FADA Sales Report November 2024: Three-wheeler (3W) sales increased by 4.23% YoY

Key Highlights:

• Three-wheeler sales in November 2024 increased by 4.23% YoY, with 1,08,337 units sold compared to 1,03,939 in November 2023.
• The e-rickshaw with cart segment showed the highest YoY growth at 70.11%, selling 5,423 units.
• Passenger three-wheelers led the market with 51,466 units sold, marking a 6.30% YoY increase.
• Bajaj Auto retained its top spot, selling 39,061 units and holding a 36.06% market share.
• Mahindra & Mahindra reported notable growth, increasing its market share to 7.27% with 7,872 units sold.

In the latest FADA Retail Sales Report for November 2024, the three-wheeler sales report showed mixed results across different categories compared to November 2024 and November 2023. 

The three-wheeler market witnessed mixed trends across various categories in November 2024, with total sales reaching 1,08,337 units, reflecting a 4.23% year-on-year (YoY) increase from 1,03,939 units in November 2023. However, the market experienced an 11.81% month-on-month (MoM) decline compared to 1,22,846 units sold in October 2024.

Category-Wise Sales three-wheeler Performance:

Here's a breakdown for each category:

E-Rickshaw (Passenger): Sales stood at 40,391 units, declining 8.16% MoM from 43,982 units in October 2024. On a YoY basis, sales dropped 3.18% from 41,718 units in November 2023.

E-Rickshaw with Cart (Goods): This segment showed remarkable YoY growth of 70.11%, with 5,423 units sold, up from 3,188 units in November 2023. However, sales decreased 7.96% MoM from 5,892 units in October 2024.

Three-Wheeler (Goods): In Goods three-wheelers segment, 10,940 units were sold, marking a 3.95% YoY increase from 10,524 units in November 2023 but a 13.92% MoM decline from 12,709 units in October 2024.

Three-Wheeler (Passenger): Passenger three-wheelers led the market with 51,466 units, achieving a 6.30% YoY growth from 48,418 units in November 2023. However, this segment saw the highest MoM drop of 14.46%, down from 60,169 units in October 2024.

Three-Wheeler (Personal): This segment recorded a sale of 117 units, showcasing a 28.57% YoY increase from 91 units in November 2023 and a 24.47% MoM growth from 94 units in October 2024.

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

The three-wheeler market in November 2024 showcased dynamic performance across major brands, with a total of 1,08,337 units sold, representing a 4.23% growth compared to 1,03,939 units sold in November 2023.

Brand-Wise Sales Performance:

Bajaj Auto Ltd retained its dominance with 39,061 units sold, holding a 36.06% market share. However, this was a slight drop from 39,514 units and a 38.02% share in November 2023.

Piaggio Vehicles Pvt Ltd sold 8,843 units, capturing 8.16% of the market, slightly lower than last year's sales of 8,963 units and 8.62% share.

Mahindra & Mahindra Limited recorded notable growth, selling 7,872 units and securing a 7.27% market share, up from 6,428 units and a 6.18% share in November 2023.

YC Electric Vehicle achieved sales of 3,977 units, holding a 3.67% market share, an increase from 3,690 units and a 3.55% share in November 2024.

Atul Auto Ltd demonstrated improvement, with sales rising to 2,512 units and a 2.32% share, compared to 2,108 units and 2.03% share in November 2023.

Saera Electric Auto Pvt Ltd faced a decline, selling 2,263 units with a 2.09% market share, down from 2,701 units and a 2.60% share in November 2023.

TVS Motor Company Ltd showed strong growth, increasing sales to 2,137 units with a 1.97% share, compared to 1,588 units and 1.53% share in November 2023.

Dilli Electric Auto Pvt Ltd remained consistent, selling 2,044 units with a 1.89% market share, slightly up from 2,027 units and a 1.95% share in November 2023.

Energy Electric Vehicles sold 1,232 units, capturing 1.14% of the market, up from 1,080 units and 1.04% share in November 2023..

Mini Metro EV LLP saw a marginal dip, selling 1,227 units with a 1.13% market share, compared to 1,342 units and a 1.29% share in November 2023.

Unique International recorded 1,166 units sold, holding a 1.08% share, slightly down from 1,191 units and 1.15% share in November 2023.

Others, including various electric three-wheelers brands, accounted for 36,003 units, representing a 33.23% share, up from 33,307 units and a 32.04% share in November 2023.

Also Read: FADA Sales Report October 2024: Three-wheeler (3W) sales increased by 11% YoY

CMV360 Says

The FADA sales report for November 2024 shows steady growth in three-wheeler sales, with some segments performing better than others. The e-rickshaw with cart saw strong growth, while most categories had lower sales compared to last month. Bajaj Auto stayed on top, and Mahindra & Mahindra showed good progress. These trends highlight the need for brands to focus on new ideas and better strategies to keep growing.