Electric Three-wheeler L5 Sales Report September 2024: MLMM and Bajaj Auto are the top choices.

Key Highlights:

• Mahindra Last Mile Mobility sold 4,660 electric three-wheelers in September 2024, a 24.8% increase from August.
• Bajaj Auto sold 4,485 units in September 2024, showing a 585% rise from the previous year.
• E3W L5 passenger vehicle sales reached 4,569 units, up from 4,393 in August 2024.
• Goods E3W L5 sales were 2,026 units in September 2024, slightly lower than the 2,132 units in September 2023.
• Euler Motors saw a 19.4% increase in cargo sales in September 2024 compared to September 2023.

In September 2024, India’s electric vehicle (EV) sales showed mixed performance. The sales of passenger three-wheelers (E3W L5 passenger vehicles) increased from 4,393 units in August 2024 to 4,569 units. In September 2024, the sales of cargo electric three-wheelers (E3W L5 goods-carrying vehicles) increased from 1,789 units in August 2024 to 2,026 units.

Electric three-wheelers (E3W) are an important category of the electric vehicle (EV) market in India, 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 for September 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 4,569 units in September 2024 compared to 5,688 in September 2023. The E-3W Passenger L5 segment witnessed a decline in sales. 

Electric Three-wheeler Passenger L5 Sales Trend by OEM

In September 2024, Mahindra Last Mile Mobility sold 4,660 units, reflecting a strong 24.8% increase from 3,734 units in August 2024 and an impressive 87% growth compared to 2,489 units in September 2023.

Bajaj Auto reported sales of 4,485 units, which is a 22.4% rise from 3,663 units in August 2024 and a remarkable 585% increase from 655 units in September 2023.

Piaggio Vehicles sold 1,550 units in September 2024, showing a 8.6% growth from 1,427 units in August 2024 and a 12% drop compared to 1,752 units in September 2023.

TI Clean Mobility sold 602 units in September 2024, marking a slight 0.5% increase from 599 units in August 2024 and a significant 176% growth from 218 units in September 2023.

Omega Seiki sold 288 units, up 80% from 160 units in August 2024 and higher than the 14 units sold in September 2023.

E-3W Goods L5 Sales

According to data from the Vahan portal, the total number of E-3W sold in the L5 Goods category was 2,026 units in September 2024 compared to 2,132 in September 2023. The E-3W Cargo L5 segment witnessed a decline in sales.

E-3W Cargo L5 Sales Trend by OEM

In September 2024, Bajaj Auto sold 519 units, showing a significant increase of 40.7% compared to 369 units in August 2024.

Mahindra Last Mile Mobility sold 490 units in September 2024, which is a 7.0% up from 458 units in August 2024, but a 21.0% decline from 620 units in September 2023.

OMEGA SEIKI reported 224 units sold in September 2024, reflecting a 22.0% decrease from 287 units in August 2024 and a 32.7% drop from 333 units in September 2023.

Euler Motors sold 222 units in September 2024, decrease 9.4% from 245 units in August 2024 but up 19.4% from 186 units in September 2023.

Piaggio Vehicles sold 133 units in September 2024, representing a 0% increase from 133 units in August 2024, but a 47.8% decrease from 255 units in September 2023.

Also Read: Electric Three-wheeler Sales Report September 2024: YC Electric Emerges as Top Choice

CMV360 Says

The electric three-wheeler market continues to show strong potential, especially with brands like Bajaj Auto and Mahindra Last Mile Mobility leading the way in sales growth. While the passenger segment is growing steadily, the slight decline in cargo sales depicts a need for more focus on improving performance in that segment. Overall, the market is heading in a positive direction.