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

Key Highlights:

• YC Electric, Saera Electric, Dilli Electric, Mahindra Last Mile Mobility, and others reported May 2024 sales.
• E-rickshaw sales rose to 39,476 units and E-cart sales to 5,531 units in May 2024 from April 2024.
• YC Electric led E-rickshaw sales with a 27.6% increase from April.
• YC Electric and Dilli Electric dominated E-cart sales in May 2024.
• Surge in electric vehicle sales signals a positive trend towards sustainability.

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

In May 2024, electric vehicle (EV) sales in India increased across all categories as compared to April 2024. E-rickshaw sales increased from 31,798 to 39,476 units in May 2024 compared to April 2024. Similarly, E-cart sales grew from 4,210 to 5,531 units in May 2024 compared to April 2024.

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 May 2024 based on the data from the Vahan Dashboard.

E-rickshaws Sales Trend

The E-rickshaws segment witnessed a slight increase in sales. According to data from the Vahan portal, 39,476 units of E-rickshaws were sold in May 2024 compared to 36,570 units in May 2023.

E-rickshaw: OEM-wise Sales Analysis

In May 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 OEMs in detail:

YC Electric sold 3,299 e-rickshaws in May 2024, marking a 7.40% increase from May 2023 and a significant 27.60% increase from April 2024.

Saera Electric saw a rise in sales with 2,225 e-rickshaws sold, reflecting a 15.50% increase from May 2023 and a 26.40% increase from April 2024.

Dilli Electric experienced a slight decline, selling 1,653 e-rickshaws in May 2024, down by 0.20% from May 2023, but showing a notable 31% increase from April 2024.

Unique International showed growth, selling 1,257 e-rickshaws, indicating a 17.90% increase from May 2023 and a substantial 41.40% increase from April 2024.

Mini Metro also demonstrated growth, selling 1,230 e-rickshaws, up by 7.50% from May 2023 and showing a significant 37.90% increase from April 2024.

Champion Poly Plast experienced a decline, selling 932 e-rickshaws, marking a decrease of 20.90% from May 2023, but showing a 26.10% increase from April 2024.

Hotage Corporation's sales remained relatively stable with 929 e-rickshaws sold, showing a minor decrease of 2.30% from May 2023 and a 15.30% increase from April 2024.

Mahindra Last Mile Mobility saw a significant decrease, selling 925 e-rickshaws, indicating a notable 52.60% decrease from May 2023, but showing a 36% increase from April 2024.

Energy Electric demonstrated growth, selling 897 e-rickshaws, showing a 21.40% increase from May 2023 and a 10.10% increase from April 2024.

Allfine Industries also experienced growth, selling 828 e-rickshaws, reflecting a 1.70% increase from May 2023 and a 10% increase from April 2024.

E-cart Sales Trend

The Electric 3-wheeler cargo segment witnessed a remarkable increase in sales. As per the Vahan portal data, 5,531 units of E-cart were sold in May 2024 compared to 3,125 units in May 2023.

E-cart: OEM-wise Sales Analysis 

In May 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 May 2024, YC Electric sold 477 e-carts, showing significant growth compared to 158 sold in May 2023, marking a 202% year-on-year increase and a 36% month-on-month increase. 

Dilli Electric sold 355 e-carts in May 2024, with a 31% year-on-year growth and an 18% month-on-month growth. 

J.S. Auto saw a 102% year-on-year increase, selling 251 e-carts in May 2024, with a 46% month-on-month growth. 

Saera Electric sold 243 e-carts, experiencing a 98% year-on-year growth and a 22% month-on-month growth. 

SKS Trade sold 222 e-carts, witnessing a 79% year-on-year growth and a remarkable 71% month-on-month growth.

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

CMV360 Says

The rise in sales of electric rickshaws indicates a growing shift towards eco-friendly transportation options, reflecting a positive trend towards sustainability and reducing carbon emissions in urban areas.

More people are buying electric carts now, showing they like them more. OEM's need to keep improving electric vehicles so more people will buy them.