Electric Three-wheeler L5 Sales Report June 2024: MLMM emerges as the top choice.

Key Highlights: 

• Passenger E3W sales increased from 7,480 units in May to 7,820 units in June 2024.
• Cargo E3W sales decreased from 2,245 units in May to 1,930 units in June 2024.
• Mahindra Last Mile Mobility led passenger E3W sales with 3,310 units, a 68% increase year-on-year.
• Mahindra Last Mile Mobility also led cargo E3W sales with 552 units, despite a slight decline in sales.
• Overall, the passenger E3W market showed growth, while the cargo E3W market saw varied performance among manufacturers.

In June 2024, electric vehicle (EV) sales in India decreased compared to May 2024. In June 2024, the sales of passenger three-wheelers (E3W L5 passenger vehicles) increased from 7,480 units in May 2024 to 7,820 units, while the sales of cargo electric three-wheelers (E3W L5 goods-carrying vehicles) decreased from 2,245 units in May 2024 to 1,930 units.

Electric three-wheelers in India are an important category of the electric vehicle (EV) market, as they offer affordable, convenient, and eco-friendly mobility solutions for both passengers and goods. 

In this news, we will examine the sales performance of E3W L5 in the goods and passenger segments in June 2024 based on the data from the Vahan Dashboard.

E-3W Passenger L5 Sales Trend

According to data from the Vahan Dashboard, the E-3W L5 Passenger category sold 7,820 units in June 2024 compared to 3,971 in June 2023.

The E-3W Passenger L5 segment witnessed an increase in sales. The sales of electric three-wheeler passenger vehicles in June 2024 saw significant growth compared to both May 2024 and June 2023.

Electric Three-wheeler Passenger L5 Sales Trend by OEM

In May 2024, Mahindra Last Mile Mobility Ltd., Bajaj Auto and Piaggio Vehicles led the sales of electric three-wheeler passenger L5 in terms of selling the highest number of electric three-wheelers. Therefore, let’s explore the sales performance of the Top 5 OEMs in detail:

Mahindra Last Mile Mobility sold 3,310 units in June 2024, up from 2,931 units in May 2024 and 1,968 units in June 2023. This shows a growth of 68% year-on-year and 12.9% month-on-month.

Bajaj Auto sold 2,381 units in June 2024, an increase from 2,215 units in May 2024 and 111 in June 2023, indicating a month-on-month growth of 7.5%.

Piaggio Vehicles sold 1,102 units in June 2024, slightly down from 1,189 units in May 2024. Compared to June 2023, which had 1,486 units sold, this represents a 26% year-on-year and 7.3% m-o-m decline in sales.

TI Clean Mobility sold 387 units in June 2024, up from 330 units in May 2024 and 9 units in June 2023. This shows a 17.3% month-on-month growth.

Keto Motors sold 96 units in June 2024, down from 226 units in May 2024 and 0 units in June 2023. This shows a decline of 57.5% month-on-month sales.

E-3W Goods L5 Sales

According to data from the Vahan portal, the total number of E-3W sold in the Cargo L5 category was 1,930 units in June 2024 compared to 2,240 in June 2023. The E-3W Cargo L5 segment witnessed a slight decrease in sales.

E-3W Cargo L5 Sales Trend by OEM

In May 2024, the electric three-wheeler goods L5 sales were led by Mahindra Last Mile Mobility. Our analysis of the E-rickshaw segment reveals significant facts about the monthly sales of OEMs. Therefore, let’s explore the sales performance of the Top 5 OEMs in detail:

Mahindra Last Mile Mobility sold 552 units in June 2024, down from 581 units in May 2024 and 620 units in June 2023. This represents a decline in sales of 11% year-on-year and a 5% month-on-month.

Omega Seiki sold 306 units in June 2024, an increase from 254 units in May 2024 and 188 units in June 2023. This shows a 63% increase year-on-year and a 20.5% increase month-on-month.

Euler Motors sold 209 units in June 2024, compared to 244 units in May 2024 and 194 units in June 2023. This depicts an 8% increase year-on-year and a 14.3% decrease month-on-month.

Piaggio Vehicles sold 183 units in June 2024, down from 189 units in May 2024 and 305 units in June 2023. This indicates a 40% year-on-year decrease and a 3.2% month-on-month decrease.

Bajaj Auto sold 166 units in June 2024, up from 144 units in May 2024 and 13 units in June 2023. This reflects a 15.3% month-on-month growth.

Also Read: Electric Three-wheeler L5 Sales Report May 2024: MLMM emerges as the top choice.

CMV360 Says

The sales of electric three-wheelers in India in June 2024 show some ups and downs. More people are buying passenger ones, which is good for eco-friendly travel. But fewer cargo vehicles were sold, which is a bit concerning. 

Mahindra Last Mile Mobility did well in both categories, which is promising. It's clear that as electric vehicles become more popular, improving technology and infrastructure will be key to keeping up this momentum.