Ola Electric Scooters OffersImage credit source: Ola Electric
In August, automobile companies reported a decline in sales across all divisions. Low sales of two-wheelers and commercial vehicles hurt automobile companies, though passenger vehicles like buses and tempos kept the market in check to some extent. Sales of passenger vehicles have remained stable in the last three months or there has been a nominal decline in their sales. In this series, electric two-wheeler companies also made very low profits last month.
There was a 17 per cent drop in sales of electric two-wheelers in August. According to data from the Automobile Dealers Federation, 88,472 two-wheelers were sold in August, while the figure was 1 lakh 7,000 thousand in July.
Ola EV sales are the slowest
Ola Electric saw the biggest decline compared to all electric two-wheeler companies. Ola Electric’s sales figures declined by 35 percent. Ola Electric sold 41,624 scooters in August, while in July the company recorded sales of 27,517 units.
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There was also a 10% drop in TVS Motors sales in the month of August. The company sold 19,486 scooters in July but in August its sales fell to 17,543. Bajaj Auto saw a marginal 5% drop in sales month-on-month. The company sold a total of 16,706 units.
Ather Energy booms in sales
While all major car companies experienced a drop in sales, the only car company, Ather Energy, celebrated its success in August. The company increased its sales by 7 percent, selling 10,830 units.
However, according to experts, the month of September will see a surge in sales for Bajaj Auto, TVS and Ather Energy.
