Okinawa Beats Ola To Become India’s #1 Electric Scooter Brand: Check Top 5 Companies (May, 2022)
The sales and demand for electric two wheelers were soaring for a few months before they started declining in May 2022.
The decline in sales has been attributed to the shortage of semiconductor chips and a few other reasons.
Electric Bike Sales Decline In May 2022
The government is also pushing citizens to opt for electrically powered bikes and cars by offering several State and Central Government subsidies.
While sales of electric bikes debuted with a big bang, they gradually declined by May 2022. The decline is because of two major reasons – shortage of semiconductor chips and the bikes catching on fire.
There have been several major accidents where electric bikes have caught on fire, which caught the eye of the government and it put electric two-wheeler companies including Okinawa, Ola, Pure EV, and Boom Motors under scrutiny. Okinawa, Ola, Hero Electric De-Growth After Sales In May 2022, the leaders in the e-scooter segment, Ola, Hero Electric, and Okinawa, reported a significant drop in sales.
Ola Takes Second Place, Ather Records Best Sales
After taking the top spot in April 2022, Ola has slipped to second place. Even though sales fell 31.66 percent MoM to 8,681 units in May 2022, down from 12,702 units sold in April 2022, Ola Electric continues to lead the segment. There was a 4,021-unit decrease in volume.
In the last month, Okinawa sales fell by 19.28 percent to 8,888 units, a decrease of 2,123 units from the 11,011 units sold in April 2022. In May 2022, Hero Electric reported a maximum MoM de-growth of 58.36 percent, down from 6,578 units sold in April 2022.
Due to a parts shortage, Hero Electric appears to have been the hardest hit. They were India’s No. 1 electric scooter brand just two months ago. Hero Electric aspires to return to No. 1 as quickly as possible. In May 2022, Ampere reported a MoM fall of 15.46 percent to 5,529 units sold, down from 6,540 units sold in April 2022, resulting in a volume de-growth of 1,011 units.
Ather Energy, on the other hand, had its best month ever in terms of sales. Sales of the company’s e-scooters increased by 26.45% in the last month, to 3,098 units, up from 2,450 units in April 2022. The Ather 450X and 450 Plus are available for purchase from the firm. In May 2022, TVS Motor sold 2,637 units of the i-Qube, while Bajaj Auto saw solid sales of the Chetak e-scooter in the previous month, spreading sales to more cities across the country.