Electric 3W L5 Sales Report November 2024: MLMM and Bajaj Auto Emerges as Top Choice.

Key Highlights:

• Passenger E3W sales rose to 15,355 units in November 2024, up from 14,782 units in October.
• Goods E3W sales dropped to 2,251 units in November 2024, from 2,534 units in October.
• Mahindra sold 5,799 passenger E3Ws, with 85% year-on-year growth.
• Bajaj led goods E3W sales with 682 units, up 16.2% month-on-month.
• Omega Seiki saw 237.2% growth in passenger sales, while Piaggio grew 23.4% in E3W L5 goods segment sales.

In November 2024, India’s electric three-wheeler (EV) sales showed mixed performance. The sales of passenger three-wheelers (E3W L5 passenger vehicles) increased from 14,782 units in October 2024 to 15,355 units in November 2024. 

In November 2024, the sales of cargo electric three-wheelers (E3W L5 goods-carrying vehicles) dropped from 2,534 units in October 2024 to 2,251 units.

Electric three-wheelers (E3W) are an important segment of the electric vehicle (EV) market in India. These vehicles offer affordable, convenient, and eco-friendly mobility solutions for both passengers and goods. 

In this news, we will examine the sales performance of E3W L5 in the goods and passenger segments for November 2024 based on the data from the Vahan Dashboard.

E-3W Passenger L5 Sales Trend

According to data from the Vahan Dashboard, the E-3W L5 Passenger category sold 15,355 units in November 2024 compared to 7,131 in November 2023. The E-3W Passenger L5 segment witnessed a YoY growth in sales. 

Electric Three-wheeler Passenger L5 Sales Trend by OEM

The electric three-wheeler passenger L5 segment has shown varying sales trends in November 2024. Here's a sales breakdown of the top 5 OEMs:

Mahindra Last Mile Mobility sold 5,799 units in November 2024, maintaining steady sales compared to October 2024, which also recorded 5,797 units. The brand achieved an impressive 85% year-on-year growth.

Bajaj Auto recorded 5,446 units in November 2024, a decline from 5,725 units in October 2024. However, this figure marked a significant increase from 1,158 units in November 2023. The month-on-month sales dropped by 4.9%.

Piaggio Vehicles sold 2,273 units in November 2024, up from 1,788 units in October 2024, reflecting a 27.1% month-on-month growth. Compared to 1,967 units sold in November 2023, the company recorded a 16% year-on-year growth.

TI Clean Mobility sold 704 units in November 2024, an increase from 635 units in October 2024, showing a 10.9% month-on-month growth. Compared to 278 units in November 2023, the year-on-year growth stood at 153%.

Omega Seiki Mobility registered sales of 317 units in November 2024, a notable rise from 94 units in October 2024, reflecting a 237.2% month-on-month growth. In November 2023, the company had sold only 46 units.

E-3W Goods L5 Sales

According to data from the Vahan portal, the total number of E-3W sold in the L5 Goods category was 2,251 units in November 2024 compared to 1,919 in November 2023. The E-3W Cargo L5 segment witnessed a growth in sales.

E-3W Cargo L5 Sales Trend by OEM

The electric three-wheeler goods L5 segment showed mixed performance in November 2024. Here's a sales breakdown of the top 5 OEMs:

Bajaj Auto sold 682 units in November 2024, an increase from 587 units in October 2024, achieving a 16.2% month-on-month growth. 

Mahindra Last Mile Mobility recorded sales of 521 units in November 2024, a drop from 730 units in October 2024. This reflects a 28.6% month-on-month decline and a 16.9% year-on-year decrease compared to 627 units in November 2023.

Euler Motors sold 248 units in November 2024, declining from 389 units in October 2024, showing a 36.2% month-on-month drop. Year-on-year sales also declined by 2.7% compared to 255 units in November 2023.

Piaggio Vehicles recorded 190 units in November 2024, up from 154 units in October 2024, reflecting a 23.4% month-on-month growth. However, the sales dropped by 34.9% year-on-year, as the company had sold 292 units in November 2023.

Omega Seiki Mobility registered sales of 162 units in November 2024, significantly down from 361 units in October 2024, with a 55.1% month-on-month decline. Year-on-year sales also fell by 20.2%, compared to 203 units in November 2023.

Also Read: Electric Three-wheeler L5 Sales Report October 2024: MLMM Emerges as Top Choice.

CMV360 Says

Electric three-wheeler sales in November 2024 show strong growth for passenger vehicles, proving their popularity for affordable and easy mobility. However, the drop in goods vehicle sales suggests that more effort is needed to meet market needs. With mixed performances from brands, there’s room for improvement and innovation to keep the momentum going.