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

Key Highlights:

• Electric bus sales in India dropped from 437 units in July 2024 to 243 units in August 2024.
• Tata Motors led electric bus sales in August 2024, selling 115 units, despite a 59.8% decrease from July.
• Olectra Greentech increased its sales by 36.9%, selling 89 units in August 2024.
• PMI Electro Mobility saw a 1100% surge in sales, selling 24 units in August 2024.
• JBM Auto's sales fell sharply, with only 3 units sold in August 2024, a 95.7% decline from July 2024.

Tata Motors, JBM Auto, Olectra Greentech, VECV, PMI Electro Mobility, and others have announced their sales figures for August 2024, revealing a significant growth in sales. 

According to data from the Vahan portal, 243 electric buses were sold in August 2024, compared to 437 units sold in July 2024. This represents a significant decrease of 194 units.

If we look at year-over-year sales, there has been a decrease in sales, with 243 electric buses sold in August 2024 compared to 250 e-buses in August 2023. This indicates a year-over-year decline in electric bus sales in India.

Tata Motors emerged as the top performer in electric bus sales in August 2024, followed by Olectra Greentech and PMI electro mobility.

Electric Buses sales in India: OEM-wise Sales Analysis

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

TATA MOTORS LTD: Tata Motors continues to lead the market with 115 units sold in August 2024, though this marks a sharp decline of 171 units compared to July's 286 units. As a result, it shows a 59.8% decrease in sales. Despite this, Tata Motors capture the largest market share at 47.3%.

OLECTRA GREENTECH: Olectra Greentech saw an increase in sales, with 89 units sold in August 2024, up from 65 units in July. This 36.9% growth in sales boosted their market share to 36.6%.

PMI ELECTRO MOBILITY: PMI Electro Mobility recorded a remarkable growth, selling 24 units in August 2024 compared to just 2 units in July 2024. This 1100% increase reflects strong demand and growth potential. The company captured the 9.9% market share.

PINNACLE MOBILITY: Pinnacle Mobility entered the market with 10 units sold in August 2024, achieving a 4.1% market share in their debut month.

JBM AUTO: JBM Auto's sales declined by 95.7%, with only 3 units sold in August 2024 compared to 69 units in July 2024, reducing their market share to 1.2%.

VE COMMERCIAL VEHICLES: VE Commercial Vehicles maintained their sales at 2 units, showing no change from July. Their market share remained stable at 0.8%.

SWITCH MOBILITY: Switch Mobility faced a complete drop in sales, with zero units sold in August 2024 compared to 5 units in July 2024, resulting in a 100% decline.

OTHERS: The other category also saw a complete halt in sales, with no units sold in August 2024, down from 8 units in July 2024, marking a 100% decline.

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

CMV360 Says

The drop in electric bus sales this August is a bit worrying, especially for big companies like Tata Motors and JBM Auto. However, the growth of Olectra Greentech and PMI Electro Mobility shows that there’s still hope for the market. It will be interesting to see how these companies adjust and move forward.