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

Key Highlights:

• Sales of electric buses rose to 436 units in July 2024 from 135 in June 2024.
• Tata Motors led with 286 electric buses sold.
• July 2024 saw a significant increase from 144 units sold in July 2023.
• Tata Motors holds a 65.6% market share, while JBM Auto and Olectra Greentech have 15.8% and 14.9% respectively.
• PMI Electro Mobility's sales dropped, while Switch Mobility saw a slight rise.

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

According to data from the Vahan portal, 436 electric buses were sold in July 2024 compared to 135 units of Electric buses sold in June 2024. Tata Motors emerged as the top performer in electric bus sales in July 2024, followed by JBM Auto and Olectra Greentech. 

If we look at year-over-year sales, there has been an increase in sales because, in July 2024, 436 electric buses were sold, whereas in July 2023, only 144 e-buses were sold. This indicates a year-over-year increase in electric bus sales in India.

Electric Buses: OEM-wise Sales Analysis

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

TATA Motors led the electric bus market in July 2024 with 286 units sold. This is a significant increase from 34 units in June 2024, marking a 741.2% rise. Their market share is now 65.6%.

JBM Auto Limited sold 69 electric buses, up from 35 in June 2024. This represents a 97.1% increase, giving them a 15.8% market share.

Olectra Greentech saw sales of 65 units, a huge jump from 9 units in the previous month. This represents a 622.2% increase and a 14.9% market share.

Causis E-Mobility sold 7 buses, up from 1 in June 2024. This 600% increase gives them a 1.6% market share.

Switch Mobility experienced a modest rise, selling 5 buses compared to 4 units in June 2024, a 25% increase, resulting in a 1.1% market share.

PMI Electro Mobility saw a sharp decline with only 2 units sold, down from 50 units in June 2024. This reflects a 96% decrease, leaving them with a 0.5% market share.

VE Commercial Vehicles sold 2 units, up from zero units sold in June 2024, holding a 0.5% market share.

Others had no sales in July, down from 2 units in June, reflecting a 100% decrease. 

Overall, the total number of electric buses sold in July was 436, up from 135 units in June 2024.

Also Read: JBM Auto Limited Reports Strong Q1 Results

CMV360 Says

The sharp rise in electric bus sales in India for July 2024, up to 436 units from 135 in June, is a clear sign of growing interest in eco-friendly transport. Tata Motors, leading with a remarkable 741% increase in sales, shows strong growth in the sector. 

This growth in electric sales highlights a positive shift towards greener public transit, although some companies like PMI Electro Mobility saw declines. Overall, it's a promising trend for the future of sustainable transportation in India.