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

Key Highlights:

• Electric bus sales in India saw a 4% month-on-month increase, with 220 units sold in May 2024.
• PMI Electro Mobility led the market with 65 units sold, capturing 29.50% market share.
• Tata Motors' sales dropped by 48.30%, from 89 units in April to 46 units in May 2024.
• JBM Auto increased its sales by 36%, selling 34 units in May 2024.
• VE Commercial saw a significant rise of 57.90%, selling 30 units in May 2024.

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

A significant increase was seen in the sales of electric buses in May 2024 compared to May 2023. According to data from the Vahan portal, 220 units of Electric buses were sold in May 2024 compared to 211 units sold in April 2024.

PMI Electro Mobility emerged as the top performer in electric bus sales in May 2024, followed by Tata Motors 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:

PMI Electro Mobility: Led the market with 65 units sold, up from zero in April 2024, capturing 29.50% of the market share.

Tata Motors: Experienced a significant drop from 89 units in April 2024 to 46 in May 2024, a 48.30% decrease, now holding a 20.90% market share.

Olectra Greentech: Sales fell from 66 units in April 2024 to 34 in May 2024, a 48.50% decrease, with a 15% market share.

JBM Auto: Increased sales from 25 units in April 2024 to 34 in May 2024, a 36% rise, holding 15.50% of the market share.

VE Commercial: Saw a 57.90% increase in sales, from 19 units in April 2024 to 30 in May 2024, gaining a 13.60% market share.

Switch Mobility: Increased sales from 2 units to 5 in May 2024, a 150% rise, with a 2.30% market share.

Pinnacle Mobility: Sales halved from 10 units in April to 5 in May, holding a 2.30% share.

Twin Green Tech: Entered the market with 1 unit sold, achieving a 0.50% share.

Overall Market Performance

Overall, the total number of electric buses sold in May 2024 was 220 units, a 4% increase from 211 units in April 2024.

Electric Vehicle Sales in India

In May 2024, electric vehicle (EV) sales in India increased compared to April. However, 220 electric buses were sold in May 2024, compared to 280 units in May 2023. This indicates a year-over-year decline in electric bus sales, although there was an increase in monthly sales of electric buses in India.

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

CMV360 Says

The latest data from the Vahan Dashboard reveals a mixed scenario for electric bus sales in May 2024. The sales figures for May 2024 show a dynamic electric bus market. PMI Electro Mobility's rise to the top spot indicates that new players can quickly gain market share with the right strategy. 

In contrast, Tata Motors and Olectra Greentech's declines highlight the challenges for established manufacturers. Overall, the market's modest growth suggests a steady acceptance of electric buses, but the shifts among companies show that adaptability and innovation are key to success.