By Priya Singh
3104 Views
Updated On: 07-Feb-2024 06:27 AM
Tata Motors, JBM Auto, Olectra Greentech, PMI Electro Mobility and many more have announced their sales figures for January 2024 and strong YoY growth can be seen by almost every automaker.
In this news, we will analyze the brand-wise sales trend of Electric buses in India based on the data from the Vahan Dashboard.
The Electric Buses segment witnessed a remarkable increase in sales. According to data from the Vahan portal, 506 units of Electric buses were sold in January 2024 compared to 138 units sold in January 2023. This growth highlights the increasing popularity and acceptance of electric buses as a sustainable and efficient mode of transportation.
Let’s explore the sales figures and market dynamics of the top players:
JBM Auto emerged as the market leader in the electric bus market by achieving an impressive 38.54% market share in January 2024. JBM Auto led the market with sales of 195 units in January 2024 compared to 137 units sold in December 2023. This shows a month-over-month growth of 42%, solidifying JBM Auto's stronghold in the electric bus market.
Tata Motors secures the second position, with a significant market share of 25.69%. The company sold 130 units in January 2024, compared to 353 units in December 2023. The month-over-month sales witnessed a decline of 63%.
Olectra Greentech secured the third position and made a significant contribution, claiming a 15.61% market share. The company sold 79 units in January 2024, compared to 69 units in December 2023. This represents a month-over-month growth rate of 14%.
Also Read: December 2023: Electric Bus Sales Hit Record High, Tata Motors Dominates Market
The competitive bus market also includes PMI Electro Mobility has a 13.24% market share, Pinnacle Mobility has a 3.56% market share, Switch Mobility has a 1.98% market share, and Mytrah Mobility has a 1.38% market share. These players collectively contribute to the booming electric bus market, showcasing the diversity and innovation within the sector.
This increase in E-Bus sales is mainly due to two reasons:
The first one is Government initiatives. The central government's committed efforts to decarbonize public transportation, in particular, are having a significant impact. Tenders issued under programs such as the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles (FAME) scheme and the National Electric Bus Programme (NEBP) are used to deploy e-buses.
The second important aspect is that e-buses have a lower total cost of ownership (TCO) than internal combustion engine (ICE) and compressed natural gas (CNG) buses. Lower operational costs and a reduced initial purchase fee drive this cost efficiency.
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