FADA Sales Report May 2024: Three-wheeler (3W) sales increased by 20.09% YoY

Key Highlights:

• Three-wheeler sales grew 20.09% YoY in May 2024 to 98,265 units.
• E-rickshaw passenger sales grew 24.20% YoY to 39,505 units.
• E-rickshaw with cart sales jumped 30.95% YoY to 5,530 units.
• Bajaj Auto led with 35,527 units sold and a 36.15% market share.
• TVS Motor sales increased to 1,716 units, holding a 1.75% share.

In the latest FADA Retail Sales Report for May 2024, Three-Wheelers (3W) sales increased by 20.09% YoY. In May '24, a total of 98,265 units of three-wheelers were sold compared to 81,825 in May 2023.  

Three-wheeler (3W) MoM sales grew by 22.67%. In May 2024, 98,265 units of three-wheelers were sold compared to 80,105 in April 2024.

Here's a breakdown for each category:

E-RICKSHAW(P):

• In May 2024, 39,505 units of e-rickshaws passengers were sold, compared to 31,808 in April 2024 and 36,607 in May 2023.
• This represents a growth of 24.20% from April 2024 to May 2024, and a growth of 7.92% from May 2023 to May 2024.

E-RICKSHAW WITH CART (G):

• In May 2024, 5,530 e-rickshaws with carts were sold, compared to 4,223 in April 2024 and 3,126 in May 2023.
• This shows a MoM growth of 30.95% and a YoY growth of 76.90%.

THREE-WHEELER (GOODS):

• In May 2024, 9,927 units of three-wheelers (goods) were sold, compared to 9,072 in April 2024 and 8,236 in May 2023.
• This indicates a MoM growth of 9.42% and a YoY growth of 20.53%.

THREE-WHEELER (PASSENGER):

• In May 2024, 43,224 three-wheelers for passengers were sold, compared to 34,938 in April 2024 and 33,792 in May 2023.
• This represents a MoM growth of 23.72% and a YoY growth of 27.91%.

THREE-WHEELER (PERSONAL):

• In May 2024, 79 units of three-wheelers(personal) were sold, compared to 64 in both April 2024 and May 2023.
• This shows a MoM and YoY growth of 23.44% 

Three-Wheeler FADA Sales Report: OEM-wise Sales Analysis

In May 2024, the retail sales of three-wheelers saw a notable increase compared to the same period last year. A total of 98,265 units were sold in May 2024, representing a significant rise from the 81,825 units sold in May 2023.

Brand Wise Market Share and Sales Figures:

Bajaj Auto Ltd continues to lead the market with 35,527 units sold, capturing a 36.15% market share, slightly up from 35.52% last year.

Piaggio Vehicles Pvt Ltd sold 7,015 units in May 2024, holding a 7.14% market share, a slight increase from 6.99% in May 2023.

Mahindra & Mahindra Limited recorded 5,286 units sold, accounting for 5.38% of the market, down from 5.88% last year.

YC Electric Vehicle sold 3,779 units, maintaining a 3.85% share, a slight decline from 3.96% in May 2023.

Saera Electric Auto Pvt Ltd had steady sales with 2,474 units and a 2.52% market share, consistent with last year.

Atul Auto Ltd saw a jump in sales to 2,450 units, holding a 2.49% market share, up from 1.92% in May 2023.

Dilli Electric Auto Pvt Ltd sold 2,205 units, representing a 2.24% market share, slightly down from 2.54% in May 2023.

TVS Motor Company Ltd increased its sales to 1,716 units, capturing a 1.75% market share, up from 1.56% in May 2023.

Unique International sold 1,325 units, holding a 1.35% share, slightly down from 1.37% in May 2023.

Mini Metro EV L.L.P sold 1,318 units, accounting for 1.34% of the market, down from 1.47% in May 2023.

Energy Electric Vehicles sold 1,069 units, capturing a 1.09% market share, up from 0.95% in May 2023.

Champion Poly Plast sold 993 units, holding a 1.01% share, down from 1.49% in May 2023.

Hotage Corporation India maintained steady sales with 993 units, representing a 1.01% market share.

Other manufacturers, including various electric vehicle producers, collectively sold 32,115 units, holding a combined market share of 32.68%, slightly up from 32.62% last year.

Also Read: FADA Sales Report April 2024: Three-wheeler (3W) sales increased by 9% YoY

CMV360 Says

The rise in three-wheeler sales in May 2024 shows strong demand in this market. Bajaj Auto Ltd remains the leader, and Mahindra Last Mile Mobility Ltd has made a strong entry. 

Electric vehicle manufacturers are also doing well, indicating a shift towards greener transportation. This positive trend suggests good consumer confidence and a better economy, making it a good time for companies to innovate and grow in the three-wheeler market.