Electric Buses Sales Report April 2024: Tata Motors Emerges as Top Choice for E-Buses

Key Highlights:
•    Tata Motors leads April 2024 electric bus sales.
•    E-bus sales decline: only 211 units were sold in April 2024.
•    Olectra Greentech shows notable growth.
•    PMI Electro Mobility sales drop significantly in April.

Tata Motors, JBM Auto, Olectra Greentech, VECV, PMI Electro Mobility and many more have announced their sales figures for April 2024 and a strong decline in sales can be seen by almost every electric bus manufacturer.

A significant increase was seen in the sales of electric buses in April 2024 compared to April 2023. According to data from the Vahan portal, 211 units of Electric buses were sold in April 2024 compared to 88 units sold in April 2023.

Tata Motors emerged as the top performer in electric bus sales in April 2024, followed by Olectra Greentech and JBM Auto. This growth highlights the increasing popularity and acceptance of electric buses in India as a sustainable and efficient mode of transportation.

Electric Buses: OEM-wise Sales Analysis

Let’s explore the sales figures and market dynamics of the top players:

In the latest Electric Bus sales report for April 2024, Tata Motors emerged as the leader. The company sold 89 units in April 2024 compared to 225 units sold in March 2024. The company holds a market share of 42.2% and experienced a 60.4% decline in month-over-month sales.

In April 2024, Olectra Greentech witnessed a growth in sales. The company sold 66 units in April 2024 compared to selling only 1 unit in March 2024. This marks a growth of 65 units and the company holds a market share of 31.3%.

JBM Auto sold only 25 units in April 2024 compared to 73 units sold in March 2024, reflecting a decline of 65.8%. The company holds a significant market share of 11.8%.

In April 2024, VE COMMERCIAL sold only 19 units compared to 29 units sold in March 2024, reflecting a decline of 34.5 % and the company holds a market share of 9%.

PINNACLE MOBILITY maintained moderate sales. The company sold 10 units in April 2024 compared to 9 units sold in March 2024, reflecting a MOM growth of 11.1%. The company holds a significant market share of 4.7%.

Switch Mobility, on the other hand, experienced a decline in sales. They sold 2 units in March 2024 compared to 18 units sold in March 2024. This represents a decline of 88.9% in month-over-month sales. The company acquired a market share of 0.9%.

In the month of April, MYTRAH MOBILITY, PMI Electro Mobility, and VEERA VAHAN UDYOG did not sell any units. These companies experienced a 100% decline in month-over-month sales.

Overall, the electric bus market witnessed a decline of 49% month-over-month sales in April 2024, with 211 units sold in April 2024 compared to 414 units sold in March 2024.

Also Read: March 2024 Electric Bus Sales Report: Tata Motors Emerges as Top Choice for E-Buses

Electric Vehicle Sales in India

In April 2024, electric vehicle (EV) sales in India dropped compared to March. Electric bus (E Bus) sales fell from 414 to 211 units, while other EV categories collectively decreased from 1,757 to 320 units. 

Despite this, from April 2023 to April 2024, India saw a steady increase in EV sales, reaching 1,683,600 units. March 2024 marked a peak with 212,502 units sold, but April saw a slight dip to 114,910 units, ending the twelve-month period slightly lower.

CMV360 Says

The latest data from the Vahan Dashboard reveals a mixed scenario for electric bus sales in April 2024. Despite a significant year-on-year increase, April 2024 saw a notable decline for most manufacturers.

Several companies reported no sales for April, highlighting ongoing market challenges. This fluctuating market dynamics highlights the importance of ongoing innovation and adaptation in the electric bus sector.