Electric Three-wheeler Sales Report July 2024: YC Electric Emerges as Top Choice

Key Highlights:

• Sales of electric two-wheelers surged from 79,868 units in June to 107,016 units in July 2024.
• E-rickshaw sales increased from 37,947 units to 44,430 units in the same period.
• E-carts saw a rise in sales from 4,609 units to 5,186 units, reflecting growth in commercial EV usage.
• Electric three-wheelers for cargo and goods transport grew from 1,932 units to 2,618 units.
• YC Electric, Saera Electric, and Dilli Electric were top performers in E-rickshaw and E-cart sales for July 2024.

YC Electric, Saera Electric, Dilli Electric, Mahindra Last Mile Mobility and many other OEMs have announced their sales figures for July 2024.

In July 2024, India's electric vehicle market witnessed significant growth across multiple categories. Similarly, E-rickshaw sales saw a notable rise from 37,947 units to 44,430 units, reflecting growing demand in urban and suburban transport solutions.

E-carts, used predominantly for intra-city logistics, grew from 4,609 units to 5,186 units, indicating a steady expansion in commercial electric vehicle usage. 

Additionally, sales of electric three-wheelers for cargo and goods transportation rose from 1,932 units to 2,618 units, underscoring their role in enhancing last-mile delivery efficiency.

Electric three-wheelers (E3W) are an important segment of the electric vehicle (EV) market in India, as they offer affordable, convenient, and eco-friendly mobility solutions for both passengers and goods. 

E-rickshaw refers to low-speed electric 3Ws (up to 25 kmph) and it is mainly used for passenger transportation. On the other hand, E-cart refers to low-speed electric 3Ws (up to 25 kmph) used for goods transportation. 

Both e-rickshaws and e-carts are becoming popular choices for transportation in crowded cities and towns because they are easy to drive, produce fewer pollutants, and are often cheaper to operate than traditional vehicles. 

In this news, we will examine the sales performance of the E-rickshaw and E-cart segments in July 2024 based on the data from the Vahan Dashboard.

E-rickshaws Sales Trend

The E-rickshaws segment witnessed a growth in yoy sales. According to data from the Vahan portal, 444,30 units of E-rickshaws were sold in July 2024 compared to 43,494 units in July 2023.

E-rickshaw: OEM-wise Sales Analysis

In July 2024, YC Electric, Saera Electric, and Dilli Electric emerged as the top performers in E-rickshaw sales. 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:

YC ELECTRIC sold 3,474 units in July 2024 compared to 3,014 units in June 2024.

SAERA ELECTRIC reported sales of 2,325 units in July 2024, showing a 10.8% year-over-year decline and 2.6% month-over-month growth.

DILLI ELECTRIC sold 1,816 units in July 2024. Their sales declined by 11.8% year-over-year and month-over-month growth of 15.2%.

MINI METRO's sales were 1,345 units in July 2024. YOY sales were declined by 10.2% and there is a mom growth of 10.7%. 

UNIQUE INTERNATIONAL sold 1,283 units in July 2024, with a slight growth of 1.8% year-over-year and 14.7% month-over-month.

E-Cart Sales Trend

The Electric 3-wheeler cargo segment witnessed a remarkable increase in sales. As per the Vahan portal data, 5,186 units of E-cart were sold in July 2024 compared to 2,778 units in July 2023.

E-cart: OEM-wise Sales Analysis 

In July 2024, the sales were dominated by key players including YC Electric and Dilli Electric. 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.

In July 2024, YC Electric sold 373 e-carts compared to 159 sold in July 2023, marking a 135% year-on-year growth and a 10.4% month-on-month growth. 

Dilli Electric sold 368 e-carts in July 2024. This represents a 40% year-on-year growth and month-on-month growth of 19.5%.

Saera Electric sold 238 e-carts in July 2024, experiencing a 131% year-on-year growth and a 24% month-on-month growth. 

Reep Industries sold 209 e-carts in July 2024, witnessing an 18.8% mom growth.

SKS Trade India saw a 98% year-on-year growth, selling 190 e-carts in July 2024. The company experienced a mom growth of 28.4%.

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

CMV360 Says

The rise in electric vehicle sales in July 2024 shows that more people in India are choosing eco-friendly transportation. With brands like YC Electric, Saera Electric, and Dilli Electric leading, the increase in electric three wheeler highlights a shift towards sustainable and cost-effective travel. 

The boost in e-cart sales also points to the growing role of electric vehicles in urban logistics. However, to keep this momentum, manufacturers need to focus on improving infrastructure, battery technology, and affordability.