Electric Buses Sales Report June 2024: PMI Electro Mobility Emerges as Top Choice for E-Buses

Key Highlights:

• Electric bus sales in India saw a 39% month-on-month decrease, with 135 units sold in June 2024.
• PMI Electro Mobility led the market with 50 units sold, capturing 37% market share.
• Tata Motors sales dropped by 26.1%, from 46 units in May to 34 units in June 2024.
• JBM Auto increased its sales, selling 35 units in June 2024.
• Olectra Greentech saw a significant decline of 73.5%, selling only 9 units in June 2024.

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

In June 2024, India's electric vehicle (EV) market experienced a marginal deceleration from its pace in May 2024. A significant decrease was seen in the sales of electric buses in June 2024 compared to May 2024. 

According to data from the Vahan portal, only 135 electric buses were sold in June 2024 compared to 220 units of Electric buses sold in May 2024.

If we look at year-over-year sales, there has been a decrease because, in June 2023, 204 electric buses were sold, whereas in June 2024, only 135 e-buses were sold. This indicates a year-over-year decline in electric bus sales in India.

Electric Buses in India: OEM-wise Sales Analysis

PMI Electro Mobility emerged as the top performer in electric bus sales in June 2024, followed by JBM Auto and Tata Motors. Let’s explore the sales figures and market dynamics of the top players:

PMI Electro Mobility: Led the market with 50 units sold, down from 65 units in May 2024, holding a 37.0% market share.

JBM Auto: Increased sales from 34 units in May 2024 to 35 in June 2024, holding 25.9% of the market share.

Tata Motors: Experienced a significant decline from 46 units in May 2024 to 34 in June 2024, a decrease of 26.1%, and now holds a 25.2% market share.

Olectra Greentech: Sales drop from 34 units in May 2024 to 9 units in June 2024, marking a 73.5% decrease, with a 6.7% market share.

Switch Mobility: The company experienced a decrease in sales from 5 units in May 2024 to 4 units in June 2024, a 20% decline, holding a 3.0% market share.

Veera Vahan Udyog: Entered the market with 2 units sold, achieving a 1.5% market share.

Causis E-Moblity: Entered the market with 1 unit sold, achieving a 0.7% market share.

Overall Market Performance

Overall, the total number of electric buses sold in June 2024 was 135 units, marking a 39% decrease from 220 units sold in May 2024.

Also Read: Electric Buses Sales Report May 2024: PMI Electro Mobility Emerges as Top Choice for E-Buses

CMV360 Says

The decline in electric bus sales reflects ongoing challenges in the Indian EV market, influenced by factors such as supply chain disruptions and fluctuating consumer demand. PMI Electro Mobility's consistent market leadership highlights the importance of adapting to market dynamics swiftly. 

As the industry deals with these changes, it's crucial for companies to keep innovating and planning carefully to boost electric bus sales again.