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ELECTRIC 2W SALES SOAR, CROSSING 70,000 DUE TO FESTIVE DEMAND
The Business Guardian
|November 02, 2023
October's electric 2W sales surpass 70,000 due to the festive season's demand. However, the company's exports decreased by 7% over the previous year
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Sales of electric two-wheelers (EV 2W) increased by 17% on a S Month-on-Month (MoM) basis in October, reaching over 70,248 units. Ola Electric led the market with recorded sales of 22,565 units, primarily due to demand spurred by the holiday season. While the sales went up on a monthly basis, it degrew by 4% on a year-onyear basis on account of a high base of the early festive season in 2022, said Elara Capital in its analysis report on November 1st.
The 70,000 mark is a significant milestone that indicates that the EV market is witnessing sales that are slowly getting back to the pre-subsidy cut period.
EV sales touched the lowest number at 45,000 units in June as the government announced a reduction of the FAME subsidy from 40% to 15% on June 1.
Dit verhaal komt uit de November 02, 2023-editie van The Business Guardian.
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