of growth and decline across different manufacturers. Here are the key highlights:
YC Electric sold 3,510 units in September 2024, slightly higher than the 3,474 units sold in August 2024, showing a 1.04% month-on-month (MoM) growth. However, the sales dropped by 7.9% compared to September 2023.
Saera Electric sold 2,296 units in September 2024, a decline from 2,579 units in August 2024, marking an 11% drop. The year-on-year (YoY) sales also decreased by 23.2%.
Dilli Electric sold 1,659 units in September 2024, down from 1,794 units in August 2024, showing a 7.5% decrease. Compared to September 2023, sales dropped by 17.4%.
Unique International sold 1,138 units in September 2024, slightly up from 1,130 units in August 2024, reflecting a 0.7% MoM growth. However, YoY sales declined by 11.1%.
Mini Metro sold 1,103 units in September 2024, lower than the 1,253 units sold in August 2024, indicating a 12% MoM drop. Compared to September 2023, sales fell by 16.9%.
The e-rickshaw market is facing challenges, with most OEMs seeing a decline in both year-on-year and month-on-month sales.
The Electric 3-wheeler cargo segment witnessed a remarkable increase in sales. As per the Vahan portal data, 12,278 units of E-cart were sold in September 2024 compared to 3,038 units in September 2023.
E-Cart Sales Trend by OEM
Here’s a OEMwise breakdown of e-cart sales for September 2024:
YC Electric: Sold 309 units in September 2024, up from 172 units in September 2023, marking a 79.7% growth year-on-year.
Dilli Electric: Sold 306 units in September 2024, an increase from 219 units in September 2023, reflecting 39.7% growth year-on-year.
Saera Electric: Sold 212 units in September 2024, up from 121 units in September 2023, showing a 75.2% growth year-on-year.
J. S. Auto: Sold 181 units in September 2024, a drop from 247 units in September 2023, showing a decline of 26.7% year-on-year.
SKS Trade India: Sold 163 units in September 2024, up from 117 units in September 2023, marking 39.3% growth year-on-year.
Also Read: Electric Three-wheeler Sales Report August 2024: YC Electric Emerges as Top Choice
CMV360 Says
The mixed sales performance in September 2024 highlights the challenges and opportunities in India's electric three-wheeler market. While e-rickshaw sales remained stable, many key manufacturers are facing year-on-year declines. On the other hand, the growth in e-cart sales shows strong potential for the electric cargo segment.