EV Sales Report: How E-3W Goods and Passenger Segments Performed in Jan 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.

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

E-3W Passenger L5 Sales Trend by OEM

In January 2024, the three most popular brands for registered electric passenger 3-wheelers are Mahindra & Mahindra, Piaggio Vehicles, and Bajaj Auto.

E-3W Cargo L5 Sales Trend by OEM

In Jan 2024, the electric three-wheeler goods sales were led by Mahindra & Mahindra, Piaggio Vehicles and OMEGA Seiki.

Our analysis of the E-3W Cargo L5 segment reveals significant sales change among OEMs. Therefore, let’s explore the sales performance of each OEM in detail.

Mahindra & Mahindra-

In January 2024, Mahindra & Mahindra delivered 651 units, showcasing a 199% year-over-year growth from 218 units in January 2023. The month-over-month decline was -1 %, down from 659 units in December 2023.

Piaggio Vehicles Pvt Ltd-

Piaggio Vehicles Pvt Ltd sold 376 units in January 2024, registering a -28% year-over-year decline from the 524 units in January 2023. The brand saw a -6% month-over-month drop from 399 units in December 2023.

Omega Seiki Pvt Ltd-

Omega Seiki Pvt Ltd’s sales in January 2024 stood at 323 units, reflecting a remarkable 14% year-over-year growth from 283 units in January 2023. The month-over-month growth was 20%, up from 269 units in December 2023.

Euler Motors Pvt Ltd-

In January 2024, Euler Motors Pvt Ltd marked a 494% year-over-year growth with 321 units sold, a substantial increase from 54 units in January 2023. The brand also experienced a -4% month-over-month drop from 336 units in December 2023.

Altigreen Propulsion Labs Pvt Ltd-

January 2024, Altigreen Propulsion Labs Pvt Ltd sold 143 units, indicating a 68% year-over-year growth from 85 units in January 2023. The brand also saw -41% month-over-month decrease from 242 units in December 2023.

Bajaj Auto Ltd-

Bajaj Auto Ltd had 116 units sold in January 2024, marking its presence in the market compared to having no sales in January 2023. The brand experienced a 23% month-over-month growth from 94 units in December 2023.

Keep following CMV360 for more news and updates on three-wheeler sales reports.