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

Key Highlights:

• E-rickshaw sales fell to 40,386 units in November 2024, down from 43,975 units in October 2024.
• E-cart sales also dropped to 5,423 units in November 2024, from 5,891 units in October 2024.
• YC Electric's E-rickshaw sales grew 4.1% year-over-year but dropped 11.81% month-over-month.
• Dilli Electric's E-rickshaw sales dropped 18.5% from October and 12.7% year-over-year.
• The E-cart segment saw strong growth, with Dilli Electric's sales up 60% from November 2023.

YC Electric, Saera Electric, Dilli Electric, MINI METRO, UNIQUE INTERNATIONAL and many other OEMs have announced their sales figures for November 2024.

In November 2024, India's electric vehicle market witnessed mixed performance across multiple categories. Sales of E-rickshaws went down to 40,386 units in November 2024, compared to 43,975 units in October 2024. E-carts, used predominantly for intra-city logistics, sales decreased to 5,423 units in November 2024, compared to 5,891 units in October 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 three wheelers (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 November 2024 based on the data from the Vahan Dashboard.

E-rickshaws Sales Trend

The E-rickshaws segment witnessed a decline in y-o-y sales. According to data from the Vahan portal, 40386 units of E-rickshaws were sold in November 2024 compared to 41679 units in November 2023.

E-Rickshaw Sales Trend by OEM in November 2024

E-rickshaw sales in November 2024 show a mix of growth and decline across different manufacturers. Here are the key highlights:

YC Electric sold 3,601 units in November 2024, down by 11.81% compared to October 2024 (4,083 units). However, it showed a slight increase of 4.1% compared to November 2023 (3,460 units).

Saera Electric reported sales of 2,033 units in November 2024, a decrease of 8.5% from October 2024 (2,222 units). Compared to November 2023 (2,560 units), sales dropped by 20.6%.

Dilli Electric sold 1,527 units in November 2024, down 18.5% from October 2024 (1,873 units). Year-on-year sales were also dropped by 12.7% from November 2023 (1,749 units).

Mini Metro had 1,160 units sold in November 2024, which was 10.6% down than October 2024 (1,297 units). The brand saw an 8.4% decrease in sales compared to November 2023 (1,267 units).

Unique International recorded 1,095 units sold, down 2.3% from October 2024 (1,121 units). Compared to November 2023 (1,154 units), sales decreased by 5.1%.

Overall, while some brands experienced growth over the previous year, many saw a decline in sales month-over-month.

E-cart Sales Trend

The Electric 3-wheeler cart segment witnessed a remarkable increase in sales. As per the Vahan portal data, 5,423 units of E-cart were sold in November 2024 compared to 3,188 units in November 2023.

E-Cart Sales Trend by OEM in November 2024

Here’s a breakdown of e-cart sales for November 2024 compared to November 2023:

Dilli Electric sold 402 units in November 2024, showing a slight 0.2% growth from October 2024, when 401 units were sold. There is a significant increase of 60% from November 2023, when only 252 units were sold.

YC Electric recorded 371 units in November 2024, experiencing a drop of 26.4% from October 2024, when 504 units sold. However, there was a strong year-over-year growth of 71% compared to November 2023, when 217 units were sold.

Sarvana Engineering showed impressive growth, with 258 units sold in November 2024, a 100% increase from October 2024, when 129 units were sold. Company experienced a drastic growth in yoy sales compared to November 2023, when only 1 unit was sold.

J.S. Auto sold 235 units in November 2024, reflecting a 7.3% increase from October 2024, which saw 219 units sold. There was also a 59% growth compared to November 2023, when 148 units were sold.

Saera Electric sold 214 units in November 2024, a decline of 14.1% from October 2024, when 249 units were sold. Despite this, there was a 59% increase compared to November 2023, when 135 units were sold.

Overall, most brands showed positive year-over-year growth, though monthly fluctuations varied.

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

CMV360 Says

The sales in November 2024 showed mixed results for electric vehicles in India. Some brands did well, but overall sales went down. The growth in E-cart sales is a good sign, as more people are using them for delivery. The market will need to adjust to these changes to keep growing.